Capital One said Saturday the bank had made “substantial progress” in resolving an outage and had restored account functions and processed outstanding transactions for most customers, after thousands of people reported problems. problems accessing their money online this week.
The bank said it was experiencing a “technical issue” with a third-party provider, affecting some … (+)
NurPhoto via Getty ImagesCapital One, which on Thursday acknowledged an outage affecting customer services, said on Saturday that the bank had made “substantial progress” in resolving an issue with a third-party vendor.
More than 2,100 customers reported problems just before 9 a.m. ET on Thursday and the number of reports increased through Friday, according to DownDetector, although fewer customers reported problems on Saturday after- noon.
About 90% of reports indicated problems accessing direct deposits, including some customers who wrote to X saying they couldn’t access recent paychecks and payments, while others reported problems problems accessing their accounts on the Capital One app.
Capital One, responding to a wave of customer complaints about
Fidelity Information Services, Capital One’s third-party provider, told Forbes that the company was restoring applications affected by a local power outage near one of its data centers.
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A problem with Capital One’s account services follows “technical issues” affecting Citibank customers Wednesday, including hundreds who said they received fraud alerts. The bank said Friday the issues had been resolved.
The outage at Capital One comes just days after financial regulators accused the bank of “cheating” millions of customers out of more than $2 billion in interest. Capital One revealed in a filing late last year that the Consumer Financial Protection Bureau was investigating the bank over its savings accounts, and the agency later claimed that Capital One had frozen the interest rates on the bank’s “360 savings accounts” even as deposit rates rose nationwide. The bank also blocked account holders from switching to new, higher-yielding “360 Performance Savings” accounts, which regulators said were not being marketed to existing Capital One customers. Capital One has denied the allegations.
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