Widespread Bank of America outage over after millions lost account access

Oct 3

Lauren Taylor Anchor/Reporter

By Lauren Taylor (Anchor/Reporter), Jake Maslo (Video Editor)

This report was created with support from enhanced software.

Bank of America’s outage is over, according to representatives. On Wednesday, Oct. 2, millions of customers were unable to access their accounts or were confronted with alarming $0 balances.

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The digital meltdown affected multiple banking channels, with 57% of reported issues related to online banking, 42% to mobile banking, and 1% to ATM services, according to Forbes.

Numerous users reported log-in errors and accounts displaying a balance of $0, sparking widespread alarm among those who rely on the bank for day-to-day transactions.

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Users also reported issues with Zelle, a platform co-owned by Bank of America and other major banks, further complicating the situation for those relying on digital transactions.

This crisis was reminiscent of a similar event in January 2023, when some Bank of America customers couldn’t access their accounts during another widespread outage — raising questions about cybersecurity and the reliability of digital banking systems.

Bank of America reassured customers that the issues were largely resolved and emphasized its commitment to addressing any lingering problems, while apologizing for the inconvenience caused.

The bank did not specify the cause of the outage.

Tags: Bank of America, Banks

Lauren Taylor

BANK OF AMERICA’S OUTAGE IS OVER ACCORDING TO REPRESENTATIVES FOR THE COMPANY.

ON WEDNESDAY, MILLIONS OF CUSTOMERS WERE UNABLE TO ACCESS THEIR ACCOUNTS OR THEY WERE CONFRONTED WITH ALARMING $0 BALANCES.

THE DIGITAL MELTDOWN AFFECTED MULTIPLE BANKING CHANNELS, WITH 57% OF REPORTED ISSUES RELATED TO ONLINE BANKING, 42% TO MOBILE BANKING, AND 1% TO ATM SERVICES, ACCORDING TO FORBES.

NUMEROUS USERS REPORTED LOG-IN ERRORS AND ACCOUNTS DISPLAYING A BALANCE OF $0, SPARKING WIDESPREAD ALARM AMONG THOSE WHO RELY ON THE BANK FOR DAY-TO-DAY TRANSACTIONS.

USERS ALSO REPORTED ISSUES WITH ZELLE, A PLATFORM CO-OWNED BY BANK OF AMERICA AND OTHER MAJOR BANKS, FURTHER COMPLICATING THE SITUATION FOR THOSE RELYING ON DIGITAL TRANSACTIONS.

THIS CRISIS WAS REMINISCENT OF A SIMILAR EVENT IN JANUARY 2023, WHEN SOME BANK OF AMERICA CUSTOMERS COULDN’T ACCESS THEIR ACCOUNTS IN ANOTHER WIDESPREAD OUTAGE – RAISING QUESTIONS ABOUT CYBER SECURITY AND RELIABILITY OF DIGITAL BANKING SYSTEMS.

BANK OF AMERICA REASSURED CUSTOMERS THAT THE ISSUES WERE LARGELY RESOLVED AND EMPHASIZED THEIR COMMITMENT TO ADDRESSING ANY LINGERING PROBLEMS AND APOLOGIZED FOR THE INCONVENIENCE CAUSED.

THE BANK DID NOT SAY WHAT CAUSED THE OUTAGE.