Recently, there was a network outage that made it so that many Bank of America users couldn’t get into their accounts and some saw that they had no money in them.
The problems started at 4:26 PM UTC on October 2 and got worse quickly after. Almost 18,000 customers reported problems, mostly with the bank’s mobile and online banking services. Even though Bank of America said that most of the problems had been fixed, many customers were still unhappy, citing problems with their account details.
Even though it was confusing, many users found that their accounts showed up as zero, but their bills were still clearly visible. One angry customer said on social media that it was strange that their money was going missing while their bills were still being paid.
Customers said they were having trouble at real stores where they couldn’t pay or withdraw money. Some ATM users also had problems; they couldn’t see their amounts but could still get cash.
In the middle of all the chaos, some Bitcoin supporters pointed out how reliable cryptocurrency networks are, saying that Bitcoin hasn’t had a major outage since 2013, while other platforms like Solana have had problems this year.
The fact that Bank of America’s stock price stayed the same during the outage shows that buyers did not think badly about the technical problem. As customers still deal with the effects of the shutdown, the bank has not fully explained what happened, but it has promised users that work is still being done to restore service.
