Capital One has been hit by a nationwide outage, preventing customers from sending payments or accessing their money.
Downdetector, a website that monitors online issues, shows the bank’s services went down starting around 5am ET.
Customers reported issues with making deposits, accessing account balances and online login.
One Capital One user claimed they spoke to a manager who said that the bank has been having issues with early deposits since Wednesday.
‘He stated if not posted by regular pay date, then to file a claim with them,’ they said.
Another person said there are ‘high call volumes’ when calling customer service to inquire about issues hitting Capital One services.
Many people are frustrated over their direct deposit not reflecting in their accounts.
A major US bank has been hit by an outage, preventing customers from sending payments or accessing their money
Downdetector’s outage map shows issues are largely focused on the East Coast, likely due to people checking their bank accounts before heading into work.
ome issue reports are coming from Texas and Southern California.
Approximately 77 percent of reported problems to Downdetector cite deposits, 15 percent for account balances and a small eight percent of the reports list online login.
Users are sharing updates about the outage on Downdetector. One user, ‘Jenny,’ said: ‘I was told ‘By the end of day’ we should all get the [direct deposit]. Guess we will see.’
Another claimed they spoke to a customer service representative who said the problem stems from the Automated Clearing House (ACH), which is a nationwide network through which depository institutions send each other batches of electronic credit and debit transfers.
Customers have also shared their frustrations on X.
User Eddie Kane posted: ‘#CapitalOne hasn’t released not ONE statement regarding the technical issue and customers’ paychecks not processing yet today.
‘I need #CapitalOne to fix whatever technical issue they have going on so I can receive my paycheck, this is unacceptable.’
The outage comes as Capital One was accused of ‘cheating’ customers out of $2 billion in interest payments on savings accounts.
The bank was sued on Tuesday by the Consumer Financial Protection Bureau (CFPB).
The outage comes as Capital One was accused of ‘cheating’ customers out of $2 billion in interest payments on savings accounts
The watchdog said Capital One promised customers that their popular 360 Savings account provided one of the ‘top’ and ‘highest’ interest rates, but then froze their rate at a lowly 0.30 percent while rates rose nationwide in line with the Federal Reserve’s benchmark rate.
About the same time, Capital One created a virtually identical product, called ‘360 Performance Savings.’
This differed only from the 360 Savings account in that it paid out substantially more interest – at one point more than 14 times the 360 Savings rate.
The bank did not notify 360 Savings account holders about the new product, and instead ‘schemed’ to keep them in the dark about the better-paying products, the CFPB alleges.
‘The CFPB is suing Capital One for cheating families out of billions of dollars on their savings accounts,’ said CFPB Director Rohit Chopra. ‘Banks should not be baiting people with promises they can’t live up to.’
The watchdog is seeking compensation for affected customers in its lawsuit, which it expects to win.
