Is this the beginning of the end? I notice there’s a credit union on the list. I’m glad I made my large cash withdrawal last week on a hunch. Must remember to keep the gas tank filled, too.
They’re calling it an “update” and an “upgrade” but is that a positive spin the banks are putting on something negative, or a good indication that the “new” banking system is about to go live?
Reblogged from All About 2012. Thanks, 29501.
There is an update process going on with many major banks and credit unions over the weekend, including Chase, Wells Fargo, First United Bank, CITIGROUP INC, BANCWEST CORPORATION, DEUTSCHE BANK TRUST CORPORATION, BDCU, BECU, Columbia Bank, Concord Bank, Five Point Credit Union, Kemba Credit Union, and many others.
This seems to be an industry wide update and many services will be unavailable or limited. Each bank is a little different, but they are limiting access to accounts, funds, mobile banking, even allowable purchase amounts on debit and credit cards.
Below you’ll find more detailed information from Chase, Columbia Banks and others to give you an idea of what is going on.
This statement is from Columbia Bank:
From May 3 through May 6, the entire Online Banking service at The Columbia Bank is being redesigned to give you greater access to your financial information and better financial control.
Before May 3, 2013:
Complete any of your online transfers, one-time bill payments or stop payment orders.
Friday, May 3, 2013:
After 4AM EDT, Mobile Banking will be unavailable.
At 5PM EDT: All branch offices will close to prepare for the upgrade.
At 7:30PM EDT: Bank by Phone PIN number changes, transfer of funds and stop payment options will be unavailable.
Saturday, May 4, 2013 through Sunday, May 5, 2013
Our Online Banking upgrade will begin. Online Banking transfers, bill payments and stop payments will be unavailable. Mobile Banking will be unavailable.
This is the statement from Chase Bank:
Our branches offering Sunday hours will be open as planned but will have limited access to information and services.
Account Balance: Your balance won’t be updated between 11:30 p.m. Saturday and 2 p.m. Sunday on Chase Online, Chase Mobile, or at an ATM, branch or via telephone banking.
Chase Debit Cards: Your debit card will continue to work, but there may be lower approval limits on purchases.
Chase QuickPaySM, Online Bill Payments, Wires & Account Transfers: Certain functions may not be available but you can schedule future transactions.
Chase Mobile App: You can view your accounts but won’t be able to perform transactions.
Account Alerts: Your Account Alerts may be delayed.
Ultimate Rewards: Rewards information won’t be available. (?)