Multiple US banks experienced deposit delays on Friday, which were attributed to an error at a payment processing network, as reported by the Federal Reserve. The issue resulted from human error rather than a malicious attack, ensuring the safety of customer deposits. Although the glitch affected numerous banks, other banking systems appeared to function without disruption.
Bank of America cautioned its customers about potential deposit delays from a widespread problem affecting multiple banks. Similarly, a spokesperson from Chase confirmed that specific customers’ direct deposits still needed to be updated.
Downdetector received complaints from customers at Bank of America, Chase, US Bank, Truist, and Wells Fargo, with some individuals on social media platform X expressing frustration at not receiving their payments on time.
The Federal Reserve informed banks that the problem arose due to a “processing issue” within the private sector operator of the Automated Clearing House (ACH), a critical network for processing […]
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