Cause of US bank outages is revealed as a 'human error' - as Truist, Bank of America, Chase, US bank and Wells Fargo affected

The cause of the outages experienced by banking giants Truist, Bank of America, Chase, US Bank, and Wells Fargo has been revealed.

Over the past 24 hours, customers have experienced a number of frustrating issues, like not receiving direct deposits, issues with transfers, duplicated withdrawals and more. Social media was flooded with angry customers asking how this happened and how they plan to fix it.

Read more: LIVE updates - Truist, Bank of America, Chase, US Bank, and Wells Fargo direct deposit systems down

Read more: 'You owe me a gajillion dollars' - customers troll US bank Chase over outage

The issue was reportedly caused by a single manual human error, within an organization called The Clearing House. This banking association is owned by the largest US banks, including JPMorgan Chase & Co., Bank of America, and Wells Fargo & Co. As a result, these banks experienced issues in processing payments. The processing issue allegedly caused a bug in the Federal Reserve's payment system. They were quick to announce the human error to assure customers that it was not a cybersecurity issue.

On their website, The Clearing House wrote: "The Clearing House (TCH) has experienced an ACH processing issue which impacts less than 1% of the daily ACH volume in the United States. TCH is working with the financial institutions who have customers that have been impacted. The processing issue pertained to a manual human error."

The banks took to their websites and apps to alert customers of the delays and complications that may incur. Other than this internal message to customers, the Bank of America did not release an official statement. Customers have taken to social media to express their outrage at the perceived lack of customer service assistance.

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