❗ [CNN] US banks hit by deposit delays

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.

https://www.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html


Full text

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/

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In other news: https://www.nytimes.com/2023/11/05/business/banks-accounts-close-suddenly.html?unlocked_article_code=1.8kw.Vdme.q1DfOKPkhPvZ&smid=url-share

Why Banks Are Suddenly Closing Down Customer Accounts

And the kicker? SPOILER: It’s AI. Bankbots. :expressionless: Just like Amazon (except mostly accurate)

Tuesday update…

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? :open_mouth:

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.

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…
:innocent:

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