Barclays initiates compensation ranging up to £100 for clients following banking disruption incident
Barclays Customers Receive Compensation Following IT Outage
An IT outage that disrupted various banking services for Barclays customers has led to compensation payouts. The outage, which lasted from January 31 to February 2, prevented numerous clients from accessing their paychecks during their paydays and the HMRC self-assessment tax return deadline.
Barclays had previously stated they would compensate customers affected by these outages with a sum ranging between £5 million and £7.5 million. As of yesterday and today, most eligible customers have received their compensation, although some cases may take longer due to their complexity.
Compensation amounts range up to £100 and have been determined on a case-by-case basis. In a statement to the Treasury Select Committee last month, Barclays apologized for the inconvenience caused to their customers, stating, "We are deeply sorry for the impact this incident has had on our customers who were not able to access some of our services during the incident period."
If you believe you qualify for compensation but haven't received any, you can contact Barclays' customer service for assistance.
Recent reports indicate that at least 158 IT failures in banks and building societies have occurred since January 2023, resulting in over 803 hours of disruption for customers. Apart from Barclays, other affected banks include HSBC, Santander, Nationwide, and NatWest. The specific criteria for compensation eligibility can vary amongst different banks, but common factors include the level of customer inconvenience, the duration of the outage, and customer reporting.
Should you have experienced a banking service disruption due to an IT outage, you may be entitled to compensation, depending on your bank's policy and the severity of the outage. When contacting your bank for compensation, it is essential to provide documentation supporting the impact of the outage on your financial activities.
For those affected by such incidents and wishing to share their stories, they can contact editor@ourwebsite for further information.
Barclays, in the wake of their IT outage, has been distributing compensation to affected customers, who have endured disruptions in their business and finance activities due to the unavailability of banking services. As technology plays a significant role in today's business, the outage, lasting from January 31 to February 2, had a wide-ranging impact on various aspects of commerce and personal finance.
