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

Banking companies Truist, Bank of America, Chase, US Bank, and Wells Fargo are experiencing severe outages today.

The disruptions reportedly began at around 8am ET. Wells Fargo has acknowledged the issue on social media and said they are working towards a resolution. Bank of America also acknowledged the issue in a message to customers.

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The problem reportedly revolves 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.

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.

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Customers have reported experiencing delays in the posting of their direct debit deposits and paychecks.

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”

Is the US banking system down today?

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”

So far, Wells Fargo hasn’t provided a timeline for when the issue will be resolved.