Federal Reserve "Network Issues" Cause Nationwide Direct Deposit Outage 12-19-19
Federal Reserve "Network Issues" Cause Nationwide Direct Deposit Outage
by Tyler Durden
Thu, 12/19/2019 - 10:29
In recent years, banks and credit card processors had blamed hackers, blackouts, infrastructure inefficiencies, and of course the "Russians" for periodic service outages. As of today, they are now blaming the Fed itself.
Starting around 7am, there was a surge of outages reported at Capital One. ..
with DownDetector noting that while focused on the Northeast, the outages was nationwide.
What happened?
According to CapitalOne, network issues at the Federal Reserve were causing certain banking transactions to be delayed.
“We’re monitoring the situation closely in partnership w/ the Fed,” Capital One said in a tweet.
The Federal Reserve is experiencing network issues causing certain transactions to be delayed. We're monitoring the situation closely in partnership with the Fed. As soon as they've resolved the issue we'll work to make sure all transactions are posted as quickly as possible. ^AS
— Capital One (@AskCapitalOne) December 19, 2019
Capital One says it will make sure transactions are posted as soon as possible as soon as Fed issues are resolved.
During the day, customers on Twitter of Capital One and other banks have complained that their direct deposits have been delayed.
@AskCapitalOne any issues with direct deposit today?
— Magee (@DP_Magee) December 19, 2019
@AskCapitalOne Hey! My employees who have Capital one need the money we deposited in their accounts.
Is there anything we can print out as a company to assure them that they were paid and that we did our part? This is a lot.
— Jodie Abigail Landon (@FlockoJodie) December 19, 2019
@CapitalOne How do you not even notify your customers that issues such as Direct Deposit won’t be working?? I’m over here pissed because y’all can’t get your shit together.
— xavier (@xhogan10) December 19, 2019
@AskCapitalOne I need my money 💰 I have bills to pay.
— Pamela Richardson (@lifetrillionai1) December 19, 2019
Various other banks and credit unions were also experiencing the direct deposit outage.
Hi Joe, Please use Online or Mobile Banking to check the status of your direct deposit. We are experiencing a delay with electronic transactions and are working on getting transactions posted as soon as we receive them. Thank you!
— UFCU (@UFCU) December 19, 2019
Hi @BeccaSorenson. This is not the experience we want you to have. The Direct Deposit processing is delayed. You can check the app or the automated system for updates. We apologize for the delay.
— GREEN DOT BANK® (@GreenDotBank) December 19, 2019
Sorry for the confusion. Who is sending your direct deposit? If it is military pay, we have not yet updated the posting calendar with the new dates for the next year. ~CB
— Navy Federal (@NavyFederal) December 19, 2019
The Fed has yet to comment on the nature of the "network outage." Speculation that this is just a test of how the Fed plans to conduct Universal Basic Income by making direct deposits into each American's bank account remains just that.