papy
November 3, 2023, 9:44pm
1
Having payment issues today? Probably not just you.
Affected banks include Bank of America, Chase, US Bank, Truist, and Wells Fargo.
The Federal Reserve alerted banks Friday afternoon the problem was caused by a “processing issue” at the private sector operator of the Automated Clearing House (ACH), a national network for processing transactions.
[Details=Full text]
Alert
What’s Happening?November 03, 2023 12:44 PM Eastern Time
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.
What Can You Do?
If you have questions or need further assistance, please contact EPN’s support center at (800) 875-2242.
Service and Support Info
[/details]
papy
November 3, 2023, 9:52pm
3
Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo complained of issues on Friday morning, according to Downdetector .
Love that one of our favorite websites was cited!
Be sure to check for yourself–the Square app, Regions, Citi, many others appear affected right now:https://downdetector.com/finance/
2 Likes
selg
November 7, 2023, 4:51pm
5
papy
November 7, 2023, 8:57pm
6
Federal data on the types of SARs that banks file show what they worry about most. Last year, banks filing SARs tagged categories like suspicious checks, concern over the source of the funds and “transaction with no apparent economic, business or lawful purpose” most often, according to Thomson Reuters.
And the kicker? SPOILER: It’s AI. Bankbots.
affected roughly 850,000 transactions . That represents a small percentage, or roughly less than 1%, of the 130,000,000 payments for Friday
0.65% that’s all?
7,800,000,000 in transactions during the third quarter of 2023
0.011% of the transactions in a 3 month period.
It is ASTOUNDING that there aren’t more problems given the volume of transactions.
selg
November 7, 2023, 11:00pm
9
At the beginning of the Pandemic, Chase cut my Visa credit line in half, saying that since I had not used it in a few years, I did not need it.
They are nasty that way. They also cut my local branch down to ONE teller behind bullet-proof glass and only left one branch open in 10021.
Well, financial institutions reputedly are rather less than keen on hiring former Amabot programmers, so…
system
February 5, 2024, 11:01pm
11
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Just like Amazon (except mostly accurate)
