Capital One’s technical outage which had been impacting the processing of some deposits, payments and transfers – has dragged on into Friday.
“We are working around the clock with our service provider to resolve this issue. Systems are gradually updating and when systems are restored, you will be able to see your expected transactions online,” Capital One responded to a customer on X Friday.
The financial instution announced on Thursday that it was experiencing a tech issue to due a third party vendor that is “temporarily impacting some account services, deposits, and payment processing for portions of our consumer, small business, and commercial bank.”
Since Thursday, the bank has been working with the vendor – Florida-based Fidelity Information Services (FIS) – to resolve the issue and restore services.
At 2 p.m. Friday, 2,800 outages related to Capital One were reported, according to Downdetector. That’s down from 9:30 a.m. on Friday when nearly 4,000 reports funneled in.
CAPITAL ONE SUED BY CFPB FOR ALLEGEDLY CHEATING CUSTOMERS OUT OF $2 BILLION
“We know it’s important to have your money when you need it, so we apologize for any inconvenience this is causing, and we appreciate your patience while we work to get this resolved,” the company wrote on Thursday as complaints started to stack up on the social media platform o
Several users on Downdetector posted about not getting paid, and another posted about not having access to an app.
“It’d be nice to get paid. I’m hungry,” another posted.
Capital One expected services to gradually begin to return to normal and for the majority of these issues to be resolved by Friday morning.
INVESTMENT BANKERS SAY TRUMP MERGERS AND ACQUISITIONS BOOM ALREADY UNDERWAY
“Once the systems are restored, we will process all deposits and other transactions that have been delayed. You will be able to see those deposits and other transactions after they have posted by visiting us online or through the Capital One Mobile app,” Capital One told FOX Business.
“As always, we appreciate your business and apologize for any inconvenience that this disruption has caused you. We assure you that we are taking this event very seriously,” the company said.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
It’s the latest blow to the financial institution, which is being sued by the Consumer Financial Protection Bureau (CFPB) for allegedly misleading customers by not notifying them of account options that paid higher interest rates.
The federal government’s consumer watchdog claims Capital One’s practices meant millions of customers missed out on a collective $2 billion they could have made in interest payments.
“We are deeply disappointed to see the CFPB continue its recent pattern of filing eleventh-hour lawsuits ahead of a change in administration,” Capital One said in a statement. “We strongly disagree with their claims and will vigorously defend ourselves in court.”
Read the full article here