Bank down? Here’s what to do if you can’t access your money

If you’ve experienced banking problems today (20 October), you’re certainly not alone.

An outage affecting Google’s cloud services in the UK has caused widespread disruption, leaving millions of customers unable to access their accounts or move money.

Customers of digital bank Revolut reported problems with several services, including being locked out of their accounts and having their cards declined at the till.

Earlier this month, Santander’s mobile banking app went down twice in a week, leaving customers unable to access their accounts and use other services.

The Financial Conduct Authority (FCA), the UK’s financial regulator, confirmed it was in contact with Google and seeking more information about the outage.

These incidents are a reminder that banking technology doesn’t always work as it should.

So, if you find yourself unable to access your money, what should you do?

Don’t panic if your card is declined

A declined card can be embarrassing, especially when you’re standing at the checkout with a queue building behind you.

But try not to worry, as there are several possible explanations, and not all of them mean something serious is wrong.

Your card might be declined because:

• You don’t have enough money available. You may have a lower balance than you thought or have reached your credit limit.
• Your card is damaged or expired. A worn chip or magnetic strip can prevent it from working, while an expired card will need replacing.
• You’ve entered the wrong details. This is particularly common when shopping online.
• Your card is locked or blocked. You may have frozen it yourself, or your bank may have blocked it after detecting a potential problem.
• You’ve reached a spending limit. Your bank may have a daily limit on your card transactions.
• Your new card hasn’t been activated. Some cards need to be activated before you can use them.
• Your bank has spotted unusual activity. A transaction that looks suspicious may be stopped as a precaution.
• Your bank is experiencing technical problems. An outage could affect payments, your banking app or access to your account.

Try these steps if your banking app or card isn’t working

If you’re having trouble accessing your money, here’s what you can do.

Check whether the problem is widespread

If your banking app won’t open or your card keeps being declined, check your bank’s official website or social media channels for updates. You may find that the problem is affecting other customers, too.

Try another way to access your account

If your banking app isn’t working, see whether you can log in through your bank’s website. If the website is also down, the issue may be affecting more of its services.

Check your balance and card settings, if you can

Make sure you have enough available funds, your card hasn’t expired and you haven’t accidentally frozen it. Bear in mind that balances and transactions may not update normally during an outage.

Use another payment method if you have one

If your card won’t work at the till, try another card or a different payment method. If you have an account with another bank, you may be able to use that instead.

Contact your bank if you’re still stuck

Use the phone number on the back of your card or the contact details on the bank’s official website. If the problem is widespread, you may need to wait for services to be restored.

Avoid repeatedly attempting the same payment

If a transaction appears to have failed, check your account before trying again, where possible. This can help you avoid accidentally paying twice if the original payment went through but the confirmation was delayed.

Don’t assume your money has disappeared simply because you can’t see your account. A technical problem can prevent you from accessing your balance without meaning that the money itself has been lost.

How to prepare for the next banking outage

You can’t prevent a bank’s technology from failing, but you can make sure you’re better prepared if it happens again.

• Keep a backup payment method. Having a second card or another way to pay can be invaluable if your usual card stops working. If possible, keep your backup with a different bank, as separate cards linked to the same provider may be affected by the same outage.
• Consider spreading your money across different banks. Keeping some money in an account with a separate provider can give you another way to access cash if your main bank experiences problems. Make sure you understand any account fees and deposit protection limits.
• Keep a little emergency cash. A modest amount of cash can help you cover essential purchases if card payments and cash machines are temporarily unavailable. Only keep what you feel comfortable carrying or storing securely.
• Know your alternative login options. Find out whether you can access your account through both an app and a website, and keep your login details secure. Remember that both methods may be affected if the underlying system is down.
• Consider a prepaid card if it suits your needs. Loading a prepaid card with a small amount in advance can give you another payment option. Check any fees, spending limits and how you can access the money before choosing one.
• Plan ahead with your partner or household. If you share finances, make sure you have an agreed way to cover essential expenses if one person temporarily loses access to their account. Separate accounts with different providers may offer more flexibility, although they won’t guarantee uninterrupted access.

Watch out for banking scams

Unfortunately, fraudsters may try to exploit confusion during a banking outage by pretending to be from your bank and claiming they can help you restore access.

Be particularly cautious if you receive an unexpected phone call, text or email asking you to verify your account, click a link, transfer money or share security details.

Remember:

• Don’t click links in unexpected messages claiming your bank account has been affected.
• Never share your PIN, password or one-time passcodes with someone who contacts you unexpectedly.
• Don’t move money to a so-called “safe account” because someone tells you to.
• Check for updates using your bank’s official app or by typing its website address into your browser.
• If you’re worried about a message or call, end the conversation and contact your bank using a trusted number.

If you think you’ve been targeted by a scam, contact your bank as soon as possible using its official contact details.

Banking outages can be frustrating, particularly when you need to pay for something or access money urgently. But a card being declined or an app refusing to open doesn’t automatically mean there’s a problem with your money.

Check your bank’s official updates, try another payment method if you can, and contact your bank if you need help.

A little preparation now, such as having a backup card and keeping some emergency cash, can also make the next outage much less stressful.