The mistake was made when payments from 2,000 accounts of some UK companies were processed twice, which means that some employees saw their salaries doubled, while suppliers also received more than expected.
The bank said the duplicate payments were caused by a “scheduling issue” which has now been rectified.
The financial institution is currently trying to recover the wrong payments, many of which went into bank accounts operated by competing banks.
“We are sorry that due to a technical issue, some payments from our corporate customers have been incorrectly duplicated in recipients’ accounts. “None of our customers have been left without money, and we will work hard with many UK banks to recover duplicate transactions in the coming days,” a Santander spokesman told CNBC.
Information suggests that the incident may have affected the mood of some employees on Christmas Day and the so-called Boxing Day.
“It ruined my vacation because I thought I had paid hundreds of thousands by mistake – I thought I had done something wrong. I thought it was just me and I was going to have problems at work, “said a paid director for the BBC.
The director added that Santander did not share how companies should explain the second payment to staff, nor did it provide information on how it should be reimbursed.
Santander said the process of recovering funds is an industrial process known as the “bank error recovery process”. She added that she has started working with other banks in accordance with this process and that these banks will seek to recover accidental payments from their customers’ accounts. Santander said it also has the ability to recover funds directly from people’s accounts.
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