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General Discussions => Tech Talk => Topic started by: daniel1948 on February 07, 2019, 10:53:06 AM

Title: Wells Fargo On-Line is off line.
Post by: daniel1948 on February 07, 2019, 10:53:06 AM
I’ve actually had very good experience with Wells Fargo over the years. But this outage has lasted for hours and they’re not saying what the cause is. Maybe they don’t know. I’m not really affected yet. I don’t need on-line access right now, and I use a local bank for purchases (this is a good lesson about never being dependent on just one bank for day-to-day living expenses) but one can’t help wondering what happens to the economy if hackers ever manage to actually take down a major bank. I’m assuming this is the work of hackers because I think it’s unlikely that it’s a bug in their own code. The report is that phone bankers cannot access people’s accounts, so it’s deeper than just their public-facing servers. But I don’t understand this stuff at all.

If you are dependent on just one bank for your day-to-day expenses, diversify! Get an account in another bank as a back-up.
Title: Re: Wells Fargo On-Line is off line.
Post by: Ah.hell on February 07, 2019, 12:16:21 PM
Wow, wells fargo still has customers?
Title: Re: Wells Fargo On-Line is off line.
Post by: daniel1948 on February 07, 2019, 10:53:03 PM
All banks are evil. Wells Fargo is a bank. Therefore WF is evil. Banks provide useful, even necessary services. WF is a bank, therefore it provides useful and necessary services. Large banks are more evil than small banks, but also are able to offer more services more conveniently. I find the convenience of a large bank to be beneficial for me. And IMO it would be naive to think that WF is worse than any other large bank.

This is the most serious lapse of their on-line banking system in the many years I’ve had accounts there.
Title: Re: Wells Fargo On-Line is off line.
Post by: st3class on February 07, 2019, 10:56:33 PM
Looks like it was the result of reported smoke at one of their server farms.

https://twitter.com/WellsFargo/status/1093566291112353793 (https://twitter.com/WellsFargo/status/1093566291112353793)


https://twitter.com/WellsFargo/status/1093695631955238912 (https://twitter.com/WellsFargo/status/1093695631955238912)
Title: Re: Wells Fargo On-Line is off line.
Post by: Ah.hell on February 08, 2019, 09:08:14 AM
All banks are evil. Wells Fargo is a bank. Therefore WF is evil. Banks provide useful, even necessary services. WF is a bank, therefore it provides useful and necessary services. Large banks are more evil than small banks, but also are able to offer more services more conveniently. I find the convenience of a large bank to be beneficial for me. And IMO it would be naive to think that WF is worse than any other large bank.

This is the most serious lapse of their on-line banking system in the many years I’ve had accounts there.
They are a bank, and they've been caught committing widespread fraud on there customer base.

https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal

Some banks are actually worse than others. 
Title: Re: Wells Fargo On-Line is off line.
Post by: daniel1948 on February 08, 2019, 10:16:25 AM
“As this world you travel, you’ll meet some funny men; some will rob you with a six-gun, some with a fountain pen.”
— Woody Guthrie.

Wells Fargo is no different than any other bank except in the details of how they extract money from you. The actual fraud was opening accounts for customers without those customers’ knowledge. Not nearly as bad (in my opinion) as Citibank laundering drug money for the Salinas brothers. Or selling worthless mortgage tranches to gullible investors.

Wells Fargo is just another big bank. If you think some other large bank will screw you over any less, I think you’re being unrealistic. As noted above, small locally-owned banks are often less ruthless, but offer fewer services and less convenience.
Title: Re: Wells Fargo On-Line is off line.
Post by: Captain Video on February 08, 2019, 04:37:07 PM
I like Wells Fargo because I can't get that Ron Howard song from Music Man out of my head when I go there. I'm ready for a change.

I'm considering alternative banking methods. I have heard positive things about an online only bank and my business may do better at a local credit union.

I was happy with my business bank but they just merged with another bank making them a very big bank which concerns me about upcoming changes in service. If the name changes I'm out.

I don't know why a banks name matters to me but it does.
Title: Re: Wells Fargo On-Line is off line.
Post by: CarbShark on February 08, 2019, 06:25:34 PM
I got a text message today saying my Well Fargo account was suspended for suspected fraud and gave me a link to click.

So, obviously, scammers and hackers have figured out the WF customers aren't able to log on to their accounts and when they see this message they'll follow the link and give away their username and password.