Bank says there is no clear timetable for the return to normal services | Economic news

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New Peoples Bank, based in southwestern Virginia, says there is no specific timeline for returning all of its banking services to normal after the bank began experiencing disruptions last week. last.

The bank alerted customers to the service disruptions Wednesday morning in a Facebook post, saying all of its banking services were unavailable due to a “technology issue”. The bank later said its debit cards could make purchases and ATMs were working, although the balance inquiry feature was not available.

The following day, the bank announced that it was “experiencing an interruption in the operability” of IT systems and that “third-party experts” had been retained to help with the response. The bank has since been able to open its drive-thru windows for limited transactions such as withdrawals, deposits, check cashing and loan repayments.

Phone systems also went down, but returned to branches except for Big Stone Gap, Haysi, Clintwood and Grundy.

On Friday, New Peoples Bank shared a systems update and FAQ document saying they “cannot provide a definitive timeline on full restoration,” but progress is being made while an investigation is ongoing. Classes.

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The bank also said on Saturday that it did not have “a full picture of the scale of the incident”, but said “the outage was due to a network incident”.

New Peoples Bank says debit cards should work, but the bank is unable to transfer funds. Bill payment was also not available, as of Friday’s update.

The bank said there would be no overdrafts or late fees during the outage, and direct deposits would be made once the systems were restored.

The bank opened branches on Saturday for half a day, but closed on Monday for the June 16 holiday.

New Peoples Bank assures its customers that their money is safe.

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