A technical glitch at Capital One has left thousands of banking customers unable to access their accounts, process payments, or receive direct deposits since January 15. The issue, attributed to a third-party vendor, affects various account services for consumer, small business, and commercial banking operations.
The disruption has been ongoing, with over 3,400 outage reports logged on Down Detector as of Friday morning, up from around 2,100 on Thursday. Capital One CEO Jack Prenter emphasizes the importance of making claims whole quickly to regain customer trust.
Many customers have reported difficulties in paying bills and covering essential expenses due to the mid-month pay period coinciding with the outage. One frustrated customer stated, “Some of us have bills to pay and groceries to buy. At least keep us in the loop.” Capital One has acknowledged the issue and is working with the vendor to resolve it.
The prolonged nature of the outage raises concerns about customers’ financial well-being, particularly with upcoming holidays like Martin Luther King Jr. Day when banks will be closed. Experts advise diversifying bank accounts to minimize the impact of technical disruptions.
As Capital One works to resolve the issue, some customers have expressed anxiety and frustration due to the lack of a clear timeline for resolution. This incident highlights the importance of having a backup plan in place and re-evaluating banking options when digital systems fail.
Source: https://fortune.com/article/capital-one-service-outtage-january-2025