Thousands and thousands in compensation anticipated for these impacted by Barclays outages

Barclays is to pay hundreds of thousands in compensation for current IT outages which prevented prospects from banking.

The financial institution mentioned it expects to pay between £5m and £7.5m in compensation to prospects for “inconvenience or misery” brought on by a payday outage earlier this 12 months, the Treasury Committee of MPs mentioned.

However the committee mentioned when all info on outages over the past two years shared by the lender is taken under consideration, as much as £12.5m might be paid.

The committee is investigating IT issues in any respect banks that forestall or restrict buyer entry to banking.

The Barclays glitch started on the finish of January and lasted a number of days.

This breaking information story is being up to date and extra particulars will probably be revealed shortly.

Please refresh the web page for the fullest model.

You’ll be able to obtain breaking information alerts on a smartphone or pill by way of the Sky Information app. It’s also possible to observe us on WhatsApp and subscribe to our YouTube channel to maintain up with the newest information.