Nine major banks and building societies operating in the UK accumulated at least 803 hours – the equivalent of 33 days – of tech outages in the past two years, figures published by a group of MPs show.

The Treasury Committee – which has been investigating the impact of banking IT failures – compelled Barclays, HSBC, Lloyds, Nationwide, Santander, NatWest, Danske Bank, Bank of Ireland and Allied Irish Bank to provide the data.

It does not include the Barclays outage in January or the Lloyds outage last week – two incidents which occurred on pay day for many people, and left customers unable to pay their staff and bills.

The report finds Barclays could now face compensation payments of £12.5m.

“For families and individuals living pay cheque to pay cheque, losing access to banking services on payday can be a terrifying experience,” said Dame Meg Hillier, the committee’s chair.

“The fact there has been enough outages to fill a whole month within the last two years shows customers’ frustrations are completely valid,” she added.

Speaking on the Today programme, on BBC Radio Four, she said she hoped putting the data in the public domain would encourage banks and the regulator to see if there was any more that could be done to reduce the disruption.

“This once again highlights that the traditional banking sector hasn’t kept pace with the investment needed to modernise its infrastructure,” said Patrick Burgess of BCS, the Chartered Institute for IT.

The Treasury Committee data looked at IT failures which affected millions of customers between January, 2023 and February this year. They found there had been 158 incidents.

While the data does not include the Barclays outage in January, which left one family without a home, the bank did confirm to the committee that over half of online payments over the course of the first day of the outage did not work due to “severe degradation” of their system’s performance.

The bank confirmed to the committee that it expects to pay between £5m and £7.5m in compensation to customers for “inconvenience or distress”.

When taking into account all the information shared by Barclays, this means the bank could pay out up to £12.5m in compensation due to outages over the last two years.

The second highest amount paid out by a firm in that same period is £350,000 from the Bank of Ireland.

The compensation paid out by other banks was:

• AIB (£590)
• HSBC (£232,697)
• Lloyds (£160,0000
• Nationwide (£77,452)
• NatWest (£348,000)
• Santander (£17,000)

In his submission to the committee, Vim Maru – the Chief Executive of Barclays UK – said the January outage was caused by a software problem with their system, and the incident was not due to a cyber-attack “or any other malicious activity”.

“We continue to work through the impact to ensure no customer or client will be out of pocket as a result of the incident.”

Barclays told BBC News it was “deeply sorry to customers who have been impacted by any service outage”.