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Yo_Mama_Been_Loggin

(107,766 posts) Sun Mar 14, 2021, 02:10 PM Mar 2021

Wells Fargo, Chase not processing stimulus payments until Wednesday, sparking criticism [View all]

Source: The Hill

Banking giants Wells Fargo and Chase said that they will not process recently issued $1400 stimulus payments until Wednesday, causing of outcry from their customers.

HuffPost notes that the banks said in individual statements last week that they will not be processing and releasing the payments until March 17.

"We expect most of the electronic payments to be available as soon as Wednesday, March 17, 2021," Chase said on its website

"Wells Fargo will process all of the direct deposits according to the effective date provided by the U.S. Treasury," Wells Fargo said.

Read more: https://www.msn.com/en-us/news/politics/wells-fargo-chase-not-processing-stimulus-payments-until-wednesday-sparking-criticism/ar-BB1ezLBj?li=BBnb7Kz

So it looks like I'm going to have to wait till Wednesday.

67 replies

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Wells Fargo, Chase not processing stimulus payments until Wednesday, sparking criticism [View all] Yo_Mama_Been_Loggin Mar 2021 OP

Why oh why? machoneman Mar 2021 #1

If they hold the money, that's a lot of interest they can earn. It's pretty sleazy. catbyte Mar 2021 #4

'float' in banking parlance. Yes thats millions of 'float. empedocles Mar 2021 #7

Exactly. milestogo Mar 2021 #10

☝️☝️☝️☝️ As in millions!! PortTack Mar 2021 #28

How Would That Work? ProfessorGAC Mar 2021 #39

IT Infrastructure is a big reason. Tommymac Mar 2021 #46

Completely Agree ProfessorGAC Mar 2021 #49

I loathe Wells Fargo...but EVERY Big bank is waiting for Wed afaik. Tommymac Mar 2021 #50

Which Was My Point ProfessorGAC Mar 2021 #58

I work IT for a bank TxGuitar Mar 2021 #66

I have worked for Big Banks in the past. Tommymac Mar 2021 #67

My guess is that probably DENVERPOPS Mar 2021 #54

Agreed & Agreed ProfessorGAC Mar 2021 #57

They have to get their cut even though none of the money is supposed to be going to them. catbyte Mar 2021 #2

That much $$$$ in the bank for days. LakeArenal Mar 2021 #3

Scum SheltieLover Mar 2021 #5

See Post #39 ProfessorGAC Mar 2021 #40

So is Wells Fargo saying the checks are dated March 17? . .. Journeyman Mar 2021 #6

Because the treasury doesn't have the money? James48 Mar 2021 #8

easy Grasswire2 Mar 2021 #19

I still haven't gotten the $600. Chipper Chat Mar 2021 #9

that's terrible! was it supposed to be direct deposit? orleans Mar 2021 #37

I didn't get either of the first two. I had to wait Jerryatric Mar 2021 #44

i got the first one. pretty late. didnt show on get my payment till right before i got it. bullimiami Mar 2021 #65

Typical Wells Fargo bullshit. We stopped banking with them years ago. Martin68 Mar 2021 #11

We did as well -- they are a banking criminal enterprise. LuckyLib Mar 2021 #35

Same with First Financial Bank in SW Ohio JesterCS Mar 2021 #12

My stimulus payment was deposited into my Credit Union account on Friday & immediately available. scarletwoman Mar 2021 #13

Exactly. 1PM Friday. Nt jaysunb Mar 2021 #22

Our CU Is The Opposite ProfessorGAC Mar 2021 #41

Navy federal is doing the same jimfields33 Mar 2021 #14

I logged in yesterday and it shows as a pending transaction to be deposited on Wednesday. SCRUBDASHRUB Mar 2021 #15

Gramm-Leach-Bliley Act in action amongst others in the 90's. Thanx Willy n/t Cheezoholic Mar 2021 #16

Sounds pretty scammy to me -- why should they hold the payments? Lettuce Be Mar 2021 #17

See post #46 above. Tommymac Mar 2021 #47

More info about why it won't be officially deposited until Wednesday. SCRUBDASHRUB Mar 2021 #18

+1. The official payment date is March 17. dalton99a Mar 2021 #20

my credit union is doing the same thing dsc Mar 2021 #21

This must be the date the IRS is officially issuing them Blasphemer Mar 2021 #23

Huntington is waiting till Wednesday, too. luvs2sing Mar 2021 #24

So how many BILLIONS have Chase and Fargo paid in fines to regulators in the last 30 years? marble falls Mar 2021 #25

Some other big money stories, besides profit Tetrachloride Mar 2021 #26

Another source: SCRUBDASHRUB Mar 2021 #27

If the official date is the 17th then the IRS won't release funds until then jgmiller Mar 2021 #29

I'm no Wells Fargo fan, but my Credit Union is doing the same thing. sarcasmo Mar 2021 #30

I will gladly pay you TUESDAY James48 Mar 2021 #31

As soon as I find the money in my account. Bird Lady Mar 2021 #32

not only can they collect interest on the money but if their customers are tight on money ... Botany Mar 2021 #33

Maybe not so nefarious. See post #46 above. Tommymac Mar 2021 #48

That's when my CU is processing mine. ananda Mar 2021 #34

Wells Fargo is such a cheap ass banking corporation. Baitball Blogger Mar 2021 #36

It's Not Just The Big Banks ProfessorGAC Mar 2021 #38

They're probably going to trade some Gamestop stock for a few days before we get our stimulus Dopers_Greed Mar 2021 #42

My bank America acct: also will hit wednesday Cicada Mar 2021 #43

I have Chase. Went to IRS Get My Payment site LiberalFighter Mar 2021 #45

Wonder how much interest they'll make waiting till Wednesday? ... aggiesal Mar 2021 #51

we have a winner here ! people wait & they profit !!! monkeyman1 Mar 2021 #52

About half a penny per $1400 FBaggins Mar 2021 #53

Hardly anything as they don't have the money. Kaleva Mar 2021 #55

I don't believe that at all ... aggiesal Mar 2021 #60

Funny, all my fees never get delayed one second Withywindle Mar 2021 #56

Wells Fargo MosheFeingold Mar 2021 #59

As with most everyone else. msfiddlestix Mar 2021 #61

Holy Kee-rist, waiting since Jan and now 2 DAYS is sparking an outrage? give me a break Shanti Shanti Shanti Mar 2021 #62

mine showed up as pending this weekend for 3/17. actually cleared today. credit union. bullimiami Mar 2021 #63

Same with BOA. TxGuitar Mar 2021 #64