UPDATE 10/21/22 1:18 p.m.: WFXR News received a statement from Atlantic Union Bank about deposits that disappeared from customers accounts with no notifications.
Atlantic Union Bank says they experienced an issue related to transactions because of a system change by their vendor. As soon as the issue was noticed they reported activating an emergency response team to correct the issue as well as contact the impacted customers.
WFXR spoke to customers Friday who say they have still not been notified. Atlantic Union Bank says they reached out via email and U.S. Mail.
John Asbury the CEO of Atlantic Union Bank put out a statement apologizing to the customers affected:
“I would like to offer my personal apology to any of our customers who were impacted. An excellent customer experience has always been our primary focus. Our team has been working diligently with our vendor to ensure all the transactions have been posted and any fees we may have charged you relating to this issue are credited. We are also working with our vendor to address the root cause of the problem to ensure it doesn’t happen again. We greatly appreciate our customers for their patience.”
— John Asbury
Atlantic Union Bank says customers can access their accounts using Online Banking at AtlanticUnionBank.com or call the Customer Care Center at 800.990.4828 if there are any questions Monday – Friday 7 a.m. – 8 p.m. and Saturday 7 a.m. – 5 p.m.
(WFXR) – Customers said it was “unsettling” when funds they deposited Monday were nowhere to be found.
Three customers using three different Atlantic Union Bank branches in Southwest Virginia say they were not notified of any issues. One had a receipt of the deposit, but the money wasn’t in his account.
Another, Belvia Armstrong, says she deposited cash Monday and realized something was wrong when her card declined.
“I went to the bank, and she said ‘Oh, there was some sort of problem, and they were taking care of it,” said Armstrong.
Armstrong says she was told the branch was putting money into her account so she could go about her day.
“I thought I should go check again, and I did — and it was negative, my bank account was negative,” she said.
Thursday, Armstrong said her account appeared back to normal. She and the other customers said their branches worked hard to try and rectify the issue, but each also said they were not notified of errors with their accounts.
WFXR tried to get in touch with Atlantic Union Bank to learn the cause of the issue, as well as which branches were impacted and whether or not it’s fully resolved.
We first tried to contact them around 1 p.m. on Wednesday. Over that time, we were delivered to voicemail six times, left four messages, and sent corporate communications four emails, as well as an email to investor relations.
We also contacted customer care multiple times and visited two branches, and were told we needed to speak with corporate communications. We have not heard back.
We also wanted to learn how to protect your money when things like this happen, so we checked in with a financial expert.
“Sometimes banking systems will have glitches, which means sometimes things go missing,” said Dr. Nancy Hubbard, dean of the College of Business at the University of Lynchburg.
She says you should always have a couple of hundred dollars at home and don’t underestimate a paper trail. Print your deposit receipts, and even print a bank statement a couple of times a year.
“You at least have a paper record of how much is in your bank account at some point,” she said.
WFXR is still working to learn more about how deposits did not make it into accounts, and which branches it impacted.