February 1, 2023

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Bank of America customers have reported money “disappearing” from accounts after Zelle was released

Bank of America customers Social media lit up on Wednesday with complaints of Zelle transactions not being processed and money missing from their accounts.

“I almost lost my mind when I saw $2,000 missing from my account,” one customer posted on Twitter Wednesday morning.

Another customer tweeted that Bank of America had “magically disappeared a large Zelle transaction that was already posted.”

American bank He acknowledged there was a problem processing Zelle transactions, but said it was resolved later on Wednesday.

“We had an issue where there was a delay in publishing Zelle transactions. It was resolved earlier today, so that all transactions show up in people’s accounts,” Bill Haldane, a Bank of America spokesperson, told FOX Business.

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A customer uses an automated teller machine at a Bank of America branch in Boston, Massachusetts, United States (Reuters/Brian Snyder/file photo/Reuters Images)

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Zelle, a peer-to-peer payment processor available from over 1,700 financial institutionssaid that “the issue was not the result of any problems with the Zelle network”.

“We understand that the Zelle Network financial institution may have had issues processing certain Zelle transactions for its customers, which have now been resolved,” a Zelle spokesperson told FOX Business.

Zelle logo app for smartphones

In this April 21, 2022, pictorial illustration, a woman holds a smartphone with the Zelle logo onscreen. (Rafael Henrique/SOPA Images/LightRocket via Getty Images/Getty Images)

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Sen. Elizabeth Warren, D-Mass.The member of the Senate Committee on Banking, Housing, and Urban Affairs slammed Bank of America and Zell on Wednesday, saying they “seem to be failing their customers again.”

“This should be fixed immediately and customers should be compensated,” Warren wrote on Twitter. “I’ve had serious fraud cases on Zelle and this is their latest failure.”

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