THINGS SLOWED DOWN DUE TO FEDERAL CRASH

This topic has 1 reply, 1 voice, and was last updated 3 years ago by Nurseynursenurse444.

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February 25, 2021 at 10:11 am #4460101
BoniGore
The automated clearing house (ACH) system is used for paychecks, bill payments, and other small and medium-sized transactions across the economy. The Check 21 system is used for clearing paper checks. It takes one to two days for these transactions to clear.

The Fedwire system is used to instantly wire large sums of money from one bank to another. The system moves more than $3 trillion on an average day.

All of these systems and a few others were down for more than an hour on Wednesday afternoon.

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By 3:30pm on Wednesday, most of these systems were back in service, but the Fed warned banks that it would need time to work a backlog of transactions through its system. The Fed urged banks to double-check that any transactions they submitted in recent hours had actually gone through

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- February 25, 2021 at 11:25 am #4460157
  Nurseynursenurse444
  I think that’s the hold up as well for a lot of folks….guess I’ll be purchasing more Bitcoin appear to be a digital reset coming maybe yesterday was a test run maybe
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