Capital One is struggling with technical issues that have left thousands of customers without direct deposits, with no end in sight yet. The bank reported nearly 4,000 issues earlier in the day but reduced the number to under 3,000 by Friday afternoon.
According to Down Detector, an online service tracking tech outages, the problem escalated on Wednesday and reached over 1,700 reports by Thursday. Capital One has assured customers that their funds are safe and that account functionality will be restored as soon as possible.
The issue is not related to fraud or hacking attempts but rather a technical glitch caused by a third-party vendor, Fidelity National Information Services (FIS). The company, which processes payments for banks like Bank of Oklahoma, reported that its data center was affected by a power outage and has since restored access to the applications impacted.
Capital One expects services to gradually return to normal on Friday and resolve most issues by Saturday morning. However, customers remain frustrated as they wait for their transactions to be processed online. The bank is urging patience, assuring customers that their funds are secure and will be accurately reflected once the issue is resolved.
This technical issue has added to Capital One’s woes, following a recent lawsuit alleging the bank misled customers about its high-interest savings accounts, costing them over $2 billion in potential interest payments.
Source: https://www.cbsnews.com/news/capital-one-direct-deposit-issues