Gareth Shaw, Head of Money, Which?, said:
“Our research shows that the banking industry cannot provide consistently reliable IT services, with glitches happening almost every day that can leave countless customers locked out of their accounts, and unable to pay their bills or run a business.
“If banks want to persuade their customers to move online they must ensure their systems are up to scratch. In the face of widespread bank branch and cashpoint closures it’s clear that the next government should intervene with legislation that protects access to cash as a vital backup and for as long as it is needed.”
Notes to editors
Since April last year, the Financial Conduct Authority (FCA) has required banks to inform them of any major operational or security incidents which affect payment processing.
In total, 302 reports were made between 1 April 2018 and the end of the year, Which? Money found by analysing the latest reports from 30 banks and building societies.
Read more: https://www.which.co.uk/news/2019/03/revealed-uk-banks-hit-by-major-it-glitches-every-day/ – Which?