“Multiple US banks were hit by deposit delays on Friday caused by an error at a payment processing network, according to the Federal Reserve.
Banks stressed that customer deposits remain safe, and the bug was introduced by human error and not a malicious attack. Although the rare deposit delay affected deposits at a large number of banks, it appeared that other banking systems were functioning normally…
The ACH system allows banks to send electronic payments to each other. Everything from direct deposit paychecks to customer bill payments for mortgages and utility bills flow through this system.”