Barclays to pay millions in compensation after IT outage chaos

Barclays intends to compensate customers after an IT outage caused payment problems for three days

Photo of a Barclays app on an iPhone
(Image credit: stockcam via Getty Images)

Barclays will pay up to £7.5 million in compensation to customers after a three-day IT outage meant more than half of its payments failed.

The IT incident started at around 9:45am on Friday 31 January and lasted until the end of the weekend, with systems returning to normal on Sunday 2 February.

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Bank

Number of incidents

Compensation paid

Hours affected

Barclays

33

Up to £5 million

93

HSBC

32

£232,697

176

Santander

32

£17,000

116

Nationwide

18

£77,452

70

NatWest

13

£348,000

194

Lloyds

12

£160,000

61

AIB

9

£590

29

Danske

5

0

42

Bank of Ireland

4

£350,000

22

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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.