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Banking Issues

All articles tagged with #banking issues

finance2 years ago

ACH Banking System Issue Causes Nationwide Delay in Direct Deposits

Direct deposits are being delayed at multiple banks across the U.S. due to an issue with the Automated Clearing House (ACH) system, which is used for electronic funds transfers. Banks such as Bank of America, Chase, U.S. Bank, and Wells Fargo have confirmed the delays, assuring customers that their accounts remain secure and balances will be updated once deposits are received. The Federal Reserve reported a processing issue with a batch of transfers, specifically with ACH's private-sector operator, EPN. Hundreds of individuals have reported issues with their banks on platforms like Twitter and Downdetector.

via FOX 31 Denver|
#ach-banking-system#banking-issues#delayed-payments
bankingtechnology2 years ago

Zelle users face deposit access issues, updates underway

Hundreds of Chase and Zelle users experienced issues accessing their bank deposits and making transfers, with over 1,500 Chase customers reporting problems. Chase acknowledged the issue and stated they were working to restore full service. Users expressed frustration online, while hackers impersonated Zelle in a complex email scheme. Chase's mobile banking app was also affected, and some users reported issues with card transactions. The bank is investing $14 billion in new technology and plans to close 21 branches. Reports of the outage continued to rise, with the majority of issues related to transfers and wires.

via The US Sun|
#banking-issues#bankingtechnology#chase