UK bank Santander got into the Christmas spirit this year by paying out a total of £130 million ($175 million) to customers by mistake on December 25
The total payment was split over 75,000 transactions for around 2,000 corporate and commercial customers, Santander said in a statement published Thursday."We're sorry that due to a technical issue, some payments from our corporate clients were incorrectly duplicated on the recipients' accounts," reads the statement.
Santander is working to recover the funds from recipient banks through the"bank error recovery process," according to the statement, and it has processes in place to seek recovery of funds deposited in error directly from recipients.Santander UK is a wholly-owned subsidiary of global bank Banco Santander, which is headquartered in Spain.The UK operation has 14 million active customers and 616 branches, according to its website.
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