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Federal Reserve Bank outage impacts wire transfers, ACH transactions


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Federal Reserve Bank outage impacts wire transfers, ACH transactions

 

US-Federal-Reserve.jpg

 

The US Federal Reserve is suffering a massive IT systems outage preventing wire transfers, ACH transactions, and other services from operating.

 

When performing a US wire transfer or ACH withdrawal/deposit, the transaction first goes through the Federal Reserve Bank systems who facilitate the transaction.

 

Today, the Federal Reserve Bank is affected by an outage affecting numerous services that prevent wire transfers and ACH transactions from being completed.

 

outage-message.jpg

Outage message at the Federal Reserve Bank

 

This outage is affecting almost every electronic service offered by the Federal Reserve Bank, including Account Services, Central Bank, Check 21, Check Adjustments, FedACH, FedCash, FedLine Advantage, FedLine Command, FedLine Direct, FedLine Web, Fedwire Funds, Fedwire Securities, and National Settlement.

 

service-outage-list.jpg

Federal Reserve Bank services outage

 

Due to these outages, numerous cryptocurrency exchanges, such as Binance below, are reporting that they cannot perform ACH deposits or withdrawals.

 

The Federal Reserve is down and this will impact all ACH and wire related activities on Binance US. For service updates, you can follow their service status here: https://t.co/k14lSL6IO7

— Binance.US (@BinanceUS) February 24, 2021

 

BleepingComputer has contacted the Federal Reserve Bank with questions about the outage but has not heard back.

 

This story will be updated as more information becomes available.

 

 

Source: Federal Reserve Bank outage impacts wire transfers, ACH transactions

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