Bank of America's Customers Sees $0 Balance on Their Accounts

Tens of thousands of Bank of America customers experienced a network outage that prevented them from accessing their accounts or led to the discovery of a $0 balance.

Reports of service disruptions began around 4:26 PM UTC on 2 October, peaking about an hour later with nearly 20,000 customers reporting issues within a 15-minute window, according to real-time outage tracking platform Downdetector.

Approximately 98% of the complaints were related to the bank's mobile and online banking apps.

While Bank of America has not released an official statement regarding the outages, it noted that the issues had "largely been resolved."

By 1:01 AM UTC on 3 October, the bank announced that the "technology issues have been fully resolved.”

Bank of America Users' Outcry

Despite Bank of America's assertion that the issues have been resolved, numerous comments on Downdetector indicate that not all users are experiencing a fix.

Recent feedback on the bank's Downdetector page reveals ongoing problems, with many customers expressing frustration over the IT glitch.

Several users reported finding a $0 balance in their accounts while their debts remained unchanged, raising concerns about the reliability of the bank's systems.

The problems extended beyond Bank of America's mobile app, as highlighted by user Kerim on X (formerly Twitter):

“Went to branch and they are not allowing deposits or withdrawals.”

Several customers reported that while ATMs failed to display their account balances, they were still able to withdraw cash.

While many affected Bank of America customers expressed anxiety and frustration over the situation, others took a more light-hearted approach.

Some Bitcoin enthusiasts used the outage to advocate for self-custodying funds, contrasting Bank of America's issues with Bitcoin's robust uptime record, thereby underscoring the advantages of decentralised finance.