On December 25, Santander's UK branch mistakenly sent a total of £130 million (about 1.12 billion yuan) to 2,000 customers on Christmas Day, according to foreign media reports. On this day, after receiving a "windfall from heaven" and learning that it would be gained and lost, some of the two thousand "lucky" customers expressed their frustration.
Bank santander charts the network
According to a statement released by the bank on Dec. 30, the money was due to "technical problems" that led to some business users' transactions being mistakenly copied, and the 75,000 copied transactions transferred the huge amount to about 2,000 accounts, including regular and one-time payments, such as vendor payments or payroll payments.
Briton Jenny told the media that she received a salary of £1764.5 on December 24, and as a result, on the 25th, she received a payment of exactly the same amount, and both money came from her boss. When she confirmed with her boss, she was told that the company had not paid the money at all, and the bank would directly solve the mistake. For Jenny, the feeling of a surprise and a loss made her "very depressed."
Because the accounts that receive the money belong to a number of different banks, Santander is stepping up its partnership with banks across the UK to recover money directly from the receiving bank through the Bank Error Correction Procedure in the coming days.
However, one of the banks told the media that if customers had already spent the "windfall", they would not be willing to get the money back because it would overdraft their accounts. But Santander said it already had "procedures in place as banks to recover these amounts directly from the payee".
£130 million is undoubtedly a huge sum, but it is much inferior to the $500 million (about 3.18 billion yuan) lost by Citibank in the United States due to mistakes. Citibank, the loan manager of Revlon Cosmetics, was supposed to repay a $7.8 million interest to its lender on its behalf, but instead remitted nearly $900 million and directly repaid a loan that was due in 2023. After this misoperation, some lenders returned the money, but 10 asset managers refused to return a total of about $500 million. In February 2021, the court ruled that Citibank was not entitled to get the money back, and citibank's incident was also described as one of the most significant mistakes in the history of the banking industry.
Red Star News reporter Lin Rong
Edited by Guo Yu
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