LONDON: Bank British Santander on Thursday tried to recover £ 130 million ($ 175 million) paid on Christmas day because of an error.
Because of “technical problems,” 75,000 payments by around 2,000 company and commercial account holders were carried out twice to their recipients, said the bank in a statement sent to AFP, confirming the report in the times.
Duplicate transactions made on Christmas morning come from the bank’s own reserve, which means that there are no clients left from the pocket, the bank said.
It added that it “will work hard with many banks throughout the UK to recover duplicate transactions over the coming days”.
Banks say payments can include wages and payments to suppliers.
Time reported that payment was made to contribute in many British banks, which are now requested by Santander to recover money.
One bank told the newspaper that would be reluctant to recover funds if the account holder had spent an unexpected window and this would give them overdraft.
Santander said that it also had “processes in place as a bank to seek the recovery of funds directly from the recipient”.
The bank said the error was caused by the problem of scheduling that “we quickly identified and repaired”.
The British Santander High Street wing has 14 million account holders and generates more than £ 1 billion in net income in the first three quarters of 2021.
British banks mistakenly pay $ 175 million on Christmas days
