This one may be huge..ACH systems failure!
Truist, Bank of America, Chase, US Bank, and Wells Fargo customers reported delays in their direct debit deposits and paychecks. Wells Fargo was the first to acknowledge the issue on social media, stating they were working towards a solution. Bank of America also confirmed the problem to its customers.
The issue reportedly centred around a delay in processing transactions through the Automated Clearing House (ACH) network, which is typically used for electronic fund transfers and direct deposits, according to CNN.
Bank of America reassured its customers that their accounts remain secure despite the delay. The bank informed customers that some deposits from Friday might be temporarily delayed due to the issue affecting multiple financial institutions.
Bank of America reassured customers that they don't need to do anything and their account balances would be updated as soon as the deposits were received and processed. The problem appears to have been caused by a delay in the transmission of direct deposits from a payroll company to the affected banks.
Another Twitter user, seemingly a Wells Fargo customer, wrote: "Where is my Direct Deposit @WellsFargo Me and my Co-workers are waiting to get paid."
Wells Fargo replied: "I noticed your mention. We are aware of the issue, and we are working on a resolution. We apologize for the inconvenience. At this time, there's no need to file a claim. -Ian"
A furious Wells Fargo customer took to Twitter, writing: "An outraged person who also seems to be a Wells Frago customer wrote: @WellsFargo did not post direct deposits into accounts! Paychecks missing and no answers. This is theft!!! @RubenGallego what government agency can we contact for assistance!"
In response, Wells Fargo tweeted: "I noticed your mention. We are aware of the issue, and we are working on a resolution. We apologize for the inconvenience. At this time, there's no need to file a claim. -Ian"
However, Wells Fargo has yet to respond to requests for further comment.
Truist, Bank of America, Chase, US Bank, and Wells Fargo customers reported delays in their direct debit deposits and paychecks. Wells Fargo was the first to acknowledge the issue on social media, stating they were working towards a solution. Bank of America also confirmed the problem to its customers.
The issue reportedly centred around a delay in processing transactions through the Automated Clearing House (ACH) network, which is typically used for electronic fund transfers and direct deposits, according to CNN.
Bank of America reassured its customers that their accounts remain secure despite the delay. The bank informed customers that some deposits from Friday might be temporarily delayed due to the issue affecting multiple financial institutions.
Bank of America reassured customers that they don't need to do anything and their account balances would be updated as soon as the deposits were received and processed. The problem appears to have been caused by a delay in the transmission of direct deposits from a payroll company to the affected banks.
Another Twitter user, seemingly a Wells Fargo customer, wrote: "Where is my Direct Deposit @WellsFargo Me and my Co-workers are waiting to get paid."
Wells Fargo replied: "I noticed your mention. We are aware of the issue, and we are working on a resolution. We apologize for the inconvenience. At this time, there's no need to file a claim. -Ian"
A furious Wells Fargo customer took to Twitter, writing: "An outraged person who also seems to be a Wells Frago customer wrote: @WellsFargo did not post direct deposits into accounts! Paychecks missing and no answers. This is theft!!! @RubenGallego what government agency can we contact for assistance!"
In response, Wells Fargo tweeted: "I noticed your mention. We are aware of the issue, and we are working on a resolution. We apologize for the inconvenience. At this time, there's no need to file a claim. -Ian"
However, Wells Fargo has yet to respond to requests for further comment.
