The Blubber

Bank of America, $BAC, Chase and Wells Fargo, $WFC, customers have reportedly seen deposit delays after major glitch with payment processor, leaving some unable to get paid, per BBC.

Several major banking institutions, including Truist, Bank of America, Chase, US Bank, and Wells Fargo, encountered delays in processing direct deposits today.

These disruptions began at approximately 8 am ET and appear to have been resolved by 1:30 pm ET. Customers reported delays in the posting of their direct debit deposits and paychecks. Wells Fargo was the first to acknowledge the issue on social media and stated they were actively working on a resolution. Bank of America also acknowledged the problem in a message to its customers.

A Chase spokesperson explained, "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 banking institutions have not issued official statements at this time. Bank of America did not respond to a request for comment. Wells Fargo and Truist declined to comment on the matter and referred inquiries to The Mirror, which then referred to The Clearing House, the entity responsible for the delayed payments.

The Clearing House released a statement, saying, "The Clearing House (TCH) has experienced an ACH processing issue that impacts less than 1% of the daily ACH volume in the United States. TCH is working with the financial institutions whose customers have been affected."

The Clearing House is owned by major financial institutions, including JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Co.

Wells Fargo addressed the problem on social media. In response to a customer's complaint, a Wells Fargo representative stated, "I noticed your tweet. We are aware of the issue and are working on a resolution. We apologize for the inconvenience. At this time, there's no need to file a claim. -Ian."

In an update at 12:44 pm ET, the Federal Reserve Bank Services reported that "All Federal Reserve Financial Services were operating normally."