Direct Deposit Bank Glitch HALTS Paychecks
Well it’s almost Friday, the best day of the week until you read this: direct deposit bank glitch halts paychecks.
You immediately rush to your bank app to look at your bank account. You gasp, seeing that your every two week, paycheck is missing two weeks of your hard earned money. Your mind starts to race. Then you reach for your pile of stuff on your kitchen table to see what bills are due. How will the mortgage get paid? What about the two cars? As you begin to sweat you wonder now, who you call.
We are always been told to have six months emergency savings. Even if you do, having the system break down still can knock the wind out of you. We always expect the money to be there, the water to keep running, and the lights to come on.
This bank glitch is not a dream. It’s a nightmare that actually happened. On November 6 a national bank glitch halted the direct deposit for a “small percentage” of customers. That’s correct, no pay day for who knows how many. This actually happened to a Massachusetts friend of mine THIS week. Enough were affected to make national news.
What Bank Had The Direct Deposit Glitch?
According to AP News:
The Clearing House Payments Company 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.
Clearing House Payments promises to clear this up right away and get those people, like my friend, paid. They also promise to reimburse those who were charged late fees because of the glitch. Hopefully, if you were affected, you should see your money soon. My friend was told, it should be there the next day.