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Wells Fargo branch in Baltimore, Maryland

Regulation and Compliance > Cybersecurity

Wells Fargo Clients Report Missing Deposits as Bank Works on Fix

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Wells Fargo said it was working to resolve issues with its online banking services Friday after customers reported problems, including missing paychecks, on social media.

A message appearing on the bank’s mobile app and website midmorning Friday said: “If you’re experiencing an issue with our online services, we apologize for the inconvenience. We’re working quickly to resolve it.”

On Saturday morning, Twitter accounts purporting to belong to angry customers were still reporting missing money and complaining about the fallout from missing paychecks the day before. The Wells Fargo twitter account urged anyone with a complaint to document it with their full name and phone number in a direct message.

A Wells Fargo spokesperson provided the following statement to ThinkAdvisor: “Wells Fargo is aware that some customers’ direct deposit transactions are not showing on their accounts, however funds in accounts are accurate and available. We are working quickly on a resolution and apologize for the inconvenience. Customers’ accounts continue to be secure.”

One Twitter user, @Jabari_Live, tweeted that his direct deposit had disappeared from his Wells Fargo accounts, leaving him in the negative. Another, @_hasesuns, reported waking up to overdraft protection emails, adding, Wells Fargo ”better have a good explanation because I had a paycheck yesterday.”

The Downdetector site showed a surge in reports of problems with Wells Fargo, with more than 400 reports by 8:41 a.m. Dowdetector showed 253 reports at 1:26 p.m.

On Saturday morning, the site showed 71 reports at 8:58 a.m.

“This is likely the last straw for me with Wells Fargo,” one user, jo_jo, posted. “Not only was my payroll deposit taken back after being posted to my account on Thursday, but my account is also now overdrawn by $1,200. I have bills due and groceries to purchase. Going to spend the day bank shopping I guess.”

Another user, Terri Archer, reported being “broke on payday” and unable to buy breakfast.

Dane, a Downdetector user who wrote that he has been with Wells Fargo for years, posted that the bank has “been  good to work with, but would be better if they used email to inform us all. My accounts are ok.”

Pictured: Wells Fargo branch in Baltimore, Maryland.  (Photo: Diego M. Radzinschi/ALM)


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