Halifax employee accused of £720,000 theft

Halifax, which likes to be known for its tagline 'Who Gives You Xtra’, is facing embarrassment after one of its employees allegedly took the motto a little too literally.

The taxpayer-backed bank has been left red-faced after a worker in its Redditch, Worcs, branch was arrested for allegedly stealing £720,000 from the lender’s own cash machines.

The unnamed employee, who has been suspended by Halifax, is the subject of a police investigation after the bank discovered one of its staff members had allegedly been stealing money first from its cash machines and then electronically over a period of seven months.

In a statement the bank said: “Following an internal investigation, an employee has subsequently been arrested relating to an incident at the Redditch branch.

“We continue to assist the police with their inquiries. It would be inappropriate to comment further at this stage.”

The alleged theft will be a blow to Lloyds Banking Group, which owns Halifax, and which has spent millions of pounds in the last year promoting the former building society’s brand.

Inflows of deposits to the Halifax were the main driver of the growth in customer deposits reported by Lloyds when it reported its financial results for the first half of the year last month.

Antonio Horta-Osorio, chief executive of Lloyds, has attempted to position Halifax as a challenger brand to rival high street banks.