Date
26 March 2017
Standard Chartered Bank says the double payment to some salary accounts was a system error and the problem has been fixed. Photo: HKEJ
Standard Chartered Bank says the double payment to some salary accounts was a system error and the problem has been fixed. Photo: HKEJ

Standard Chartered sorry for excess payment to salary accounts

Standard Chartered Plc. has apologized for a suspected system glitch that caused erroneous payment to some salary accounts.

The bank did not say how many customers were affected but added it had been aware of the incident and had corrected the problem, Apple Daily reports.

The mistake came to light after some customers found that they had received double payment in their salary accounts.

A spokesman confirmed the excess payment but denied some customer accounts had been credited up to four times the correct amount.

The mistake was corrected almost immediately, the spokesman said.

There was no mention whether any customers have withdrawn the excess funds.

Sources said the bank notified the Hong Kong Monetary Authority as soon as the incident happened.

A system error could have caused the mix-up but the bank is continuing its investigations, the spokesman said.

Banking sources ruled out recent staff cuts as reason for the incident, saying it was more likely due to technical issues.

Danny Lau, honorary chairman of the Hong Kong Small and Medium Enterprises Association, said Standard Chartered should explain what happened and review its systems immediately.

He said the bank should also reassure employers that their payroll accounts have been put back in order.

In January 2012, Standard Chartered paid into the salary accounts of employees of a corporate customer for two consecutive days.

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TL/AC/RA

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