Santander: Banks give £130m for Christmas blunder
Written byTimes Magazine
The bank mistakenly deposited £130m into 75,000 accounts on 25 December.
Santander workers are now in a hurry to get their money back, though work has been hampered because most of it has been deposited into accounts at rival banks, according to The Times.
"We regret that due to technical issues, some payments from our corporate customers were incorrectly posted to the beneficiary's account," said a statement from the bank.
The error could mean that some people are getting paid twice from their employer's account, even though Santander is funding the second payment.
ruined Christmas
A payroll manager, who declined to be named, told the that the error overshadowed Christmas and Boxing Day. "It ruined my holiday because I thought I accidentally paid hundreds of thousands - I think I did something wrong," they told the news.
"I thought it was just me, and I would have problems at work." Santander did not provide any information about how the company should explain or pay the second staff payment. "It's just destruction," the payroll clerk said. "I just don't know how they're going to recover it."
The bank said it had started talks with rival banks - which The Times said included Barclays, HSBC, NatWest, Co-operative Bank, and Virgin Money. Santander said banks "will try to withdraw funds from their customers' accounts."
However, it is unclear how banks will react if their customers have spent money and whose returns will push them into overdraft. Santander said he could contact people directly to get the money back.
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