Banks working to resume normal operations after global IT outage

Trish Hartman Image
Friday, July 19, 2024
Banks working to resume normal operations after global IT outage
The overnight IT outage impacted online services worldwide, including mobile banking and the use of debit or credit cards.

CHERRY HILL, New Jersey (WPVI) -- The overnight IT outage impacted online services worldwide, including mobile banking and the use of debit or credit cards.

While many of those services have since returned, the disruptions to banking are far from over.

TD Bank was among the companies that were having issues on Friday.

"You know we rely so much on technology and when something goes out, we're stuck," said Marie Prettyman of Haddonfield, N.J.

She wasn't able to make the deposit and withdrawal she needed to make at the Cherry Hill Branch on Friday around midday.

"I wanted to do the whole thing but the computers are down. You can't use your debit card. So it's a little frustrating. And I know people are going in there angry," said Prettyman.

In a statement, TD Bank said teams are working hard to restore all online banking and other impacted systems. For immediate banking needs, TD customers can visit their local TD Bank or fully-operational ATM.

Online banking seemed to be back online around 2 p.m.Friday.

RELATED: What is CrowdStrike, the company linked to the global outage?

We spoke to one woman who was trying to open an estate account at TD Bank but was turned away.

"They just said, 'We're sorry. We cannot open up any accounts today and please call back before you come in again,'" said Natalie Procacci-Miller of Marlton, New Jersey. "So just thought, 'Okay, that's fine. I wanted to get it done today but that's life!'"

We spoke with a finance expert Friday about potential impacts.

"Imagine if you're an investor, you may end up owning some stock you didn't want to own - may have sold some stock you didn't want to sell," said Mark Guthner, associate professor of financial practice at Rutgers University.

Also affected Friday: delivery and shipping services UPS and FedEx.

FedEx said it is working diligently to lessen any impact on service and is asking for patience from customers. They're directing customers online for questions and service issues.

UPS similarly said the third-party software outage is affecting computer systems in the U.S. and Europe. They say while air and road deliveries are underway, there may be some delays.

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