Bank denies student's £2 million account bonanza
A bank has denied that a Shropshire teenager's account was wrongly credited with £2 million.
Lloyds TSB said an error had occurred which allowed William Bowen, 16, to withdraw £300 from a cash machine, even though the money was not his.
The A-level student, from Telford, bought an iPod and clothes and said when he checked his account later it showed £2 million.
Lloyds TSB said "an isolated fault" had allowed him to withdraw £300, which has since been re-credited to ensure he is not in debt. However, it said £2 million had never been displayed.
William's mother, Joanne Bowen, said her son believed the £300 to be an overdue payment and bonus from the Government's Education Maintenance Allowance (EMA) scheme, which gives students £30 a week to encourage them to continue their education.
Realising there had been a mistake, Mrs Bowen took William to the local Lloyds TSB branch to explain.
A spokeswoman for Lloyds TSB said: "Our systems show that Mr Bowen's account never displayed a balance of £2 milion. There was, however, an isolated fault which allowed Mr Bowen to withdraw the maximum daily cash withdrawal limit of £300, despite not having the funds available.
"We are investigating how this fault occurred and have re-credited the £300 to Mr Bowen's account."