Customers scramble after deposits disappear from Wells Fargo accounts
www.nbcnews.com
For the second time this year, Wells Fargo has acknowledged that direct deposits were not showing up in customers’ accounts.
  •  AutoTL;DR   ( @autotldr@lemmings.world ) BEnglish
    20•1 year ago

    This is the best summary I could come up with:

    “Entirely panicked,” Matherly said, she raced to a local Tom Thumb convenience store to get a money order, and ended up having to borrow $500 from a friend to get the funds necessary to secure her new keys.

    This week’s incident mirrored one encountered by Wells Fargo customers in March, which the company then blamed on an unspecified “technical issue.”

    The outage comes as NBC News reports phony bank accounts have resurfaced at Wells Fargo.

    Jeani Cortez, a single, disabled, self-employed accountant and Alaska resident, says she was supposed to have paid her rent, gas, electric and internet payments for the month by now with funds she deposited Wednesday.

    For Brent Morrison, a Texas resident and father of two, the Thursday outage was doubly painful: He was laid off less than two weeks ago.

    While the funds — approximately $2,000 — ultimately did appear in his account, Morrison said he’d also been affected by the March outage, so he is now looking to move his money to a local bank, he said.

    I’m a bot and I’m open source!

  •  CodeBlooded   ( @CodeBlooded@programming.dev ) 
    11•1 year ago

    I’m willing to bet a team of untrained, uneducated, software/data engineers receiving big salaries are responsible for this.

    It’s my understanding that big brand banks live on top of brittle, low quality, poorly tested code- and that’s if they’re not straight up using excel to run production processes.

      •  CodeBlooded   ( @CodeBlooded@programming.dev ) 
        2•1 year ago

        While they do rely on COBOL and old mainframes a great deal, that isn’t the only software supporting the company and its operations. That fact doesn’t negate what I’m speculating would be the cause.

        These big banks have multiple programming teams that use different programming languages and work on different products.

        If you go to their careers page, you will find tons of Java, .NET, and Python jobs posted. I’ve never seen a COBOL posting at a big bank (which doesn’t mean it’s never happened, but I can see any of these more modern languages posted any given day).

  •  experbia   ( @experbia@kbin.social ) 
    8•1 year ago

    Wells Fargo are simply criminal, it has been demonstrated again and again. It would not surprise me in the slightest if I were to learn that this was an intentional test to see how many people would notice a missing deposit or two and gauge how often they can simply swipe some deposits “accidentally”.