Cadence Bank is having um, system issues, the kind of system issues that won't allow it to accept deposits. The problem began Wednesday. Cadence sent this email to bank customers Thursday:
One of our key vendors was affected by a major outage late yesterday, January 15. This outage has impacted several of our systems and those of many other financial institutions. Because of that, certain functionalities within our applications are temporarily unavailable. This outage is technical in nature and does not pose any account security issues or concerns. Please rest assured we are actively communicating with our vendor as they work to resolve the issue and enable us to restore access. Important information you need to know Currently, customers can access Online and Mobile Banking, but account information may not be up to date. If you need to make a deposit, please visit a Cadence Bank branch, ATM or use mobile deposit through the Cadence Bank Mobile Banking App. Visit a Cadence Bank branch if you need to make a loan payment. Our ATMs can also accept deposits, and we will process them under our normal funds availability. Additionally, checks may be deposited using Mobile Deposit. You should be able to use your debit card and get cash using our ATMs; however, some transactions may not be authorized against current balances. We are working as quickly as possible to ensure all eligible debit card transactions can be authorized. We apologize for any inconvenience you may experience due to this outage and will assist you in remediating any issues as quickly as possible. Thank you for your business and for choosing Cadence Bank. If you have any questions or concerns, please do not hesitate to contact us at 888-797-7711 or find a branch near you.
One customer told this correspondent he had not been able to deposit two checks this week. Another customer said he could not get his account balance while physically at the bank. While the bank can't accept deposits, automatic drafts are apparently working just fine, meaning there will be some people who get charged bank fees after overdrafting their accounts. Social media is awash in complaints:
Cadence bank going to reverse these overdraft fees that people incur because they haven’t been able to post deposits for the past 2 days? Deposits don’t work but the withdrawals from autopay ain’t missed a lick. This cadence bank mess is genuinely one of the most bizarre situations I’ve ever heard of. I’m glad we don’t need anything major to survive🙃 but we sure do have bills due and that money STILL is not there as of this morning.. I’m at my wits’ end! Where is my money from my check yesterday? This vendor outage has caused me so much mental and financial distress, I’m starting to wonder if I need to call a lawyer. I need to buy groceries, and I have automatic drafts for bills! If I get $0.01 in overdraft fees for anything, I’m going to clown so bad on y’all. Dear Cadence Bank - please, give me my money!! 🙃 Thanks to this vendor issue, I owe unnecessary late fees on bills that were due and couldn’t be paid. The system has been down for DAYS now and has left us with no access to any of our money or the funds that were suppose to be deposited Friday morning and still hasn’t been. (The bank also told everyone online that it would be fixed by Friday morning and still hasn’t been.🥲) Things are hard enough as is, and now I have lost more money bc of the issues the bank is having with a vendor. 😕 I’ve banked with them for a few years and we’ve had problems similar to this before. This is the first account I’ve ever had with a bank, so idk if they’re all like this 🤣 but I’m over it. Whether it’s their fault or not, it’s simply not worth the stress. Cadence Bank has been down since Wednesday. No one is receiving their deposits, accounts aren’t showing the correct balance. Yesterday evening they basically said it’s a 3 day weekend we’ll figure it out Tuesday!! My husband works three jobs and not ONE of his paychecks are anywhere to be found. How do I evsjn this to children that have no groceries in the house CADENCE BANK?? if you use Cadence Bank and you were unaware, don’t think for a second you can try to pull your money out today because it’s not there. They don’t have access to our money. The people working at the bank told me they can’t even access their money their paychecks and my paycheck never came through and they don’t even have a record of it supposed to come through, what is going on like y’all need to get it in here and do something man cause this is turning into a load of crap Now Cadence bank get your stuff together now had my card declined in that store and my cash app if I have a late charge it should be on yall cause most my stuff on auto pay Cadence bank you better hope and pray you don’t take out of my account for overdrafts since this is YOUR issue! 😡 checked my account with the hopes that my check would be in there but to my surprise my account is now in the negative! I haven’t even used it the last few days bc of all of the issues!!!!!!
Our teams continue to work around the clock this weekend to resolve the ongoing issues caused by a vendor outage. We understand and apologize for the issues this outage has created, and we are committed to resolving this issue to bring customer account balances up to date. Rest assured, we will refund any fees incorrectly assessed on accounts impacted by this outage.
Kingfish note: Karma for dropping the Bancorp South name.
The employees aren't going to work Monday? Nice. Just nice.
13 comments:
Why I do 80% of my business through a primary bank and the other 20% via a secondary institution. Have one week of operating reserves on deposit with the secondary. An example of why every single person in this country should fight any and all efforts to force the United States into a cashless economy.
I don't care I made $150,000 overnight by converting some of my Etherium to Trump's new Crypto Coin last night before I went to sleep. I thought I was going to have a heart attack. 4Chan was right again!
Can't make a deposit? No worries, as I am authorized to accept all deposits for Cadence Bank. Just leave them under my door mat. Trust me. Right?
TO THE GENIUS at 11;14..........no, you heart attack is gonna come when the IRS gets ahold of you post and comes calling.
They’ve been crap since the BancorpSouth merger.
It was all fixed by late yesterday. Big deal. Whatever. I use several different banks and at one time or another they have had issues.
https://www.justice.gov/opa/pr/justice-department-and-consumer-financial-protection-bureau-reach-settlement-bancorpsouth
Hey, 11:05 am, what is your plan for the eventuality that both of your banking institutions offloaded their processes to the same third party vendor to who goes down?
Keep those deposits left under my door mat coming. You can trust me with your money.
To find another institution not so subjected at my first opportunity. You can't plan for every contingency but I'm nearly positive I've got more flexibility than you do.
Then why are personal friends of mine calling me this morning to tell me about how it is still going on. How come Facebook is loaded with comments in the last six hours as those above?
Silver coins, weapons, ammunition and emergency food. Everybody should plan for widespread problems like what these Cadence customers are experiencing.
Appears Capital One uses this same vendor.. see Down Detector website
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