What happened with Bank of America

Bank of America customers reportedly saw money disappear from their accounts after making payments through the Zelle transfer service, sparking an online meme fest.

On January 18, DownDetector, a site that tracks the status of other websites, noted that “user reports indicate problems at Bank of America.” The first complaint was reported at 1:42 a.m. Wednesday, and overall, 66 percent of the complaints indicated there were issues with “funds transfer.”

The reports peaked at 8:43 p.m. m. on the same day, and the website logged 1,303 complaints against Bank of America.

However, according to the Charlotte Observer, when customers logged into their online bank accounts, they received a notice that their transactions were not delayed but missing.

“Zelle transactions made between January 14 and 17 may be delayed to occur and post to accounts as requested. Transfers will be completed and will appear in your account activity and balances as soon as possible.”

Twitter Reactions on the Bank of America Failure

After Bank of America customers saw their money disappear from their accounts, they took to Twitter. Several users shared a scene from The Simpsons where customers can be seen yelling at bank employees for money while trying to get off topic.

Others simply scoffed that the amounts in their own bank accounts were so low that the bank and Zelle skipped their names in the ruling.

Bank of America displayed a warning sign for its customers

According to ABC13, Bank of America has addressed the missing funds situation and posted a warning note on its app.

Please note: Zelle transactions made between January 14 and January 17 may take a while to occur and post to accounts as requested. Transfers will complete and appear in your account activity and balances as soon as possible. possible. We apologize for any delay or inconvenience.”

Zelle allows customers of participating US banks to send money directly to each other without the need for intermediary institutions. As an alternative to credit card transactions, which can take a few days to reach user accounts and often require fees and bank transfers, Zelle transfers are popular due to their speed and free nature.

According to TIME, the bank told the publication that the issue was resolved and customers got their money back.

This is not the first time the bank has been taken down due to a technical problem. In 2020, certain customers’ bank accounts showed balances as low as $0. At the time, the company stated that the flaw did not affect customers’ real money.

“Some customers may currently see an inaccurate account balance in online or mobile banking. There is no impact on your accounts and your information remains secure.

As for Zelle, the service doesn’t offer any security for payments made through its app, which means there’s no way to turn things around if they go wrong.