Barclays Faces Multi-Million Pound Compensation Payout Over IT Outage

Collitcomedia08 Mar, 2025Business

Barclays is preparing to pay millions of pounds in compensation to customers following a major IT outage that left thousands unable to access their accounts, make transactions, or receive payments. According to a new letter to MPs, the banking giant estimates that it will pay between £5 million and £7.5 million in redress for the disruption caused by the outage earlier this year.