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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Chase Customers Shocked By Zero Checking Account Balances

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Chase Bank worried many of its customers on Monday when an apparent software glitch caused zero balances to be shown. There were fears that hackers were responsible, but Chase denied it. CNET reported that a Chase spokesperson stated "that the problem was related to an internal issue and not a security breach." The problem appears to have been resolved. Chase customer support has tweeted that "we're back to business as usual."

I logged into my Chase account this morning, and my account balances are correct. I didn't log into my Chase account last night so I'm not sure if it had affected me. If you experienced problems with your Chase account, please leave a comment.

According to CNET, a distributed denial-of-service (DDoS) attack made Chase websites inaccessible about a week ago. So it's understandable why customers would worry after seeing a zero balance in their accounts. However, it's important to realize that DDoS attacks have no direct effect on your money. As I described last year, a DDoS attack sends a huge amount of traffic to a website which overloads the website and makes it inaccessible for others. But as one reader pointed out, DDoS attacks can make it easier for hackers to use other techniques to steal your login IDs and passwords. I'm sure several customers were initially worried that may have happened when they saw zero account balances.

Twitter came in handy for customers. Chase's customer support Twitter page provided some info about the problem. On Monday afternoon, the Chase support tweeted "*ALERT* Customers are unable to view their checking account balances online and on mobile. We will keep you updated as we learn more." After two additional updates, Chase support tweeted the following on the early morning of Tuesday: "*UPDATE* We're back to business as usual on http://Chase.com & Mobile. Apologies again for the trouble & thank you for your patience." This is a good reason why you may want to follow your banks on Twitter. It can prevent you from wasting time trying to reach a customer service rep when the problem is a known issue that is affecting multiple customers. In a previous blog post I have details about how to use Twitter to enhance customer service.


  Tags: Chase Manhattan Bank

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Comments
6 Comments.
Comment #1 by Anonymous posted on
Anonymous
And that is why you should never keep your money in just one bank. I have 4, with about same balance in all of them, if one failed for some reason, I can use the others.

These days with electronic banking, many things can go wrong, like power outages, hack attacks, server failure, DDoS, network failures, ATM failures, Internet failures and many more perils.

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Comment #2 by Jan Valcke, President & Chief Operating Officer, V (anonymous) posted on
Jan Valcke, President & Chief Operating Officer, V
As organized fraud attacks on financial institutions surge to new records consumers are increasingly concerned about the safety of their financial activities. With two factor authentication now even easier to roll-out and end users ever more aware of the vulnerabilities associated with the use of static passwords to protect password protected content and consumer assets associated with their digital life (including social media and financial), security breaches such as these serve to encourage organizations to improve the security of their log-in procedures. When a security breach happens it is not just a minor frustration for the consumer but there is often long–term brand damage associated with financial loss. 
For endusers, two factor authentication is no more complex than putting on a seat belt, but the security benefits it provides are considerable. While we can’t mandate that people ‘buckle up’ when online, we should at least give them the option to.

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Comment #3 by Anonymous posted on
Anonymous
I saw something neat with google the other day, which basically said they blocked someone from romania from logging into my account.   I hope the banks start to consider something along those lines.   First off block anyone from outside the country your in, secondly allow you to restrict to come only from a small range of addresses, or better yet allow you to setup a secure certificate.  You could really restrict the major part of your accounts and maybe have 1 bank for emergency expenses, with a litte more leniency, so if your out of town, you can get to it.  The majority of my banks I have no need to access unless I am at home.  Then we would have alot better security.  Adding security questions, making more rules for password, only marginally adds to security, making it so I can only get to it from 1 PC, now that is security.   And if that pc takes a dump, well then I got to go through some red tape to add a new one, no biggie for the piece of mind that some hacker isn't going to clean my accounts out when I am sleeping.

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Comment #4 by Anonymous posted on
Anonymous
Thanks for the advice using Twitter, Chase online bank was inaccessible for at least 2 hours in the afternoon Tuesday.

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Comment #5 by Anonymous posted on
Anonymous
I logged in Monday night and where my balances would be, it said "System Unavail."  That being said, Chase is the best bank out there, period.  I trust them fully and I did not panic when I saw this.  Chase has always responded quickly to technical issues and keeps their customers updated.  And if something did happen to my money, I would be 100% confident Chase would be there for me, like they always have been so to those that did panic, just relax, technical issues happen from time to time.

3
Comment #6 by Anonymous posted on
Anonymous
I did login from my iPhone app and found zero balance on both checking and savings accounts.  When I called Chase they had zero details for me and only stated "we have a technical issue" that is being worked on.  When the Rep told me that she herself couldn't even access my account, that made me even more worried and I informed her that this is very troubling in which I received no response from her.  Not very reassuring.  My balances did come back correctly...but I am uneasy about future issues.  

1