EDITOR NOTE: Imagine logging in to your mobile banking app to see a large chunk of your balance gone. You can’t receive online or phone support, and then the complaints, rumors, and (even worse) misinformation begin to show up in various social media spaces. That’s what at least 53 million JPMorgan Chase bank depositors might have faced overnight, Whether it was a tech glitch, human error, or deliberate cyber attack, the fact remains that what’s on screen is the existential “reality” of your balance. Unlike physical cash, gold, or silver, in digital banking, your screen is the only tangible proof you have that your money exists. Are you really willing to give up tangibility and access for tech-driven convenience and vulnerability?
Chase Bank acknowledged reports of some customers seeing incorrect balances in their checking accounts and said the problem has now been resolved.
The biggest U.S. bank by consolidated asset blamed a "technical issue" for what it called "delayed updates."
"We know some customers reporting seeing incorrect balances in their checking account overnight," Chase tweeted Sunday. "This was caused by a technical issue that delayed updates on what displayed on Chase Mobile & Chase Online."
"We resolved this issue as of 9AM ET and accounts now show current balances," Chase said.
Originally posted on Fox Business