Banks to be forced to publish stats on payment issues


#1

Interesting development from next summer. The FCA have told banks that from next Aug they have to publish 3 months and 12 months rolling stats on incidents when payment services were not available to their customers.

However - it doesn’t look like that covers card payments. Looks like it’s just people trying to make payments through the bank’s various different portals (telephone banking, mobile app and online website).

After the wobble that Starling had earlier this year with GPS processing card payments though, it’ll be interesting to be able to actual compare the difference between the banks (the Nationwide app, for example, seems to have 2 or 3 hours of downtime every week at the moment).


#2

I can see why they did it from next year, as all major banks are having constant downtime due to having to adapt for the new rules that are coming into force next year.