Capital One announced on January 19, 2025, that it has made “substantial progress” in resolving a significant outage affecting customer account access. The issues, which began on January 18, were linked to a technical problem with a third-party vendor, resulting in thousands of customers being unable to access their funds online.
- Capital One resolved account access issues.
- Outage caused by third-party vendor problems.
- Over 2,100 customer reports of issues.
- 90% of complaints related to direct deposits.
- Capital One to cover reasonable fees incurred.
- Regulatory scrutiny over interest rate practices.
The outage began early on January 18, when more than 2,100 customers reported issues accessing their accounts. The number of complaints increased throughout the day, with most reports indicating problems with direct deposits. By January 19, the bank stated that the majority of services had been restored, although some customers continued to experience difficulties.
Key details include:
- 90% of reports were related to issues accessing direct deposits.
- Capital One pledged to cover reasonable fees incurred by customers due to the outage.
- The third-party vendor involved, Fidelity Information Services, cited a local power outage as the cause of the disruptions.
In response to the complaints, Capital One communicated with customers via social media, assuring them that the issues would be resolved promptly. The bank’s commitment to customer service included addressing any fees incurred during the outage. This incident follows a recent investigation by financial regulators into the bank’s practices regarding savings account interest rates, which may have contributed to customer dissatisfaction.
Overall, Capital One has made significant strides in addressing the technical issues that disrupted account access for many customers. The bank’s proactive communication and commitment to resolving customer concerns are essential as it works to restore full functionality.
