The banking industry encountered an unusual occurrence affecting individuals and businesses alike today. Locally, the event was noticed at American State Bank in Sioux Center around 10:30 this morning. American State Bank Vice President Joel Westra says ACH debits and credits from a period between May and December of 2015 were trying to re-process.
Westra says their vendor, Shazam, who helps process community bank’s ACH files, submitted an ACH file in error.
Westra says Shazam assured them that the issue will be resolved by day’s end, and unless you’re constantly watching your online banking account, you likely didn’t notice it even happened. He says they’re still trying to determine if the correction will show up on statements as a debit and a credit – in and out, or if the transactions from 2015 will show up at all.
Westra says it’s unlikely the resolution will miss any accounts, once Shazam corrects the problem, everything should be back to normal.
