Wells Fargo customers report missing deposits as bank deals with technical glitch

With millions of Americans using online banking and making electronic transactions, banks needs to remain vigilant about cyber-security and fraud. But when Wells Fargo customers complained about funds disappearing from their accounts in early August, it appeared to be a technical glitch rather than a security matter.

CNN reports that Wells Fargo has been "dealing with a technical matter" and that on August 3, a "torrent of customers contacted Wells Fargo via Twitter, now officially branded as 'X,' claiming they could not access money that they deposited into the bank."

"One person tweeted that he had been hit with an overdraft fee after money went missing from his account," according to CNN. "It was unclear how widespread the problem was Thursday night, but as of Friday, (August 4), customer complaints about the issue were still being posted on social media, and the bank continued to respond that it was working on a fix."

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A Wells Fargo spokesperson told CNN, "A limited number of customers were unable to see recent deposit transactions on their accounts. The vast majority have been resolved, and the few remaining issues will be resolved soon. We sincerely apologize for any inconvenience."

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CNN's full report is available at this link.