Thousands of Capital One customers reported issues with accessing their money online Friday, as a “technical issue” impacting the bank’s services, including payment processing and deposits, continues to affect customers for a second day.
The bank said it was experiencing a “technical issue” with a third-party vendor, impacting some … [+] account services like deposits and payment processing.
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Key Facts
Capital One acknowledged the outage on Thursday, saying on X the bank was experiencing a “technical issue” with an unnamed third-party vendor that would temporarily impact customer services, noting the issue would likely be resolved Friday morning.
More than 2,100 customers reported issues just before 9 a.m. EST on Thursday, according to DownDetector, with thousands of additional customers reporting additional outages throughout the day and another surge of reports Friday morning.
About 90% of reports indicated issues with accessing direct deposits, including some customers who wrote on X saying they were unable to access recent paychecks and payments, while others reported issues with accessing their accounts on the Capital One app.
Capital One, responding to a wave of customer complaints on X, said late Thursday it would “care for all reasonable fees” incurred because of the outage.
Fidelity Information Services, Capital One’s third-party vendor, told Forbes the company was restoring applications affected by a local power outage near one of its data centers.
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Tangent
An issue with Capital One’s account services follows “technical issues” impacting Citibank customers on Wednesday, including hundreds who reported receiving fraud alerts. The bank said Friday the issues had been resolved.
Key Background
The outage at Capital One comes just days after financial regulators accused the bank of “cheating” millions of customers of more than $2 billion in interest. Capital One disclosed in a filing late last year the Consumer Financial Protection Bureau was investigating the bank over its savings accounts, and the agency later alleged Capital One froze the interest rate for the bank’s “360 Savings accounts” even as deposit rates rose nationwide. The bank also prevented account holders from switching into new higher-yielding “360 Performance Savings” accounts, which regulators said were not marketed toward existing Capital One customers. Capital One has denied the allegations.
Further Reading
