MSE News: Martin Lewis hands MPs list of key questions TSB must answer

newatc

agrinnall wrote: »

I wasn't inconvenienced at all by TSB's problems but I'm already being compensated by receiving extra interest on my Classic Plus account every month. there was no need for them to pay that, and I wouldn't expect to get anything else.

This is not compensation, it is a commercial action to limit the closing of TSB accounts. One of their better moves in the last month.

newatc

where_are_we wrote: »

Thanks "KTF" - "The people who have lost money to scammers only have themselves to blame but its always someone elses fault...". So you can catagorically say that ALL people who have lost money to scammers only have themselves to blame. Recently I have been the victim of Sim-Swap and subsequent emptying of my TSB accounts. I do not click on emails, give information to callers, reply to texts and I shred my mail, have strong different passwords, use text alerts, use antivirus software etc but this did not prevent me being scammed. Some Mobile phone companies and some banks have inadequate security systems in place. I hope it never happens to you.

How worrying. Hope it turns out OK for you. Do you have any idea why you were targetted?

realaledrinker

Many of these questions are valid, some are highly sensitive and could only hasten the company's liquidation, e.g. how many customers have you lost etc. Is that you intention MSE?

bournefree

The issues that TSB has encountered are the same that will be encountered by all banks with legacy systems in due course. Hopefully they will share what they learn from this in order to make all systems more secure in the future. One thing that we as customers have learned is not to have all your eggs in one basket, and to have accounts with more than one bank. Another is to check your accounts on a regular basis to make sure they are set up correctly as you want.

KTF

poppy10 wrote: »

Has this been marked as a missed payment on your credit reports?

Experian is showing a score of 999 and nothing out the ordinary showing on clearscore.

The letter TSB sent said the credit score wouldn’t be impacted but will check again next month.

agrinnall

newatc wrote: »

This is not compensation, it is a commercial action to limit the closing of TSB accounts. One of their better moves in the last month.

Well I had no intention of closing my account so I'm getting something for nothing, whether you call it compensation or not.

spadoosh

Its funny, i didnt see Martin Lewis with a list of questions that must be answered when the MSE forums where having technical difficulties a few months ago. Pretty sure we where only informed of what happened after they had worked out what happened and corrected it. Also sure lots of questions remained unanswered.

Martin Lewis, you have a responsibility as a journalist. So ive got some questions for you.

What do you think will happen by creating a hysteria around TSB and their recent issues?

Why are you reporting every TSB problem story whilst also missing out on other problems that are being reported about other banks? (in specific relation to the admin errors that led to a dead person getting an account opened at TSB, seems pretty similar to that band that are having issues with paying bills due to a RBS mistake, theres other examples too from more or less all banks.)

And finally the most important question. How much will MSE be compensating me for being the site that recommended i switch bank account and offered a TSB referral link that i went through? Im assuming you will be refunding the fees received for the referral link at least?

Mchambers

spadoosh wrote: »

Its funny, i didnt see Martin Lewis with a list of questions that must be answered when the MSE forums where having technical difficulties a few months ago. Pretty sure we where only informed of what happened after they had worked out what happened and corrected it. Also sure lots of questions remained unanswered.

Martin Lewis, you have a responsibility as a journalist. So ive got some questions for you.

What do you think will happen by creating a hysteria around TSB and their recent issues?

Why are you reporting every TSB problem story whilst also missing out on other problems that are being reported about other banks? (in specific relation to the admin errors that led to a dead person getting an account opened at TSB, seems pretty similar to that band that are having issues with paying bills due to a RBS mistake, theres other examples too from more or less all banks.)

And finally the most important question. How much will MSE be compensating me for being the site that recommended i switch bank account and offered a TSB referral link that i went through? Im assuming you will be refunding the fees received for the referral link at least?

Who cares and is bothered ? Not me.

redux

How many people have switched their accounts away, Martin asks.

This is nearer to a taunt than something Parliament needs to know. Perhaps he could arrange to stand up at a Sabadell shareholders' AGM and ask this one.

spikyone

Agree with all the comments on point 4. Point 3 is also contentious in my view. Having gone through the bank account switch process, I am only too aware that problems with that process are primarily caused by the company trying to take the money by DD.

I don't doubt that people switching to/from TSB may have encountered problems caused by TSB's technical issues, but when organisations who take money have anything up to a 2-week leadtime to update their DD records, it is inevitable that switching bank accounts will lead to some issues - which are outside the switching guarantee. It is unlikely that TSB will have access to data on how many customers encountered missed payments, nor will they be able to separate out those caused by the recipient companies.