Marcus Erikson|A processing glitch has held up a ‘small percentage’ of bank deposits since Thursday, overseer says

2025-04-30 04:22:55source:Indexbitcategory:Scams

SAN FRANCISCO (AP) — A processing glitch in the network that processes electronic transfers between nearly all U.S. bank accounts led to delays in settling deposits,Marcus Erikson some of which remain stalled, according to the private company that operates the system.

The Clearing House Payments Co. said Monday that a technical error on Thursday resulted in some payment information sent to banks with account numbers and customer names masked, preventing them from being processed immediately. TCH, as the company is known, is owned by a group of 22 major banks, including Citibank, Wells Fargo, Bank of America and J.P. Morgan Chase.

Many customers have complained about the problem on social media, noting that delayed paycheck deposits have imperiled important automatic payments such as mortgage payments, rent and credit-card bills.

TCH apologized for the error and emphasized that individual banks were not responsible for the situation. It also noted that the issue affected only a “very small percentage” of all transactions.

It said it was working with the banks, their customers and the Federal Reserve to fix the problem as quickly as possible.

More:Scams

Recommend

Elon Musk wants to turn SpaceX’s Starbase site into a Texas city

McALLEN, Texas (AP) — SpaceXis launching a new mission: making its Starbase site a new Texas city. B

Secura issues recall on air fryers after reports of products catching fire

If you own a Secura air fryer, then your air fryer may or may not catch on fire. The United States C

Historic landmarks eyed for demolition get boost from Hollywood A-listers

The historic West-Park Presbyterian Church, located on Manhattan's Upper West Side, is in need of te