Capital One’s online banking services were disrupted for at least two days, affecting thousands of customers who faced delays with transactions and deposits. The issue began on Wednesday and persisted into the weekend, with nearly 4,000 customers reporting problems each time.
The company blamed a technical issue with a third-party vendor for the disruption, which temporarily impacted account services, deposits, and payment processing. Customers expressed frustration over delays with direct deposit payments and took to social media to air their grievances.
One affected customer, Mike Matsos, a hospitality worker in Alabama, said he was left without savings after waiting for his paycheck for days. However, Capital One has since restored full account functionality and processed outstanding transactions for most of its customers, with work ongoing to restore services to all affected customers as soon as possible.
The company assured users that their funds were secure and would accurately show when the tech issue was resolved. This disruption comes after federal regulators filed a lawsuit against Capital One earlier this week, alleging the company deliberately underpaid interest on savings accounts, potentially costing depositors over $2 billion.
Source: https://www.nytimes.com/2025/01/18/business/capital-one-outage-direct-deposits.html