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Tell HN: Wells Fargo completely offline

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Re: Tell HN: Wells Fargo completely offline

#121

Post by paul7986 »

mabbo wrote: post #12
nemothekid wrote: post #7

Apparently there was a fire in a Datacenter - theres a thread on /r/sysadmin by an insider. https://np.reddit.com/r/sysadmin/comments/ao4g2y/wells_fargo...

Incredible. They had all their mission-critical infrastructure in a single data center. How many billions of dollars do they make per year? And they can't afford even a tiny bit of redundancy? If I were a customer, I'd use this as a sign that this company is not technically competent enough to manage my money.

What all their scandals didn’t convince you of that?

After all their logo is that of a stage coach aka the wild Wild West(robbers, thieves, etc). They do not hide who they really are.

Re: Tell HN: Wells Fargo completely offline

#122

Post by bridanp »

a3n wrote: post #80
bridanp wrote: post #57

Regional bank checking in. We've been told to reroute certain workloads through other means until 6am central Friday. Regardless of that, the story coming out of this over the next few days is really going to help Business Continuity departments at other institutions plan for this scenario. My teams are running mock scenarios this afternoon based on the auto power shutdown causing a data center to be unable to fail o…

I get paid by direct deposit into my WF acct between midnight tonight and 6am tomorrow. I suppose I can eventually rely on my employer keeping records and replaying everything.

If ACH areas are involved, hopefully they already had those queued a day early per normal routines and you'll (hopefully) be fine. There are exceptions allowing companies to provide ACH files late. That's the exception and not the rule.

Re: Tell HN: Wells Fargo completely offline

#123

Post by l4yao »

clairity wrote: post #75

for those who haven't taken the plunge, now is a good time to move to a credit union, regional bank, or online bank: - for instance, in cali: https://www.golden1.com/ - high interest accounts: https://www.bankrate.com/banking/checking/best-checking-acco... - good rate online bank: https://empower.me/ get better service, lower/no fees, and good convenience without all the economy-damaging selfishness and hubris.

I'm overwhelmed by the number of credit union options. Are there significant differences between the options? Anything in particular I should look out for? In general, I'm just looking for something to do day to day banking and potentially get a mortgage in the near term.

Re: Tell HN: Wells Fargo completely offline

#125

Post by barkingcat »

mabbo wrote: post #12
nemothekid wrote: post #7

Apparently there was a fire in a Datacenter - theres a thread on /r/sysadmin by an insider. https://np.reddit.com/r/sysadmin/comments/ao4g2y/wells_fargo...

Incredible. They had all their mission-critical infrastructure in a single data center. How many billions of dollars do they make per year? And they can't afford even a tiny bit of redundancy? If I were a customer, I'd use this as a sign that this company is not technically competent enough to manage my money.

I don't think you need this as a sign it's not technically competent. There are other much larger markers.

Re: Tell HN: Wells Fargo completely offline

#126

Post by airstrike »

turc1656 wrote: post #82
drharby wrote: post #74

Earlier quoted context omitted.

Real talk...they own my mortgage, i cant just 'forget about it' if they forget about it. I want to refinance it. Of they lose all data on my debt like that ending to Fight Club... is the debt just...gone?

Nope. Liens are recorded with the county/state as part of property law, as well as any other encumbrances. So that would actually probably make your situation worse because the lien holder would have no clue about the debt and claim on the property and could be hell for you to remove even if you kept paying and eventually paid everything off. Could potentially be a nightmarish scenario and an exercise in pure bureauc…

As a Brazilian who banks at Wells Fargo thinking about a mortgage, this thread isn't very encouraging

Re: Tell HN: Wells Fargo completely offline

#127

Post by baby »

clairity wrote: post #75

for those who haven't taken the plunge, now is a good time to move to a credit union, regional bank, or online bank: - for instance, in cali: https://www.golden1.com/ - high interest accounts: https://www.bankrate.com/banking/checking/best-checking-acco... - good rate online bank: https://empower.me/ get better service, lower/no fees, and good convenience without all the economy-damaging selfishness and hubris.

Is there a bank in the US similar to Monzo or Revolut? I really miss these having moved from the UK to the US and I haven't been able to find a good replacement.

Re: Tell HN: Wells Fargo completely offline

#128

Post by vonmoltke »

surge wrote: post #115
mabbo wrote: post #12

Earlier quoted context omitted.

Incredible. They had all their mission-critical infrastructure in a single data center. How many billions of dollars do they make per year? And they can't afford even a tiny bit of redundancy? If I were a customer, I'd use this as a sign that this company is not technically competent enough to manage my money.

They had redundancy, the redundancy failed. I mean truthfully when do you get to test your redundancy against a true disaster. It was a mess. WF is 20 companies rolled into one so the fact the disparate systems from 10 different banks works at all is kind of a miracle.

Bloomberg does it once a year. That said, I have yet to encounter a company more obsessed with business continuity. I don't doubt that their failover systems and testing of them are well beyond the typical.

Re: Tell HN: Wells Fargo completely offline

#129

Post by clairity »

l4yao wrote: post #123
clairity wrote: post #75

for those who haven't taken the plunge, now is a good time to move to a credit union, regional bank, or online bank: - for instance, in cali: https://www.golden1.com/ - high interest accounts: https://www.bankrate.com/banking/checking/best-checking-acco... - good rate online bank: https://empower.me/ get better service, lower/no fees, and good convenience without all the economy-damaging selfishness and hubris.

I'm overwhelmed by the number of credit union options. Are there significant differences between the options? Anything in particular I should look out for? In general, I'm just looking for something to do day to day banking and potentially get a mortgage in the near term.

a nice problem to have... =) nearly all credit unions have modern features like credit cards (with apple/android pay support), remote check deposit, and are part of a national ATM network, so you don't have to worry about needing (expensive) branches everywhere to do your banking.

when i choose a credit union, i optimized for two things:

- is there a branch close to work or home? this is mainly to develop a personal relationship in case i ever needed a loan. i'd deposit checks and withdraw cash in person occasionally.

- good rates on interest bearing accounts (at least 1%, but often >2% apr)

if you work for a larger institution, disney for example, joining their credit union is convenient.

Re: Tell HN: Wells Fargo completely offline

#130

Post by perl4ever »

danpalmer wrote: post #106
mabbo wrote: post #12

Earlier quoted context omitted.

Incredible. They had all their mission-critical infrastructure in a single data center. How many billions of dollars do they make per year? And they can't afford even a tiny bit of redundancy? If I were a customer, I'd use this as a sign that this company is not technically competent enough to manage my money.

The comment says that they have failovers in place, the just didn’t work correctly.

It's not lost, I know exactly where it is...at the bottom of the ocean!
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