re: Capital One

Apparently Direct Deposit has been down since 5 a.m. this morning. And someone just told me that if you are using Zelle for transfers you are shite out of luck. In fact the Zelle thing started about 630 700 last night which is when it started affecting the business checking accounts and then it migrated to personal accounts.

Almost sounds like a hack

Yeah the vendor got hacked. Supposedly all the deposits coming in were getting tagged as fraudulent, so the direct deposits were essentially being eaten up. There was a record of it, but no money. I'm checking my business account to see if their payroll was returned.....nope, not returned.

This will start to be a problem as people start waking up expecting their Direct Deposits and small businesses have to pay bills this morning. It will be a shitshow starting in a few hours. Surprised that this is not a bigger story.