Santander sent $ 175 million on Christmas due to a technical error

General view of the Santander headquarters on 18 May 2012 in London, England.

General view of the Santander headquarters on 18 May 2012 in London, England.
Photography: Dan Kitwood (Getty Images)

Tens of thousands of people in the United Kingdom probably thought this was especially good for them last year when they saw their bank accounts on Christmas and they all had more money than they expected. Alas, Santa doesn’t have enough money in his reserves to justify it $ 176 million in payments, but the European bank Santander is doing it, and it wants its money back, please.

In the past few days, it turned out that it was due to a “technical problem”, ”On December 25, Santander UK sent millions to about 75,000 people and companies who should not have received the money. He reported first Times of London, the payments were sent to individuals who had already was pays one of the 2,000 companies with accounts in Santander.

The bank essentially paid these people a second time, although the money for the surcharge is approxme from my own coffers. It must hurt, but it’s probably much less painful than the anger of 2,000 customers if the situation is reversed.

According to New York Times, many of the 75,000 people who received payments were clients of rival banks, including Barclays, HSBC and Virgin Money. In a statement to the release, Santander UK apologized for the mistake and said it would work with its rivals to get the money back. He will also use his own processes in the operation, but did not specify which ones they were.

“We are sorry that due to a technical problem, some of our corporate clients’ payments were incorrectly duplicated in the recipient’s accounts,” the bank told the Times. “None of our clients have been left without a pocket at any time as a result, and we will work hard with many banks across the UK to recoup duplicate transactions in the coming days.”

Gizmodo contacted Santander UK on Saturday to find out more about the technical error that occurred and asked what consumers who received the wrong payment should do in response. We haven’t received a response yet, but we’ll make sure to update this article if we do.

Although it was the bank’s fault, the people who got the money could end up in the biggest trouble, especially if they spend it. (I may have watched too many dramas, but spending money that mysteriously ends up in your account sounds like a recipe for disaster).

Take warning Kelyn Spadoni, an emergency dispatcher in Louisiana who was early In 2021, she mistakenly received $ 1.2 million from Charles Schwab, her brokerage firm. In fact, the company originally intended to pay only $ 82.56 into it Fidelity account. Spadoni continued to buy a car and house within one day of receiving the money and she refused to respond to Charles Schwab when he contacted her asking for money.

Last year, Spadoni was arrested for theft, fraud and illegal transfer of funds. In the end, Charles Schwab managed to get back about 75% of the money, but it is not clear what happened to the rest.

People, we already have too many problems, so let’s do ourselves a favor 2022: Don’t spend money unless you signed for it and you don’t know where it comes from.

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Naveen Kumar

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