Bank of America online banking system goes down locking thousands out of their accounts

Bank of America online banking system goes down locking thousands out of their accounts

Bank of America’s online banking system went down and locked thousands of people out of their accounts, but appeared to have started to allow some users back onto the platform as of midday.

Shortly after 2pm, Communications Executive Mark Pipitone told The Independent that they were “100 per cent restored”.

The bank’s website was inaccessible on Friday morning, with the bank issuing a statement acknowledging that its online banking system was down.

The company posted a message to its customers on its site, telling them that the problem was being looked into and that their accounts were safe.

“Some customers may be unable to access Online Banking at this time. Your accounts continue to be secure,” the message said. “We are actively working to make our site available again to all of our customers as soon as possible.”

“We’re aware some clients are experiencing slowness as they try to access account information. We’re working to improve the situation asap. Client information remains safe and secure,” a spokesperson for the bank said, according to Insider.

According to DownDetector, the company received more than 12,000 complaints on Friday about not being able to log in.

Users said they were unable to transfer money, with some being worried that they may be unable to pay bills due on 1 October.

In September, the industry publication Global Finance named Bank of America the “Best Consumer Digital Bank in the United States” – prompting David Tyrie, the bank’s Chief Digital Officer, to say that they are “delivering unmatched financial technology to help make our clients’ financial lives better”. 

The bank was given the annual award based on its service for digital clients as well as site design and functionality for both web and mobile platforms.

JD Power also ranked the bank as number one for online and mobile banking.

“Bank of America ranks highest in banking mobile app satisfaction among national banks, with a score of 871. Chase (870) ranks second and Capital One (864) ranks third,” JD Power said in a press release.

In August, Bank of America said that “85 per cent of deposit transactions are being made through the Bank of America app, ATMs and other automated channels – driven by nearly 48 million checks deposited digitally during the second quarter alone”.

“More than 70 per cent of Bank of America clients are actively using digital channels for more of their needs, including 72 per cent of consumer and small business clients, 80 per cent of wealth management clients across Merrill and Bank of America Private Bank, and 75 per cent of global banking clients,” the company added.

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