TSB Banking Chaos Hits Payday Panic Across UK
By 10 a.m. on Friday, hundreds of complaints flooded Down Detector as TSB’s online banking went kaput. But four hours later, at 3.50 p.m., customers were still locked out of their own accounts.
TSB admitted the outage is affecting both online and mobile banking. The bank apologised and vowed to fix the glitch “diligently” — but gave no clue on what’s causing the chaos.
Major Cities Worst Hit as Payday Frustrations Mount
Birmingham, Glasgow, and Aberdeen were slammed hardest, but reports poured in from all corners of the UK. The timing couldn’t be worse — it’s payday Friday for many, leaving people stranded without cash access.
Credit Card Debt Soars as Cash Deposits Dry Up
Meanwhile, new Bank of England data shows Brits are borrowing on credit cards faster than in nearly two decades. Consumer credit – which covers credit cards, overdrafts, loans, and car finance – shot up 6.5% year on year in June.
- Credit card borrowing surged by 12.5% – the highest annual spike since November 2005.
- Money flowing into bank deposits and NS&I accounts plunged to just £1.9 billion in June, a third of May’s total.
Laura Suter, head of personal finance at AJ Bell, warned: “These figures are just the tip of the iceberg.” With rising living costs and banking disruptions, Brits face a financial squeeze like never before.
