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The TSB scandal


Jdog

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What is truly staggering is that they never had a backout when it went tits up. Things go wrong all the time but surely you can’t get permission to do it without a way of going back to the state it was in before? Worked for a few big IT firms and backout plans are mandatory, not a nice to have

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1 hour ago, southstand_bairn said:

What is truly staggering is that they never had a backout when it went tits up. Things go wrong all the time but surely you can’t get permission to do it without a way of going back to the state it was in before? Worked for a few big IT firms and backout plans are mandatory, not a nice to have

Mentioned my staggerness earlier in the thread. My theory are that the Spanish owners were so proud of their software system that they'd used for smaller bank acquisitions before, and they were bragging about how it would be no problem with a bigger bank like TSB, that they refused to lose face with a temporary retreat and ordered staff to push on, whatever. Pride comes before a fall, as they say. 

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Girlfriend banks with TSB and they’ve advised they cannot guarantee when she’ll get a response to her complaint as they’re still dealing with so many

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Now Visa goes tits up as well.

http://www.bbc.co.uk/news/uk-44341070

I had to pay for my pizza with cash last night. First world problem but something the wife said to me made me think (and get my tin foil hat on)

Abramovich has visa problems and in the same week, Visa have problems. Coincidence?

Aye, probably but you never know. ;)

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  • 3 weeks later...
  • 2 months later...
On 6/22/2018 at 00:53, Jdog said:

...and system down again!

And again...

Recently they've failed to send people new debit cards in time to replace their expiring ones...

https://www.thetimes.co.uk/article/tsb-apology-for-failure-to-send-new-debit-cards-jtsxkd0dl

And they've not been updating peoples credit reports in the usual time...

https://www.which.co.uk/news/2018/08/tsb-failing-to-update-credit-reports-has-your-credit-score-been-hit/

The amazing thing is they've only lost a few thousand customers as a result.  I saw figures for the 2nd quarter of this year and 26,000 had switched from TSB to another provider but remarkably 20,000 had switched to TSB in the same time period.

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  • 1 year later...

A report into the fiasco that was their upgrade has been released.

https://www.cityam.com/tsb-it-meltdown-former-and-current-bosses-criticise-damning-probe-into-online-outages/

It doesn't look like anyone involved comes out well.

And a few days later their IT system decide to crash again...

https://www.theguardian.com/business/2019/nov/22/tsb-struck-by-new-it-glitch-just-months-after-330m-meltdown

Also they are apparently dropping their "local banking" tag line as they prepare to close more branches and decide poor families are ideal targets for loans.

https://www.thisismoney.co.uk/money/markets/article-7718367/TSB-target-loans-poorer-families-cut-branches.html

 

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16 hours ago, NorthernLights said:

Also they are apparently dropping their "local banking" tag line as they prepare to close more branches and decide poor families are ideal targets for loans.

https://www.thisismoney.co.uk/money/markets/article-7718367/TSB-target-loans-poorer-families-cut-branches.html

Given Debbie Crosbie was taken from Clydesdale, I assume their approach will be to advertise a low rate and then after doing the credit check tell them that their risk profiling has not been able to offer the 3% headline rate but they can offer the loan at 15.9%, which will allow you to build your credit rating and save you money when you apply for credit again in the future...

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