Bank of America customers report outage, with some seeing $0 balances in their accounts

By Joseph Adinolfi and Weston Blasi

An outage at Bank of America left some of the bank's customers unable to access their accounts on Wednesday, while others saw what they said were erroneous balances of $0, according to a flood of reports on social media

An outage at Bank of America Corp. left some of the bank's customers unable to access their accounts on Wednesday, while others saw what they said were erroneous balances of $0, according to a flood of reports on social media.

Websites like DownDetector showed that complaints about outages started arriving around noon Eastern time. By 1:30 p.m., the site had received nearly 20,000 reports.

Users took to social media to complain about the issue, with several sharing screenshots of their Bank of America (BAC) accounts reflecting a $0 balance.

"My money is gone but conveniently my debt is still there," remarked another X user.

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Bank of America's X account that is specifically dedicated for customer service began responding to some users' posts about seeing $0 balances after being tagged in hundreds of tweets.

A Bank of America representative said the issue had been largely resolved in a statement shared with MarketWatch shortly after 4:30 p.m. Eastern.

"Some clients are experiencing an issue accessing their accounts and balance information today. These issues are being addressed and have largely been resolved. We apologize for any inconvenience," the representative said.

Some Bank of America customers that had accounts showing a $0 balance also said on social media that they could not conduct transactions. Bank of America did not specify if any accounts that were impacted in Wednesday's issues had digital transaction limitations.

The outage comes as just a few months after several other financial-service companies experienced outages in August. Brokerages including Charles Schwab, Fidelity, Vanguard, Interactive Brokers and E-Trade were among the brands with service interruptions, which included customers not being able to access their accounts.

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-Joseph Adinolfi -Weston Blasi

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10-02-24 1746ET

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