Co-op Bank customers expressed their frustration on social media after a glitch caused payments to be taken twice from some small business accounts. One customer even claimed to have lost £5k, sparking concerns about a potential hack. The bank acknowledged the issue and apologized for any inconvenience caused while working to fix it.
With over 3.1 million retail customers and 96,000 small business customers, the Co-op bank is a significant financial institution. The bank clarified that this was only affecting a small number of business account holders and that they were working diligently to address the problem. Customers who have been impacted are upset over the missing funds, with some finding themselves suddenly pushed into their overdrafts.
Many customers have voiced their concerns on social media, expressing frustration over the situation. Some have reported long wait times to speak with someone at the bank. The Co-op Bank has 50 branches across the UK and employs around 3,400 staff. A decade ago, the bank separated from the wider Co-op Group due to financial challenges. Recently, it has been acquired by Coventry Building Society for £780m in a move that will restore its mutual structure.