Please try another search
Today, an Automated Clearing House (ACH) issue led to deposit delays across several major banks, including Bank of America, Chase, US Bank, Truist, and Wells Fargo. The problem initially emerged on Friday morning when Bank of America alerted its customers of potential delays, citing an industry-wide concern rather than a bank-specific problem.
The issue disrupted direct deposits commonly used for paychecks, causing inconvenience on payday Friday. This incident mirrors a similar one that occurred in January, where problems with Zelle transfers resulted in overdraft fees, lost money, and negative account balances for Bank of America's online customers.
In response to the current situation, Bank of America has been advising private communication for account security. The bank also assured its customers that their accounts were secure and that balance updates would be provided as soon as deposits were received. They stressed that customers did not need to take any action at this time.
The problem was first reported via Downdetector and was confirmed by an industry source who clarified that it wasn't a bank-specific issue but an industry-wide concern. Despite the severity of the situation, there have been no immediate comments from either the Federal Reserve or the US Treasury Department. All impacted banks have also maintained silence on the matter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.