Is internet and mobile banking safe?
Internet and mobile banking is a more convenient way to manage your money and is generally safe as long as you keep your details secure.
Banks and building societies have plenty of processes to keep their websites and apps secure or they could get in trouble with the Financial Conduct Authority.
Their websites are encrypted so only you can view your account page and they are programmed to time out after a period of inactivity.
They will have strict login processes that may require a card reader or sending a code to your mobile phone.
There are steps you can take such as setting up a login and password that cannot be easily guessed and only logging into your account from a secure and private wi-fi connection.
Also, check who you are transferring money to and ensure they are legitimate.
The rise of online banking has also encouraged scammers to try to dupe account holders with emails and text messages.
Always check details with your bank separately.
The main providers also offer a service that verifies the details of someone you are transferring money to, which gives you an extra layer of security and ensures that person or company is genuine.
Co-operative bank apologises to customers
The co-operative has issued an apology to customers following their site problems this morning.
The statement said: “We’re experiencing an issue which may be affecting access to some of our services.
“We’re sorry for any inconvenience. We’re working hard to resolve this and hope to restore the service as soon as possible.”
What should I do if I can’t access my money online?
In the first instance, The co-operative encourages you to contact it via Twitter.
But if you urgently need access to your money, go to your local co-operative branch. You can find your local branch using its store locator.
If you don’t have a local bank branch nearby or don’t have transport to get to it, you can try and contact the bank and ask for its guidance on what to do.
There are more details about how to contact The co-operative on its website here.
How to claim compensation for major app, bank account and card issues
Banks don’t have to pay out compensation to customers if there has been a drop in service, unlike how telecoms companies have to.
But if you have incurred costs as a result of service issues, you could be likely to get your money back.
For example, if a bill payment didn’t go through as a result of an outage and you’ve been charged a fee for missing it, you should be able to claim that money back.
What have the co-operative said?
The co-operative bank have been experiencing issues with their services this morning.
In response to a frustrated customer, the bank said: “We’re currently experiencing an issue with our online services (Online Banking and Mobile App).
“I’m really sorry about any inconvenience this causes and I can assure you that we are working to get this resolved as quickly as possible.”
Users vent their frustration
One customer took to X, formerly known as Twitter to complain saying: “Yet again can’t log in to business app. Shocking inefficiency.”
A second wrote: “Wow! Second time this week my @CooperativeBank #CoOperativeBank #TheCoOperativeBank online banking AND app have been down.
“Considering I only moved to them recently my patience is starting to wear thin with the issues I’ve had and am considering switching.”
