CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

Wells Fargo tries to restore system afer two day outage

Wells Fargo is trying to placate angry customers after a computer glitch leaves them without service.

Wells Fargo is struggling to get back to normal service after a two day outage is angering customers. The financial institution is trying to help clients access their funds. The bank’s stock is plummeting as a result.

Why didn't Wells Fargo customers get service?

Wells Fargo blames the outage on a shutdown at a data center in the US state of Minnesota. Clients have complained about not having access to their accounts and having long wait times for customer service. The bank tried to restore customers’ access to their accounts and claim that the issue has been resolved.

'As a result of the process to restore systems yesterday, some transactions and balances were not visible in online banking or ATMs. The transactions were processed normally, and customers can use their accounts with confidence. This issue has now been corrected, and all transactions are now visible,’ said Wells Fargo in a statement.

Even Wells Fargo employees haven’t been able to deposit their paychecks into their accounts because of the computer glitch. The bank promised to help the workers get their full wages.

‘Some team members were not able to see the payroll deposits in their online banking accounts for a short period of time. Wells Fargo payroll was processed normally. This issue has now been corrected,’ noted Wells Fargo.

How will Wells Fargo help customers?

Wells Fargo has pledged to reverse any fees customers incur as a result of the outage.

‘We apologise for the inconvenience caused by these system issues, and we want our customers to know that any Wells Fargo fees incurred as a result of these issues will be reversed,'said the bank.

Wells Fargo has already had to repay customers for overcharging customers bogus fees. Many disgruntled clients are expressing their displeasure on social media and threatened to take their business to another bank. The financial institution has to work very hard to regain customers’ trust after this latest fiasco.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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