London, July 03: A schoolboy became a temporary multi-millionaire after a mistake by his Lloyds TSB branch in Telford, Shropshire, UK.
William Bowen, a sixth-form pupil at nearby Thomas Telford School, was thrilled to bits when he checked his bank balance at a cashpoint and found an extra two million pounds.
He immediately withdrew 300 pounds and went on spending spree – ending up buying an iPod music player and new clothes.
However, his multi-millionaire dreams were shattered when he realised that the money was the result of his bank blunder, which landed him under debt.
The 16-year-old’s mother Joanne said she is furious with the bank for encouraging her son to get into debt.
"We were really surprised when it arrived,” The Telegraph quoted her, as saying.
"I think he used it once as a chip and pin card at a supermarket before going off to the Lloyds TSB cashpoint at Telford Town Centre.
"He withdrew £300 cash, checked the balance in his account and was astonished to see the screen displaying £2 million.
"He had several friends with him and they confirmed the figure. A couple of adults also saw it and one of them reported it to a cashier later in the day.
"William went off and spent the money the same day - any lad of his age would do so - and bought himself an iPod and some clothes.
"I went straight to the bank, discovered the account had been put £300 in arrears and spoke to the manager.
"He said at first it could not be possible. But when he saw the records he said he could not explain it and it must have been a fluke with the ATM," she added.
William had wrongly thought his account was related to the Government's education maintenance allowance (EMA) scheme, under which students get 30 pounds a week to encourage them to stay on at school.
Joanne said: "I'm powerless to do anything, but will make sure he pays the money back through his EMA bonus.
"The bank still can't explain it. They've taken back his original card and sent him a new one," added.
Lloyds TSB said it was now investigating the incident.
Lloyds-TSB spokeswoman Sara Evans said: "We have passed the details to our customer care team who will investigate thoroughly to find out what happened."
ANI
First Published: Thursday, July 03, 2008, 00:00