Wells Fargo works overtime to fix systems outage

Wells Fargo works overtime to fix systems outage

US bank Wells Fargo says it has fixed a "computer problem" that began on Sunday afternoon and disabled ATMs and prevented customers from accessing online accounts.

The systems failure left many customers unable to withdraw cash or use debit cards to pay for goods. The outage also affected mortgage processing, home equity, student loans, ACH, wire transfers and remittances.

Avid Modjtabai, head of technology and information group, Wells Fargo, says all systems are now up and running, although overnight processing has not been completed and customers may see end of day Friday balances until later on Tuesday.

Says Modjtabai: "Using our back-up facilities, we restored Internet banking service in about one hour and 40 minutes Sunday August 19, and within hours, customers could access Wells Fargo phone bank centres and make basic ATM transactions, such as withdrawing cash and making deposits at our ATMs but not at non-Wells Fargo ATMs."

Modjtabai insists that all customer account data remained safe and secure throughout the disruption.

The bank did not disclose the precise cause of the disruptions.

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