Thousands of customers across multiple UK banks were unable to access online accounts on Friday, as a widespread IT failure coincided with payday. The outage affected Lloyds, Halifax, Bank of Scotland, TSB, Nationwide, and First Direct, causing login difficulties and payment delays. Most services were restored by Friday afternoon.
The disruption has heightened concerns among MPs on the Treasury committee, who had already written to bank chief executives in February demanding details of previous outages. A source close to the committee said it is assessing its options and will consider next steps next week. The committee is due to publish lenders' responses to its earlier inquiry in the coming days.
The failures come as banks continue to close branches amid a push towards digital banking, with the number of UK branches falling from roughly 10,565 in 2014 to 6,870 by 2024. The Financial Conduct Authority now requires banks to ensure access to cash before closing sites, but critics argue that repeated IT glitches underscore the need for face-to-face services.
UK Finance defended banks, stating they invest heavily in systems and work to rectify issues quickly. However, Which? retail editor Reena Sewraz urged affected customers to keep evidence of impacted payments and contact companies to waive fees, adding that compensation may be due for losses resulting from the outages.
