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8 November, 2016
Tesco Bank announces full service has resumed for customers
Issued at 22.00 on 08/11/16
Tesco Bank today confirmed normal service has resumed following the temporary suspension of online transactions from current accounts.
The Bank also confirmed that personal data was not compromised as a result of fraud that took place over the weekend of 5-6 November and that online transactions had been suspended to prevent criminal activity.
Tesco Bank CEO, Benny Higgins commented:
“Our first priority throughout this incident has been protecting and looking after our customers and we’d again like to apologise for the worry and inconvenience this issue has caused.
“We’ve now refunded all customer accounts affected by fraud and lifted the suspension of online debit transactions so that customers can use their accounts as normal. We’d also like to reassure our customers that none of their personal data has been compromised.”
Tesco Bank has now confirmed around 9,000 customers were affected by these fraudulent transactions and all customers affected were fully reimbursed by the evening of Tuesday 8 November. The total cost of refunding these customers is estimated to be £2.5 million.
Tesco Bank confirmed it is continuing to work closely with the authorities and regulators in their criminal investigation of this incident.
Notes to editors
1. Tesco Bank has 7.8 million customer accounts across the UK. 136,000 customers hold current accounts with the Bank, of these 9,000 were identified as being victims of fraud.
2. Although services such as mobile banking, cash withdrawals, chip and pin payments, existing bill payments and direct debits have continued as normal throughout this incident, Tesco Bank suspended online debit transactions as a precautionary measure on Monday 7 November. This suspension has now been lifted and normal service was resumed for customers on Tuesday 8 November.
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