A UK bank tries to recover $ 175 million it paid by mistake at Christmas

The British subsidiary of Banco Santander mistakenly doubled 75,000 payments made by some 2,000 customers, thus adding the amount of 175 million dollars.

The British subsidiary of Banco Santander mistakenly distributed 130 million pounds (about $ 175 million) on Christmas Day that you hope to recover.

On December 25, due to a “technical problem”, 75,000 payments made by some 2,000 clients were duplicated in the accounts of their beneficiaries, said the bank on Thursday in a statement transmitted to AFP, confirming information from the newspaper The Times.

The duplicate transactions were charged directly to the bank’s coffers and “at no time did any customer pay out of pocket,” Santander said, needing “to work with numerous banks throughout the United Kingdom to recover” the amounts in question.

Among the beneficiaries of the transfers are employees or suppliers of some of Santander’s client companies –for which they received their salary or payment twice-.

The transfers were made to accounts at several other British banks, making it difficult to recover the funds, according to The Times.

The newspaper noted that one of those institutions claims not to want to get the money back if it means the account holder goes overdrawn.

Santander claims to have “quickly identified and corrected” the planning problem that led to the erroneous payments, adding that it opened a “bank error recovery procedure” with the beneficiary banks. (I)

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