Hargreaves Lansdown customers unable to make transactions after tech problem
Customers at the UK’s largest DIY investment platform Hargreaves Lansdown have been locked out of their accounts, leaving them unable to make transactions during a period of severe market volatility.
Since Thursday evening, investors attempting to log on to the website were unable to access cash savings, pensions and investment accounts because of an IT failure.
The Bristol based company confirmed “technical issues” were affecting both the website and mobile app.
The firm, which manages more than £170bn, said in a statement that all customer data was secure and there was no evidence of a cyber attack.
A statement said: “We’re currently experiencing technical issues which are affecting some parts of our website and app. This is impacting clients’ ability to transact on their accounts and some of our services are currently unavailable.
“All clients’ assets and data are secure and there is no evidence of any cyber incident data breach or system compromise.”We’re sorry for the inconvenience we know this will cause and are working to restore our service as soon as possible.”
It is the latest technical problem for financial firms and providers, with Lloyds experiencing a significant technical glitch earlier this month, which caused customers to see other users’ transactions.
Earlier this week, MPs on the Treasury Select Committee wrote to the chief executive officer of Lloyds, Charlie Nunn, asking about how much compensation would be paid to those affected.
Market volatility
The problems come as investors scramble to follow the conflict in the Middle East, leaving them unable to trade amid soaring oil prices and wider volatility, with markets reacting to bombing of energy infrastructure across Iran, Qatar and the UAE earlier this week.
The Bank of England also chose to hold interest rates at 3.75 per cent in a rare unanimous decision on Thursday, raising concerns of the likelihood of rises later this year, with the FTSE tumbling to its lowest point this month.
Others are in the process of getting financial affairs in order as the end of the tax year creeps closer.
Hargreaves Lansdown customers expressed anger at the situation, replying to an X post from the firm detailing the situation.
Some accused the company of a lack of diligence, while others threatened to move to an alternate provider as soon as the problem was restored.
One called for the financial watchdog to investigate the incident, hailing it unacceptable, questioning if they will be compensated.
Last September, a glitch on the Hargreaves Lansdown website also caused panic for thousands of investors after it briefly showed incorrect account balances.
Wider competition
It also comes at a time where the firm is looking to see off wider competition, recently overhauling fees.
Hargreaves Lansdown said it will cut its annual account and share dealing fees, but add a charge for fund trading in its first overhaul of pricing in more than a decade.
The move will cost the company, which was bought by a number of private equity firms including CVC Capital Partners, Nordic Capital and Abu Dhabi’s Platinum Ivy in a deal that was completed in March 2025, tens of millions of pounds.
The changes will take effect from March, meaning eight in ten customers will pay either lower fees or the same amount according to the firm.