By 10 a.m. Friday, hundreds of error reports had been logged on the online outage tracker Down Detector.
However, users were still unable to access their funds at 3.50pm
TSB has stated that the issues are occurring on both online and mobile banking and has apologised to customers, adding that they are working diligently to resolve the issue.
It is currently unknown what is causing the issue, but it is proving frustrating for many users, especially since the last Friday of the month is payday for many.
London, Birmingham, Glasgow, and Aberdeen appeared to be particularly hard hit, but reports from across the UK have been pouring in.
* According to new Bank of England data, credit card borrowing increased at the fastest annual rate since 2005 last month.
At the same time, the amount of money deposited into accounts has decreased as people become concerned about the rapidly rising cost of living.
Consumer credit, which includes credit card, overdraft, personal loan, and car finance borrowing, increased by 6.5 percent year on year in June.
As part of this, the annual growth rate of credit card borrowing was 12.5 percent, the highest rate since November 2005’s 12.6 percent increase.
In June, the net flow of money into bank and building society deposits as well as NS&I accounts was £1.9 billion, roughly one-third of the amount deposited in May.
According to Laura Suter, AJ Bell’s head of personal finance, the figures are “just the tip of the iceberg.”
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