TSB staff to get IT meltdown bonus

The bank is expected to report a loss this year and has yet to to resolve 66,000 out of 184,000 customer complaints lodged in the wake of a botched IT platform migration in April that left some bank customers shut out of their accounts for weeks.

The payout will cost £11 million in a move likely to raise eyebrows among customers affected by the fiasco.

The bank said the bonus was for “the exceptional team effort across the business to put things right for our customers”.

The disaster in April saw 1.9 million people locked out of accounts and sparked an unprecedented wave of fraud. Branches were also flooded with huge queues.

The bonus will be paid on December 20 and will represent a 7 per cent bonus for frontline staff, who earn around £21,000 on average.

Part-time staff and new joiners will receive a smaller amount.