Bank of America alerted customers on Friday that their deposits may be delayed due to a problem impacting multiple banks.
Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo have complained of issues on Friday morning, according to Downdetector.
An industry source tells CNN that the issue appears to be related to the Automated Clearing House (ACH), which is a network for processing transactions. The source said the problem does not appear to be a bank-specific issue.
In a message to customers on Friday, Bank of America said “some deposits may be temporarily delayed.”
The message said the deposits from Friday may be delayed due to an “issue impacting multiple financial institutions.”
“Your accounts remain secure, and your balance will be updated as soon as the deposit is received,” the Bank of America message read. “You do not need to take any action.”
Neither the Federal Reserve nor the US Treasury Department were immediately available to comment.
None of the banks provided a comment.
