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BofA, JPMorgan Experience Industry-wide Deposit Delays

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Bank of America's mobile app flashed a message Friday that said customers could be facing temporary delays in depositing funds into their accounts after a technical glitch impacted multiple financial institutions.

The issue could be stemming from The Clearing House , a core payments system infrastructure owned by some of the largest commercial banks in the world.

"TCH has experienced a processing issue with a single Automated Clearing House file. TCH is working with impacted financial institutions on the matter," a spokesperson for the association said in an emailed statement to Reuters. Besides BofA, the issue was also impacting apps of JPMorgan Chase, Truist Financial and U.S. Bancorp , according to outage tracking website Downdetector.com.

 

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