Major U.S. Banks, Including Bank of America and Chase, Face Delays in Processing Direct Deposits Due to ACH Issue

CollectionsMoney Matters
Written By Jennifer Joslyn

Bank of America and several other major U.S. banks, including Chase, U.S. Bank, Truist, and Wells Fargo, have experienced issues with processing direct deposits, causing delays for customers. The problem appears to be related to the Automated Clearing House (ACH), a network used for transaction processing that affects multiple financial institutions. The banks have reassured customers that their accounts remain secure and balances will be updated once the deposits are received.

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