Bank of America Outage Leaves Customers with $0 Account Balances Nationwide

On October 2, thousands of Bank of America customers faced disruptions when a network outage caused many to see $0 balances or experience difficulties accessing their accounts.

Service interruptions were first flagged around 4:26 p.m. UTC, and by an hour later, nearly 18,000 users had reported issues, according to Downdetector, a platform that tracks real-time outages. Most complaints (about 98%) were related to the bank’s mobile and online banking platforms.

While Bank of America has not made a formal public announcement, the company reportedly informed CNN that most of the issues had been addressed. By 1:01 a.m. UTC on October 3, the bank provided a statement confirming that the “technology issues have been fully resolved.”

However, customer feedback suggested otherwise, with some users indicating the problems persisted. One user, Corey, commented, “Everyone is saying it’s fixed, it’s not!!” Another, Buff Barnaby, added, “Still not fixed been out at least EIGHT hours!”

Frustrations were evident among Bank of America customers, especially those who noticed their balances were wiped to zero, while their debts remained unchanged. One individual expressed their frustration on social media, saying, “My money is gone but conveniently my debt is still there. Bank of America sucks.”

It wasn’t just the mobile app facing difficulties. Some users reported that in-branch services were disrupted as well. “Went to branch and they are not allowing deposits or withdrawals,” tweeted user Kerim. Additionally, while some ATMs allowed cash withdrawals, they would not display account balances, causing further inconvenience.

Amid the chaos, some customers maintained a sense of humor, while others took the incident as an opportunity to advocate for self-custodying assets, particularly Bitcoin. Many pointed to Bitcoin’s reliability, noting that the cryptocurrency has not had a network outage since 2013. In contrast, other blockchains like Solana and Canto have experienced halts in the past year, and some exchanges have been forced to pause operations after hacks.

Despite the widespread technical hiccups, Bank of America’s stock (BAC) remained largely unaffected, trading relatively flat on October 2, according to Google Finance data. Even $338 million in sell orders from Warren Buffet’s Berkshire Hathaway between September 30 and October 2 had little effect on the stock’s performance, as Bloomberg reported.

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