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Barclays expects to pay up to 7.5 million IN compensation to customers after a stop at the UK Bank meant that more than half of its payments failed over a three-day period last month.
Bank said in a letter to the Treasury Election Committee – which on Thursday published the findings of an investigation into the largest banks in the UK in the Barclays incident – waiting to pay between £ 5m and 7,5m for clients.
Britain’s nine best banks and construction companies accumulated the equivalent of more than 33 days of interruptions of technology and unseen systems in the last two years, according to data collected by the Committee. She also found that at least 158 IT failure incidents had occurred between January 2023 and February 2025.
Barclays’ three-day termination began on January 31st and caused unrest for millions of clients, including those trying to fulfill a time limit for making payments for HM’s income and customs after submitting their self-evaluation tax statements.
The High Road Bank confirmed that 56 percent of online payments during last month’s incident failed due to a failure of the main systems.
The probe revealed that the UK Bank had already paid 5 million in damage after suffering 33 interruptions over the past two years, excluding the most recent incident – the largest number of all banks that have been rated. This means that Barclays can end by paying a total of 12.5 million in compensation due to outages that have occurred since January 2023.
HSBC suffered 32 breaks in that period, the second higher number and paid to clients more than 200,000 in in compensation. Natwest was hit by 13 incidents lasting 194 hours, most of the time, making the bank pay nearly 350,000 for consumers in compensation.
“For households and individuals living paid checks to pay checks, loss of access to banking services to salary can be a terrible experience,” said Dame Meg Hillier, chairman of the Treasury Election Committee. “The fact has had enough interruption to fill a whole month within the last two years shows that clients’ disappointments are completely valuable.”
Barclays chief of the UK Vim Maru said in a letter to the Committee that the bank’s management was “deeply bad for the impact this incident has had on our clients who were unable to use some of our services during the incident.”
He added that “Barclays’ priority and concentration was to act quickly with the interests of our clients always ahead” while the bank had proactive with clients within the first two hours of the incident, which he flags to the regulators.
David Raw, the UK managing director, said banks invest “billions in systems and technology” to ensure that customers can use their money easily, which means incidents that cause significant interruptions occur “very rarely”.
“If an issue arises, the bank will work extremely a lot to correct it as soon as possible and minimize the client’s impact,” he added. “Banks also keep customers updated and supported, including paying compensation where appropriate.”
