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Wells Fargo experience Smoke & technical issue not security breach that some Paychecks Not Appearing in Accounts

wells fargo paycheck not appearing in accounts

Wells Fargo Fixes Outage Issues that causes Paychecks Not Appearing in Some Accounts

Cybersecurity and data theft are the first concerns among investors when one hears of system outages and downtimes. A similar incident last week, caused Wells Fargo to go full throttle on image management. On February 7, 2019, many customers using the bank’s website and mobile app to log in to their accounts found the following message being displayed –

This creates high call volumes to Wells Fargo call centers and people queuing up to enquire about their credits. Wells Fargo had to quickly get on social media to address the issue apologizing for the outage and the issues faced by its customers. They requested customers to keep patience and understanding while they investigated the issue of intermittent outages. Later the bank came out with the response that smoke at one of its data centers at Shoreview, Minn. caused this outage and was brought under control. Many users and customers got on to Twitter to call out to the bank on their poor service and issues faced by customers on a wide basis.

Issue of Missing Payments

The public went into a tizzy when direct deposits and salary payments were not credited to their Wells Fargo accounts. To add to the fire, the helpline numbers could not be reached due to high call volumes, thus leading to a meltdown on social media. The public complaining on reaching out to customer care was addressed by Tim Sloan, the bank’s CEO and president, who admitted in a statement that the recovery “was not as rapid as we or our customers would have expected.”  He expected to do a thorough review of the issue once the power and services were restored.

wells fargo paycheck not appearing in accounts

The bank went into overdrive to explain that there was no “security breach” but only a system outage due to smoke and technical issues. It explained on Twitter that “power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance.” They elaborated that it was a contained problem and by Thursday night, 7 February, 2019, it assured the customers that the power outage had been restored and ATM, website, app and other services were restored. Customers could not login and view their correct statements and deposits.

This is not the first time that Wells Fargo had to do damage management. On February 1, 2019, as well, customers had complained on an outage of a few hours when they had trouble accessing their accounts via website and app.

Wells Fargo update on missing paychecks in accounts

This brings to the fore larger questions to be addressed by financial institutions which custodians of public money are. How easily can such system issues cause a failure for money transactions to reflect incorrectly? And how easy or difficult is it for anyone with malafide intention to take advantage of this and try tracking into the banks’’ systems? These and many more issues on data and transaction security need to be addressed by this industry.

About the author

Harish

Harish

Harish is a regular reader of multiple newspapers and magazines. And make you updated from the information about the United States and other countries.

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