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Wells Fargo Promises Reimbursement After Another Glitch

After a day that saw many customers being unable to access their accounts or swipe their cards due to a system glitch, Wells Fargo said that it was working to restore the systems as soon as possible and promised to reverse any fees that were caused due to this issue. "We want our customers to know that any Wells Fargo fees incurred as a result of these issues will be reversed," the bank said in a statement shared with DS News.

The system issue began in the early hours of Thursday with customers being unable to access their accounts online or through its mobile app or swipe their Wells Fargo debit or credit cards. The reason? On its Twitter feed, the bank said that this was due to a power shutdown at one of its facilities, initiated after smoke was detected following routine maintenance. "We're working to restore services as soon as possible. We apologize for the inconvenience," the bank said.

From being unable to pay their rent, to not being able to access their account to transfer money that they were putting down on their home, the systems error led to Wells Fargo customers taking to social media to air their grievances.

This is the second time in the month that the bank has experienced a systems issue that has led to customers being unable to access their accounts or cards. On Thursday, customers attempting to visit its website saw a message saying that the online platform was experiencing technical difficulties, while those attempting to swipe their cards were given an error message.

Last year, Wells Fargo had reported that hundreds of customers were impacted due to a software error that had incorrectly denied a loan modification or repayment plan in cases where they would have otherwise qualified. Additionally, the bank had reported that in approximately 545 of these instances after the loan modification was denied or the customer was deemed ineligible to be offered a loan modification or repayment plan, a foreclosure was completed.

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. She can be reached at Radhika.Ojha@DSNews.com.
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