Customers are left frustrated as the World’s 2nd-largest bank by market capitalization and the 4th largest bank in the United States by total assets, Wells Fargo suffered an outage Thursday. Headquartered in San Francisco, smoke at one of the bank’s data centers left its customers without access to mobile or online banking and accessing cash from ATMs.
The problem was discovered during routine maintenance by the workers. On its website, the official update read,
“We’re experiencing system issues due to a power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance. We’re working to restore services as soon as possible. We apologize for the inconvenience.”
“We apologize to our customers. Online and mobile banking, ATMs and most other services are now available,” reads the latest update.
The bank has restored the ATM services and mobile and online banking systems are operational with a few exceptions viz. “consumer credit card and mortgage balances, that we are in the process of restoring.” Credit and debit cards are up for purchases and its bank branches are operational along with contact center systems but “customers may experience longer than usual delays contacting Wells Fargo’s Phone Bank.”
Customer are Frustrated, Asking for Inconvenience Fee
Reportedly, the incident happened at a data center in Shoreview, Minnesota but Wells Fargo hasn’t commented on the location of the data center. It is yet unknown how many of the bank’s customers were affected but Twitter complaints have been registered nationwide.
Customers are now asking for “inconvenience fee,” as one customer Tweeted, “Wells Fargo is responsible for this and they should cover any late fees generated by their failure,” among others.
The bank has been fined over a billion dollar for its failures in customer services as over the last few years, Wells Fargo has got involved in a number of issues such as scandals over sales practices, putting homes into foreclosure among others.
Well, it got the crypto community sharing why people need to long on Bitcoin and short on Banks as Matt Odell took to Twitter to share,
In the past, Bitcoin proponent, Max Keiser had declared, “Wells Fargo is the syphilis of Wall Street and Bitcoin is penicillin.”
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.