How much has YOUR bank paid out in compensation for IT failures? See the full list

MORE than a million pounds has been paid out in compensation to banking customers hit by IT outages.

Customers of the nine of the UK's biggest banks and building societies have experienced a total of 803 hours - or 33 days' worth - of outages over the last two years.

A number of banks have paid thousands of pounds in compensation

That's left customers unable to make payments, check their bank balances or receive their wages.

New data published by the Treasury Committee today and analysed by The Sun has revealed a total of £1,185,149 in compensation has already been paid to customers as a result.

The Bank of Ireland has paid out the biggest amount so far, offering customers a total of £350,000.

Separately, the worst offender when it came to hours worth of outages, Barclays, could end up paying a further £12.5million.

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The major bank had the highest number (33, totalling 93 hours), including one in January which lasted for days.

More than half of attempts to make an online payment failed during that outage, and it also managed to coincide with payday and the deadline for self-assessment tax returns.

Barclays estimated it could pay out between £5million and £7.5million in compensation for that specific outage, adding to an estimated £5million for other incidents between January 2023 and January 2025.

How much has your bank paid out?

Each of the nine biggest banks and building societies was asked to write to the Government's Treasury Committee about the outages.

In their letters, they confirmed how much has been paid out so far to customers.

Here's what they said...

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Nationwide

The bank said it has paid out a total of £77,452 to customers who either faced charges as a result of the outages or were inconvenienced by them.

It recorded a total of 18 incidents over the two-year period, with 1.99 million payment transactions affected.

HSBC

HSBC recorded just one major IT failure, but ended up paying out £170,251 in compensation over it.

The outage lasted a total of 13.5 hours.

A further £62,446 was also paid out to customers who "experienced degraded service" in separate incidents.

Bank of Ireland

Four IT outages were recorded by the Bank of Ireland, which paid out £350,000 in compensation.

During the outages some customers were unable to access mobile banking or make online debit card purchases, and others experienced delays in payment processing.

Danske Bank

No compensation has been paid out by Danske Bank in the last two years.

It said there were five incidents but the impact on customers was "limited in all cases".

NatWest

One of the biggest amounts paid out was by NatWest, which has given customers about £348,000 in compensation over the last two years.

The bank said it had received 1855 complaints relating to 13 incidents.

One of these, in 2023, was rated as "severe".

Santander

Santander has paid out a relatively low sum of £17,000 to customers.

It said it had not experienced a full bank outage over the last two years and had not needed to use its crisis protocols.

However it said there had been 24 relatively minor incidents.

Lloyds

The bank said it had paid out £160,000 following 13 incidents.

During some of these outages, a number of customers were unable to make payments or view their bank balances.

What to do if you can't access your money

If you can't access your money and you need to urgently, here's what to do:

Visit your local branch as soon as you can.
If you can't get there, or it is closed, call your bank and ask for its guidance on what to do.
If the bank’s phone services are also down or busy, try contacting your bank on social media to ask what to do. But remember: don’t ever share your account details over social media.
Try to do this on the day the problem arises so you can show you made every attempt to solve the issue.
If you still can't access your money, begin gathering evidence for a complaint.

Which banks were most affected by outages?

Barclays had the most outages at 33, with a total of 93 hours offline.

HSBC was not far behind with 32 incidents, but almost double the amount of hours at 176.

NatWest had less than half as many outages, recording 13 in total, but it had an offline time of 194 hours.

Common reasons cited for the IT failures were third-party suppliers, disruption caused by a change in systems and internal software malfunctions.

Meanwhile, over 600 Santander customers were left unable to make payments today due to an outage.

David Raw, managing director of operational resilience at UK Finance, said: "The banking industry invests billions in systems and technology to ensure customers have easy and convenient access to their money across a range of channels.