Capital One ‘technical outage’ leaves customers reporting issues with deposits for over 24 hours

Capital One customers have been struggling to make deposits since the banking service crashed on Wednesday.

The bank revealed on Friday that “technical issues experienced by an external supplier” were responsible for the nationwide outage.

“This has specifically delayed the processing of some transactions, including direct deposits and Early Pay credits for direct deposits, as well as electronic payments and funds transfers (ACH),” Capital One shared in a statement.

The vendor behind the outage is FIS Global, a provider of financial technology services to several major banks.

Capital One’s social media page says it is “actively working with the supplier to resolve the issue and restore services, and apologize for the inconvenience.”

The bank serves more than 100 million customers in the US, Canada and the UK.

Although customers report not seeing their deposits in their accounts, Capital One has assured them that their “funds are safe.”

However, customers said they could not pay electricity bills, rent groceries or buy groceries because their accounts were depleted.

Scott Krugman, a spokesperson for FIS Global, told DailyMail.com: ‘FIS has restored access to the applications affected by the outage. We are working with affected customers to complete the posting of transactions that occurred while systems were offline and expect most, if not all, of the work to be completed today.”

Downdetector, a site that monitors online problemsshowed a complete outage hit Capitol around 5 a.m. yesterday, but some customers were experiencing issues as early as Wednesday.

“I only have $2.07 in my account as of Wednesday [Capital One]. Please resolve this. Some people live paycheck to paycheck and rely on you to give them their money on time,” says Sierra Brown on Downdetector.

While Nicole Figueroa wrote: ‘I’m sure rent-a-center will be knocking on my door soon.’

DailyMail.com has contacted Capital One for comment.

Capital One officially notified customers of the outage in an email Thursday, saying the company expects “services will gradually return to normal today and most issues will be resolved by tomorrow morning.”

But the email left out the issues affecting business owners.

“This email doesn’t even address my issue with all of my business accounts being unavailable to myself and Capital One for over 48 hours,” Bonnie Brochhausen wrote on X.

‘I couldn’t even make a deposit at my local bank branch because they couldn’t find any business accounts in their system. Terrible customer service.’

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The outage has left some customers vowing to ‘never use Capital One again’, while others suggested a class action lawsuit be filed against the bank.

The fiasco comes after Capital One was accused of “defrauding” customers of $2 billion in interest payments on savings accounts.

The bank was sued on Tuesday by the Consumer Financial Protection Bureau (CFPB).

The watchdog said Capital One promised customers that its popular 360 Savings Account offered one of the “top” and “highest” interest rates, but then froze their rates at a modest 0.30 percent, while rates rose nationwide in line with the Federal Reserve benchmark interest rate.

Around the same time, Capital One created a nearly identical product called “360 Performance Savings.”

This differed from the 360 ​​Savings Account only in that it paid substantially more interest – at one point more than 14 times the 360 ​​Savings rate.

The bank failed to inform 360 Savings Account holders about the new product, and instead “schemed” to keep them in the dark about the higher-paying products, the CFPB alleges.

“The CFPB is charging Capital One with defrauding families of billions of dollars in their savings accounts,” said CFPB Director Rohit Chopra. ‘Banks should not bother people with promises they cannot keep.’

The watchdog is demanding compensation for affected customers in its lawsuit, which it expects to win.