Banks

Federal Reserve bank glitch delayed direct deposits to bank accounts

Key Points
  • A glitch at the Federal Reserve delayed direct deposits and other financial transactions at banks across the U.S.
  • Federal Reserve Bank Services said its automated clearing house network began "experiencing a disruption on December 18 at 3:30 pm ET."
  • The Fed added in its statement that technicians have resolved the issue, but apologized to banks.
A Bank of America customer uses a bank card
Kelsey Kaspar | Bloomberg | Getty Images

A glitch at the Federal Reserve on Thursday delayed direct deposits and other financial transactions at banks across the U.S.

A statement from Federal Reserve Bank Services said its automated clearing house network began "experiencing a disruption on December 18 at 3:30 pm ET." Banks use the ACH network to transfer money to each other for internet bill payments and direct deposits.

The Fed added in its statement that technicians have resolved the issue, but apologized to banks for the "inconvenience and disruption this has caused to your operations." The central bank said payment files for Dec. 18 have been completed, though some transaction reports will be delayed.

The Fed did not comment on the cause of the temporary glitch.