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Twice as many of them were paid due to bank failure

The financial institution mistakenly sent $176 million, or roughly $570 billion, in 75,000 transactions on December 25 – CNBC writes.

The error occurred when 2,000 labor bill payments were processed twice, meaning some employees doubled their wages and suppliers also received more than they expected.

The bank said the double payments were caused by a scheduling issue that has now been fixed.

The bank is now trying to recover the erroneous payments, many of which went to bank accounts operated by rival banks.

“We regret that due to a technical issue, some payments from our corporate customers were incorrectly replicated in the recipients’ account,” a Santander spokesperson told CNBC.

“None of our customers have been harmed by this and we will be working hard with a number of UK banks in the coming days to restore duplicate transactions.”

Santander said the refund process is an industrial process called “bank failure recovery process.” He added that he has started working with other banks as per the procedure and that these banks will try to recover incidental payments from their customers’ accounts.

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