Scotiabank Faces Technical Glitch, Disrupts Direct Deposits for Clients on Pay Day

Scotiabank has confirmed experiencing technical issues that have resulted in missed direct deposits, leaving many customers in financial uncertainty.

“We are currently experiencing a technical issue where some of our clients’ inbound payments, including direct deposits and cheque deposits, are not being applied to their accounts,” a representative for the bank informed CTVNews.ca via email and shared on X. “We are actively working to resolve this as soon as possible and apologize for any inconvenience.”

The issue surfaced late Thursday night, as evidenced by a spike in outage reports on DownDetector, a website that monitors such incidents. Reports surged from almost none to approximately 5,000 by 9 a.m. on Friday, with 89 percent of these issues categorized under “deposits.”

With the month-end approaching and many relying on their paychecks, the timing of this glitch has been particularly stressful. Many customers discovered the missing deposits upon waking Friday morning, leading to anxiety over mortgage and car payments, bills, rent, and even groceries.

Prior to their public statement on X, Scotiabank’s customer service hotline featured an automated message addressing the issue. “We are aware of the issue, and teams are actively working to resolve the concerns,” the message assured. “We anticipate the problem to be resolved shortly.”

This situation has left thousands of Canadians in a bind, highlighting the critical role of direct deposits in their financial stability. Scotiabank’s swift acknowledgment and ongoing efforts to rectify the problem aim to restore normalcy for affected clients as soon as possible.