http://chicagobreakingbusiness.com/2010/09/chase-online-banking-sites-down.html
Chase online banking services still down
By Kathy Bergen
Posted today at 3:48 p.m.
Chase bank customers have been unable to conduct business online since Monday night, an uncommonly-long stretch of down time.
The online sites for retail banking and credit card transactions have been down due to technical problems, according to Tom Kelly, a spokesman for parent company JPMorgan Chase & Co.
Its an eternity in the online world, said Jacob Jegher, a senior analyst with Celent, a Boston-based financial services research and consulting firm.
Chase declined to comment on the cause of the problem. In the absence of information, speculation is swirling on Twitter and on online message boards.
The possibilities are many, said Jegher. It could be a security and fraud issue, or it could be more basic, a technical glitch.
Kelly offered assurances that customers personal information and bank balances remain secure.
At the moment, the biggest issue for customers seems to be an inability to pay bills online, Jegher said.
If youre a last-minute person in terms of paying your bills . . . youll be unable to do it, he said. The implications are late payments and fees.
Chase will be willing to work with customers who run into these sorts of problems, Kelly said. Whatever the issue is, were happy to talk with them, he said.
Chase, the nations second-largest bank, is urging customers to conduct their transactions at a branch or by phone, at 800-935-9935. Its ATMs are operating normally as well. The bank does not charge its customers fees for transactions at a teller station, by phone or at an ATM, Kelly said.
The bank did not have an estimate as to when the problem would be fixed. Chase has 16.5 million customers who use its online services.
Larger banks have made a massive push to encourage customers to conduct business online, both because its less costly for the bank and because its a convenience for the customer, Jegher said.
And customers have grown to rely on the service for many functions, such as checking on account balances. The Chase outage is an interruption of their day-to-day process, Jegher said.