Which? responds to Treasury Committee report on IT failures in the financial sector

Jenny Ross, Editor of Which? Money, said:

“Daily IT glitches are leaving too many people struggling to pay bills or buy everyday essentials, so the Committee is right to hold the industry and regulators to account for these frequent system failures.

“In a climate of rapidly disappearing bank branches and cash machines people are increasingly reliant on online banking and digital payments. If uninterrupted access to banking services is not possible it is essential cash is preserved as a back-up for when these systems inevitably fail.

“Regulators must swiftly address the Committee’s concerns, and the government must introduce legislation that guarantees consumers can access and pay with cash for as long as it is needed.”


Notes to editors:

1) More than seven million people unable to use their payment card in the last year due to IT glitches, Which? reveals