According to its website, Co-op bank has about 3.1 million retail customers and 96,000 small business customers.
The lender said that “duplicate, historical transactions” had been appearing in some business customers’ balances.
Customers have reacted with alarm over the missing money, with some claiming they had been pushed them into their overdrafts.
One tweeted: “Utter shambles regarding duplicate historical transactions being taken from customer accounts without any notification from you this has happened.
“Thousands of £ out peoples’ accounts without even notifying customers. Tell us how this will be resolved?”
Someone else said: “I checked my balance after not being able to buy some petrol to notice that I’m now massively overdrawn and have double transactions going out from weeks ago.”
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