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Message
Capital One Banking Systems Down - UPDATE Progress!
Posted on 1/17/25 at 6:53 am
Posted on 1/17/25 at 6:53 am
Yeah I know, Money Talk but this is more about a major bank in the US being down for an extended period of time with no explanation as to why other than a technical issue with a vendor. This "issue" is preventing millions of people and businesses from paying/recieving their paychecks and / or paying vendors, etc. Why is this not a huge media story? Zero people at my company got paid today and the compnay has no alternative way to cut checks.
Capital one has been down since Wednesday afternoon yet they didn't notify their customers about it until a day later in an email. It says:
Valued customer,
Starting Jan. 15, 2025, Capital One began experiencing a disruption in our payment processing and account balance updates, which is due to a technical issue with one of our service providers.
This may have also delayed timely processing of transactions such as wires, ACH, book transfers and loan closing disbursements as well as opening new accounts.
We’re working closely with our provider to resolve this issue and restore processing as quickly as possible. We expect services to gradually begin to return to normal throughout today and the majority of issues to be resolved by tomorrow morning.
We assure you that we are taking this event very seriously and that your accounts remain secure. We sincerely apologize for the disruption and are doing everything we can to address this as quickly as possible.
I work with Big Perm and he is pissed!
Anyone else affected by this?
UPDATE: As of 3:10 PM Today, My company can now see their business accounts online, and all the money is still there! However no transactions are posted after 01/15/25. This is progress and hope that transactions will go through soon!
UPDATE: AS of 5:00 PM Today, People at my company, including myself got our paychecks!
Capital one has been down since Wednesday afternoon yet they didn't notify their customers about it until a day later in an email. It says:
Valued customer,
Starting Jan. 15, 2025, Capital One began experiencing a disruption in our payment processing and account balance updates, which is due to a technical issue with one of our service providers.
This may have also delayed timely processing of transactions such as wires, ACH, book transfers and loan closing disbursements as well as opening new accounts.
We’re working closely with our provider to resolve this issue and restore processing as quickly as possible. We expect services to gradually begin to return to normal throughout today and the majority of issues to be resolved by tomorrow morning.
We assure you that we are taking this event very seriously and that your accounts remain secure. We sincerely apologize for the disruption and are doing everything we can to address this as quickly as possible.
I work with Big Perm and he is pissed!
Anyone else affected by this?
UPDATE: As of 3:10 PM Today, My company can now see their business accounts online, and all the money is still there! However no transactions are posted after 01/15/25. This is progress and hope that transactions will go through soon!
UPDATE: AS of 5:00 PM Today, People at my company, including myself got our paychecks!
This post was edited on 1/17/25 at 5:12 pm
33
Posted on 1/17/25 at 6:54 am to Bazzatcha
Last warning to everyone, use local or regional banks or credit unions.
Cash app lost a suit this morning for $175mm
Protect your assets.
Cash app lost a suit this morning for $175mm
Protect your assets.
This post was edited on 1/17/25 at 6:56 am
Posted on 1/17/25 at 6:58 am to Bazzatcha
Problem #1 - don’t bank with a large institution, find a local credit union or bank.
Posted on 1/17/25 at 7:01 am to Bazzatcha
I work with Big Perm and he is pissed!
Posted on 1/17/25 at 7:01 am to Bazzatcha
(1) your bank sends paychecks day of ?
(2) people love to shout about the "big guys" but the little mom and pop banks just don't have the budget to keep up with the times...
you may think its nice to walk into Podunk Fed and Mr Chuck gives you a loan, but they're probably way behind on their security updates and IT is someones nephew who has another job
(2) people love to shout about the "big guys" but the little mom and pop banks just don't have the budget to keep up with the times...
you may think its nice to walk into Podunk Fed and Mr Chuck gives you a loan, but they're probably way behind on their security updates and IT is someones nephew who has another job
Posted on 1/17/25 at 7:01 am to Bazzatcha
I remember Crapital One letting me know a few weeks ago that Bill Pay was changing and to expect it to be down a few days.
I guess those outages/upgrades are affecting a few more aspects of their business.
But there must be something afoot in the financial sector, I had a credit card not Crapital One whose system was down all day on Wednesday. I couldn’t make a payment, luckily it came back online on Thursday.
I guess those outages/upgrades are affecting a few more aspects of their business.
But there must be something afoot in the financial sector, I had a credit card not Crapital One whose system was down all day on Wednesday. I couldn’t make a payment, luckily it came back online on Thursday.
This post was edited on 1/17/25 at 7:03 am
Posted on 1/17/25 at 7:04 am to Bazzatcha
Hmm I wonder if capital one is one of our vendors. Our data center lost power and the five generators kicked on and kicked off about 5 times.
This all happened on Wednesday afternoon. The UPS system got fried due to the surges. It’s been a cluster frick since then. The top dogs for the contractor that overseas all of that flew in yesterday.
This all happened on Wednesday afternoon. The UPS system got fried due to the surges. It’s been a cluster frick since then. The top dogs for the contractor that overseas all of that flew in yesterday.
Posted on 1/17/25 at 7:12 am to Bazzatcha
Bank Holiday on Monday (MLK day) so if it's not fixed by 4pm Friday, I'm wondering if they can deposit to accounts even if they fixed it over the weekend. it might be Tuesday? before receiving deposits
This post was edited on 1/17/25 at 7:14 am
Posted on 1/17/25 at 7:16 am to Breadcrumbs
quote:
Bank Holiday on Monday (MLK day) so if it's not fixed by 4pm Friday, I'm wondering if they can deposit to accounts even if they fixed it over the weekend. it might be Tuesday? before receiving deposits
bullshite.
Guess which company better lose their holiday if that's the case.
My paycheck is being held hostage right now.
Posted on 1/17/25 at 7:16 am to bubbz
quote:
find a local credit union or bank.
You guys and this shite again. Do you think Morgan City Savings Loan and Feed Store uses some magical in house developed clearance process? No, they use the same top 5 or 10 third parties that everyone else uses.
ETA: Capital One fricked up, and screwed people, as one of the most basic functions of a bank, moving money from A to B, and that's inexcusable. "Big" banks like USAA continue to pay people during government shutdowns if they had direct deposit.
This post was edited on 1/17/25 at 7:19 am
Posted on 1/17/25 at 7:17 am to WhuckFistle
quote:
Hmm I wonder if capital one is one of our vendors. Our data center lost power and the five generators kicked on and kicked off about 5 times.
This all happened on Wednesday afternoon. The UPS system got fried due to the surges. It’s been a cluster frick since then. The top dogs for the contractor that overseas all of that flew in yesterday.
If a power outage can shut down our financial sector, then we are in big trouble.
Posted on 1/17/25 at 7:17 am to Bazzatcha
Ochnser might not have anyone show up to work today.
Posted on 1/17/25 at 7:20 am to Bazzatcha
This is why I keep enough cash to get me by for a month in my gun safe.
Posted on 1/17/25 at 7:20 am to Bazzatcha
I have a CC with them. It’s old and I rarely use it.I paid it on Wed. The payment posted to the CC account but 2 days later it is yet to come out of my checking account
Posted on 1/17/25 at 7:23 am to bubbz
quote:
Problem #1 - don’t bank with a large institution, find a local credit union or bank.
It has it's pros and cons. I know washing checks has been a thing for a long long time but about a year ago, several companies in BR were victims of thieves breaking into drop boxes outside of Post Offices taking their outgoing mail, specifically their checks to employees and vendors. The POS's were able to wash three checks from the company I work for, totalling over 250k before we realized what was going on and cancel the rest of the checks in that batch. After speaking with a BR police detective, he told us that several other companies had the same thing happen to them, including a large crane company in town that was hit for over 1 million dollars. Anyways, after 3 months Capital One did finally reimburse us the money. I told this story to a friend who works at a local bank and she said we were lucky and that their bank probably wouldn't have done that because of how the positive pay feature works.
I say all that to say, when dealing with a large amount of money there are some benefits to working with a larger institution.
Now after this cluster fk of employees not getting paid, I am going to push for us to not keep all our eggs in one basket and at least have a backup account funded with a couple weeks reserves at a local bank.
Posted on 1/17/25 at 7:23 am to Bazzatcha
Anyone think it could be a malware attack? If they can breach the gov sites, banks are easy pickings.
Posted on 1/17/25 at 7:26 am to bubbz
quote:
Problem #1 - don’t bank with a large institution, find a local credit union or bank.
Not a chance. When they can catch up with Chase and others in technology, and not some shitty generic app that barely works with their logo poorly squeeze into a corner, I’ll think about it.
Local banks are generally trash unless you’re a boomer who has to know Sallie behind the desk because it makes you feel important when she calls you by name.
This post was edited on 1/17/25 at 7:26 am
Posted on 1/17/25 at 7:27 am to magildachunks
quote:
My paycheck is being held hostage right now.
You can’t survive a few days?
Posted on 1/17/25 at 7:27 am to magildachunks
quote:
If a power outage can shut down our financial sector, then we are in big trouble.
I don’t know all of the details since they are being tight lipped. But from what I gather, one UPS was replaced a couple of years ago and the other was due to be replaced last year.
Supposedly they took parts off equipment that was going to be deployed later this year to install and get the UPS back up fully.
The 5 generators are still running as of this morning.
Posted on 1/17/25 at 7:28 am to Bazzatcha
CapOne uses AWS extensively. AWS is claiming to not have any outages.
Just successfully logged into Card, so no issues with their Web frontend.
CapOne seethes excellence in everything they do. They are the Co I learned Performance Mgmt from (cutting the lowest 3-5% of associates yearly) back when I was a manager there in the early 2000's. They don't phuck around.
Much ado about nothing IMV.
Just successfully logged into Card, so no issues with their Web frontend.
CapOne seethes excellence in everything they do. They are the Co I learned Performance Mgmt from (cutting the lowest 3-5% of associates yearly) back when I was a manager there in the early 2000's. They don't phuck around.
Much ado about nothing IMV.
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