Anyone else seeing this today? Banks not processing deposits Friday 11.3 (more in comments)
(media.greatawakening.win)
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Nope just checked the mattress. Deposit was made.
This is my BoA business account. Fridays are pay days and oh wouldn't ya know (on 11.3 of all days!) deposits are delayed "due to an issue impacting multiple financial institutions"
What is the issue?
Why no explanation?
Why on a Friday?
On 11.3?
This is not a brag, but I just checked my credit union account online, and everything is normal. It was the early rumblings of the banking problems (and the criminal pecadillos they partake in) that made me pull everything from Chase and move it to a CU. I'm hoping that the pending crash doesn't take down the CUs as well, but I'll be pulling much of my cash out today just to be safe.
Local hometown bank here, also good!
I did the same thing 3-4 weeks ago. Still got a lot more funds to move. A cute side note, they are across the street from Chase!
This is all I found. Admittedly did not spend much time searching.
Banks Report Issues with Direct Deposits
Thx for the dig fren.
Because of information on this board, we moved to a local credit union. Glad we did, glad I stumbled onto this site.
My wife and I did the same recently. I feel much better now about our choice.
I had the same thing with Wells Fargo last summer. I think were experiencing bubbles in a system that's about to fail.
Yea, I think they are "testing" the banking systems with these unexplained "outages" for when the real damn breaks. Hope I'm wrong, but this is very suspicious activity. Why on a Friday when almost ALL businesses process payroll?
I'm with you. I hope were wrong.
Most major software change testing is done on Fridays and weekends when possible to avoid business impact.
That they’d do the same thing to allow the least reaction time for us doesn’t mean that a late weekday outage is precursoral testing, it’s sensible legitimate business practice as well.
My daughter had this happen today with PNC. She’s panicking at what is going on. So I guess it’s a number of banks. What could cause this on such a scale to numerous banks?
Thats what I'm wondering. Highly sus. From other commentors, it sounds like the small banks and cred union banks are not experiencing the issue, but the big boys like BoA, PNC, Chase, WF, etc are. Also incredibly sus that they're not providing an explanation.
ACH software issues
That’s the Federal Automatic Clearing House. Who does that belong to? Seems very sus.
Could he the software the banks are using. Very outdated in many cases. Dad wrote some in the late 90s for a bank that was still using his software 20 years later and asking him for updates when he hadn't worked there in a decade or so
Sounds like a nudge toward feeling the precipice for those insistent on sleeping through it.
Daughter just got an email from her employer (large federal government contractor) which states it’s a systemic issue with the Federal Automatic Clearing House. Sounds like some Federal crap….
Appreciate the update fren. So the f3ds can pull the plug on this ACH whenever they see fit, it would seem.
Back several years ago my local bank was purposely bouncing all my checks. Though I had direct deposit of my pay 3 days before payday (to allow bank to clear it for use on payday). So I pay my bills and they are bouncing. Met with bank manager and he shows me my deposit wasnt processed for 2 weeks after but, of course we have to process the payments in the meantime.
So I closed my account as did many in that small bank (lines and lines for the tellers) and several people waiting to see the manager and I told them what was happening. Didnt take long that branch was closed.
All was verified as this bank hired high school kids to process payments only (not the deposits). A friend of my son who worked there warned me to watch out (as he saw my name on my checks) and he said they were ordered to do this.
This was before i-net banking so all you had to go on is your deposit slip.
Yes
Found this comment online:
"A widespread server outage at the Fed's clearinghouse system overnight resulted in some financial institutions not processing and posting their customers' direct deposits timely. The clearinghouse indicates their servers are back online and processing the backlog. We understand some financial institutions have indicated to customers that direct deposits will be posted throughout the day. Customer accounts remain secure, and balances will update once deposits are received. Check with your financial institution regarding specific timing or with other questions."
Great dig fren! Thx for the info. A little troublesome that an outage like this can happen seemingly at "shooters discretion"
https://www.zerohedge.com/markets/some-deposits-may-be-temporarily-delayed-downdetector-shows-service-disruptions-us-banks