In February, a number of mobile payment systems went down due to an “industry-wide” IT failure, causing disruption to customers.
The Treasury Select Committee said that it expects the major bank to pay out between £5 million and £7.5 million for the “inconvenience or distress” caused by the outages.
The remainder of the £12.5 million sum will cover other issues that occurred between January 2023 and February 2025.
It is estimated that around 5% of login attempts failed during the outages at the start of the year.
A further 56% of those who successfully logged in and attempted to make a payment also failed to do so.
Who is eligible for a payout from Barclays over the outages?
According to The Metro, those who have been affected financially by the outages may be eligible for compensation from the bank.
While the exact amount you could receive has not yet been revealed by Barclays, the amount will likely depend on the impact had on you.
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”
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Barclays has said it hopes that it can avoid requiring customers to make a complaint in order to get compensation by using internal data to find those affected.
They would then get in contact with the affected parties or simply make an automated payout.
The bank explained: “In some cases, this will involve an automated refund and in other cases we will contact customers to either provide additional information or confirm the action we are taking.”
