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JPMorgan Chase, Bank of America, and U s Huge cyber outage caused by bank systems crashing


Bank of America, Chase and U.S. Bank systems DOWN today as direct deposit systems crash

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U.S. Bank, Bank of America, Chase and Wells Fargo are among the banks with direct deposit payment issues today, with users reporting the systems are down

direct deposit

Banks reported a delay in the posting of direct deposits on Friday, November 3

Banking companies Truist, Bank of America, Chase, US Bank, and Wells Fargo were experiencing delays in the posting of direct deposits today.

The disruptions reportedly began at around 8am ET and seem to have concluded at 1:30pm ET. Customers reported experiencing delays in the posting of their direct debit deposits and paychecks. Wells Fargo first acknowledged the issue on social media and said they were working towards a resolution. Bank of America also acknowledged the issue in a message to customers.

A Chase spokesperson said: "A system issue affected ACH debits and credits sent to us, as well as to other banks. The originators of these deposits are working to resend the payment files and we will post them as soon as we can."

The other institutions haven't released any official statement as of yet. Bank of America didn't immediately reply to a request for comment. Wells Fargo and Truist declined to comment on the issue and instead referred The Mirror to The Clearing House, the company involved in the delayed payments.

The Clearing House said in a statement: "The Clearing House (TCH) has experienced an ACH processing issue which impacts less than 1% of the daily ACH volume in the United States. TCH is working with the financial institutions who have customers that have been impacted."

The Clearing House is owned by financial giants including JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co.

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The problem reportedly revolved around direct deposits not updating due to a delay in processing transactions through the Automated Clearing House (ACH) network, which is commonly used for electronic fund transfers and direct deposits, per CNN.

Bank of America alerted its customers about the problem and assured them 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 impacting multiple financial institutions.

Map of where disruptions were reported on Downdetector.com (

Image:

downdetector.com)

Bank of America also stated that customers don't need to take any action and that their account balances would be updated as soon as the deposits were received and processed. The issue seems to have been caused by a delay in the transmission of direct deposits from a payroll company to the affected banks.

The message seen by customers read: "Some deposits from 11/03 may be temporarily delayed due to an issue impacting multiple financial institutions. Your accounts remain secure, and your balance will be updated as soon as the deposit is received. You do not need to take any action." Bank of America didn't immediately reply to a request for comment.

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In an update at 12:44pm ET, the Federal Reserve Bank Services said that "All Federal Reserve Financial Services were operating normally."

Previously, they explained the issue as such: "On November 3, 2023, a processing issue at EPN, the private sector ACH operator, resulted in a number of ACH entries having certain data elements obscured (file dated for November 1, 2023, processed on November 2, 2023, with effective dates from November 2-3).

"This error was contained in a single interoperator file that was distributed by EPN to its participants during the November 2 6:00 p.m. processing window. These entries contain valid Nacha syntax, but obscured account information and recipient information.

Map of Bank of America delays as reported on Downdetector.com (

Image:

downdetector.com)

"What Can You Do? EPN has informed us that these items are not able to be processed by receiving depository financial institutions (RDFIs) because of the obscured data. EPN has instructed its participants to initiate returns, and originating depository financial institutions (ODFIs) will need to be prepared to initiate new items to complete the payments.

"If you have questions or need further assistance, please contact EPN’s support center at (800) 875-2242. Service and Support Info: General questions about Federal Reserve Financial Services can be directed to the Support Center at (833) 377-7827."

Is the US banking system down today?

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Responding to a customer who said (sic), "Wells Fargo direct deposit is officially a day late and customer service has no time frame when the money will come wtf," a Wells Fargo employee has said: "I noticed your tweet. 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"

Twitter account Financelot wrote that widespread outages and disruptions have been observed today with banking companies including Truist, Bank of America, Chase, US Bank, and Wells Fargo.

They later wrote: "Seems the bank issues were a technical glitch with the Federal Reserve system. Apparently it's resolved but will take time to work through the backlog, at least that's the story right now."

Another Twitter user wrote to Ask Wells Fargo: "Woke up to my staff about to jump me cause direct deposit broke on payday/winter bonus day thanks Wells Fargo and chase"

To which a Wells Fargo employee replied: "Hi. I noticed your comment. I apologize for the inconvenience. There is a reported issue. Our technical teams are aware and working to resolve this issue. -Alfredo"

A Twitter user with the handle @Houses2Home has written: "Chase told me they hope to have one wave corrected by 6pm, and a second by 11 pm. Has anyone else talked directly to your bank? What are they saying?"

On Downdetector.com, a user commented: "My company sent this email today.. Hopefully this helps: We're aware of delays in one of the banking networks that manages ACH deposits for multiple organizations and businesses. Direct deposits and debits did not appear in accounts as expected. Banks are working urgently to post the transactions today. We'll continue to post updates on status. No further action is required."

Another Twitter user who appears to be 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"

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!"

Again, 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"

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