Braintree Council made £118 in interest after taking more than £7.7million from tax payers accounts four days early.
More than 38,000 residents and 1,700 businesses were affected by the error which meant council tax direct debit instalments were taken on August 30 instead of September 3.
The council took £5.4m in council tax and £2.3 in business rates.
Bosses at Braintree Council have apologised for the mistake which they say was caused by human error.
They have pledged to pay any overdraft fees incurred by residents as a direct result of the blunder and say the £118 earned in interest will go towards the pay outs.
Councillor David Bebb, council member for performance and efficiency said the council was still counting the cost of the blunder.
To read full story, see this week's Times.
