Barclays has announced a £12.5 million payout to customers due to significant disruptions caused by an IT failure affecting mobile payment systems. This payout stems from outages in February and will compensate for both the immediate distress and other issues from January 2023 to February 2025. Approximately 5% of login attempts failed, with 56% of users unable to complete payments. The bank aims to proactively identify affected customers for compensation, focusing on those in vulnerable situations and streamlining the complaint process.
In a letter to the Treasury Select Committee, the bank said: "We have been taking a proactive approach to customer complaints since the incident occurred and have dealt with as many of these as possible at the first point of contact into the bank. We will continue to prioritise those customers with vulnerable characteristics or those in vulnerable circumstances."
Barclays hopes to avoid requiring customers to make a complaint in order to get compensation by using internal data to find those affected. The bank explained: "In some cases, this will involve an automated refund and in other cases we will contact customers directly to process compensation."
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