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A bank mistakenly distributes $ 176 million to thousands of customers at Christmas

2021-12-31T16:52:31.635Z


Payments for 2,000 company accounts were processed twice, resulting in thousands of employees seeing their salaries double just before the year-end celebrations.


By Sam Shead -

CNBC

Thousands of people received an

unexpected

gift

this Christmas: Santander bank in the United Kingdom accidentally deposited 176 million dollars (130 million pounds) in thousands of accounts of its clients and also of other entities due to 75,000 erroneous transactions.

The ruling was due to

payments for 2,000 company accounts in the country being processed twice,

resulting in many employees seeing their salary doubled in December.

Some providers also received more than they bargained for.

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According to the bank, these duplicate payments were due to a

"scheduling problem"

that has now been resolved.

The bank is attempting to recover the erroneous payments, many of which were deposited into accounts operated by rival banks.

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"We regret that, due to a technical problem, some payments from our corporate clients have been incorrectly duplicated in the accounts of the recipients," said a Santander spokesperson.

"None of our clients ever ran out of money as a result and we are going to work hard with many banks across the UK to recover duplicate transactions in the coming days," he added.

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Reports suggest that the incident may have clouded the spirits of some payroll employees on Christmas Day.

"It ruined my vacation because I thought I had paid hundreds of thousands of euros by mistake, I thought I had done something wrong

," a payroll manager told British public broadcaster (BBC).

"I thought it was just me and I was going to get in trouble at work," he added.

The manager noted that the bank has not shared how companies should explain the second payment to staff or provided any information on how it should be repaid, according to the BBC.

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Santander said that the process to recover the funds is an industry process known as the “banking error recovery process” and that it has begun to work with other banks in accordance with the process and that they will try to recover accidental payments from the banks. customer accounts.

The company also assured that it has the ability to recover funds directly from people's accounts.

Source: telemundo

All news articles on 2021-12-31

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