Bank of America and Other Major Banks Experience Deposit Delays and System Outages
Bank of America has warned customers that their deposits may be delayed due to an issue impacting multiple banks, including Chase, US Bank, Truist, and Wells Fargo. The problem appears to be related to the Automated Clearing House (ACH) system, which processes transactions. The ACH system is crucial for electronic payments, including direct deposits and bill payments. The banks have not provided further details, but customers have been assured that their accounts remain secure and balances will be updated once the deposits are received.