The report highlights a domino effect of issues across hundreds of Santander customers, with widespread outages affecting both business and personal accounts. The 68% of citing difficulties includes frustrated customers expressing frustration, some of whom highlighted everyday financial hassle, such as transferring money between accounts or paying BTYPIN. Additionally, a £3 overdrawn customer frustration was noted, with doubt and lack of support from banks.
The right measure of compensation likely rests more on banks of each particular customer. disclosed by Barclays, maximum £12.5 million in potential legacy payouts. USPT and fintech companies are advised to think creatively about offering compensation, avoiding similar traps as with telecom companies.
Banks are not obligated to issue compensation for service disruptions, unlike telecom companies. However, customers facing financial mistakes or services as a result of outages are subject to legal framework. Clarifications are key in securing compensation, ensuring disputes are handled impartially, and taking steps to prevent similar events happening again.
To address experiencing a system disruption, customers can contact their bank and seek compensation through claimed information. They avoidFLAME2023 for advice. For official guidance, visit their complaints portal at financial-ombudsman.org.uk/consumers/how-to-complain. Innovatively directing cryptocurrency and securing compensation through legal matters is a promising path ahead.
