BOV Confirms Technical Error Behind Multiple Stipend Payments

Bank of Valletta has confirmed that a technical issue was the cause that some students received their stipend payment more than once earlier today.

In a statement issued this afternoon, the bank said that a payment file related to student stipend run was processed multiple times, resulting in duplicate credits being deposited into a number of accounts.

The issue was identified shortly after it occurred, with the bank saying immediate action was taken to prevent further duplicate payments from being processed.

BOV reassured customers that only the duplicate amounts will be reversed and that original stipend payments will remain unaffected.

Importantly for students wondering what to do next, the bank said no action is required from customers.

The bank’s Operations and IT teams are currently working to identify all affected transactions and reverse the duplicate entries in a “controlled and orderly manner”, with account adjustments expected to appear over the coming days.

Bank of Valletta apologised for the inconvenience caused and thanked customers for their understanding while the issue is resolved.

So if your account balance looked healthier than usual this morning, don’t get too attached, BOV says the extra funds will be reversed in the coming days.

Where you affected by this error?

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Gabriel Falzon

Gabriel Falzon is a social media executive at Lovin Malta, with a keen interest in digital media, local businesses, and the natural world. Outside of work, you’ll often find him baking up a storm, diving into video games, or exploring the endless corners of YouTube.