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

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

Banks reported a delay in the posting of direct deposits on Friday, November 3(Omar Marques/SOPA Images/REX/Shutterstock)

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.

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