Barclays starts compensating customers up to £100 following a banking outage

Customers will receive up to £75 million in compensation from Barclays after an IT outage interrupted its banking services

Customers of Barclays have begun to receive compensation following the January 31 IT outage that interrupted many of their banking services.

For many customers, the outage prevented them from receiving and spending their paychecks until February 2nd. Some customers' paydays and the deadline for filing their HMRC self-assessment tax returns fell on the same day as the incident.

In the previous month, Barclays stated that they anticipated compensating customers affected by this series of outages with between 5 million and 7.5 million.

Though some will take longer because of the complexity of individual cases, the majority of impacted customers who are eligible for compensation should have received payment from Barclays yesterday or today.

The amount of compensation paid varies from 100 to 100, although it is decided on an individual basis.

The impact this incident has had on our customers who were unable to access some of our services during the incident period is something we sincerely regret," Barclays wrote in a February letter to the Treasury Select Committee.

Am I eligible for reimbursement from Barclays?

You might be eligible for reimbursement if you are a Barclays customer and your regular banking operations were interfered with during the January/February IT outage, such as when you were unable to pay a bill and faced late fees.

You can anticipate receiving a letter in the mail informing you that your compensation is on its way if you will be receiving one in this wave of payments.

The reference "Barclays UK Refu" will show up on your bank statement once the compensation has been paid.

Barclays customer service can be contacted if you think you should have received compensation but didn't.

What are the other instances of banking outages?

Customers have experienced at least 803 hours of disruption due to at least 158 banking IT failures since January 2023, according to the Treasury Select Committee.

Outages have been reported at HSBC, Santander, Nationwide, NatWest, and Lloyds, among other banks and building societies.

If an IT outage caused your banking services to be interrupted, you might be eligible for reimbursement.

In addition to Barclays, Nationwide has distributed 77,452 to consumers over the past two years, and NatWest has distributed 348,000 during the same time frame.

You may not receive any compensation if you don't meet the eligibility requirements set by various banks.

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