TSB has been hit by an IT failure that has left customers waiting for wages and other payments to be made into their accounts.

The bank said that those affected by the failure would not be left out of pocket, and that it is possible to receive emergency cash in branches or over the phone, but many customers have complained about long waiting times for calls.

The latest IT issue comes less than a month after a report from the Treasury Committee had suggested the current level of IT failures in the financial services sector was ‘unacceptable,’ as well as just days since TSB was criticised for the IT failures in April 2018 that impacted 1.9 million customers.

An investigation into that incident had found the bank's board lacked ‘common sense’ when it was planning to switch its customers towards a new IT system – which an independent report suggested had not been properly tested before going live.

The total number of affected customers by TSB’s latest failure is still unclear and it remains unknown when the problem will be fixed.

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