Tesco Bank: 20,000 customers lose money

Tesco bank have stopped people from making online payments after money was taken from 20,000 different online accounts. However customers will still be able to use there card for withdrawals, chip and pin payments, and bill payments. They can also use online banking but cannot make any online transactions temporarily while Tesco are working on the situation.

One man Alan Baxter lost £600, leaving him with £21.88 left in his bank account, he said 'Tesco said that they couldn't offer me any emergency funds but would offer £25 as a goodwill gesture'. As a result of this online hacking shares in the Tesco group all together have fallen 2% on the market.

I picked this story as it is a real crisis for Tesco, considering most people rely on Tesco in there everyday life whether it is for shopping or banking, Customers are going to leave the bank if the situation isn't resolved, also i found that it was shocking that Tesco wouldn't supply emergency refunds for people but would offer only £25 as a good will gesture when they are a multi million pound company.