Chime, a popular challenger bank, experienced an outage that began Wednesday and extended into Thursday morning in what could be a blow to its feel-good reputation.
Angry customers turned to Twitter to complain that their purchase transactions weren’t going through and that they couldn’t access their cash. For some of Chime’s customers, who are largely millennials, it meant they couldn’t eat, purchase things or pay bills.
On Twitter Chime blamed its payment processor, saying it is experiencing issues that brought down Chime’s website and app. “We’re aware and are working with them to get it up and running ASAP,” Chime said in a tweet
Hey there! We're experiencing intermittent issues with our mobile and web services. Your balance and personal information are secure. Card purchases and ATM withdrawals are working normally. For up to date information on Chime's services, check
Chime confirmed the outage stemmed from an issue with its gateway processing partner. “Chime card transactions and cash withdrawals have now been fully restored and members have full access to their funds. Deposits are posting and have not been affected by the outage. All consumer funds and data are safe,” Kendra Boccelli, a spokeswoman for Chime said in an email.
Thursday morning Chime told Twitter followers that card transactions, ATMs, and notifications for direct deposit were back online and that it was working to restore SpotMe–its fee-free alternative to bank overdrafts–and the ability to view account information in the app and website. The company had also provided status updates on its website and on Facebook.
Chime is among the leaders of the U.S. bank challengers that are trying to transform the way millions of people bank. Without any branches, Chime can operate leaner than its traditional bank rivals and pass on those savings to consumers in the form of zero fees. In September it surpassed five million FDIC-insured bank accounts. That's in about five years in operations with most of the new customers coming from its mobile app. The company is a darling of the venture capital community, recently raising $200 million in funding.
Chime caters largely to millennials, some of whom expressed outrage and dismay on Twitter about the outage, which was the third since July. That’s not good news for Chime. Millennials aren’t as loyal to a brand as the generations before them. They wouldn’t think twice about switching banks to get a better deal or service.
Some of the angry Chime customers used Twitter to vent. Customers said they wanted to sue while others expressed dismay that they couldn’t access their money for a period of time that extended into the next day. Others threatened to leave the challenger bank altogether.
if you are intrested check this aricle
What Is Bitcoin?
Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, and thus removing the need for third-party involvement in financial transactions. It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges.
Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto.
It has since become the most well-known cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. These competitors either attempt to replace it as a payment system or are used as utility or security tokens in other blockchains and emerging financial technologies.
Learn more about the cryptocurrency that started it all—the history behind it, how it works, how to get it, and what it can be used for.