Bank of America customers report $0 balances amid outage

Thousands of Bank of America customers faced a network outage on October 2, resulting in many seeing $0 balances in their accounts.

According to reports, the issues began at 4:26 PM UTC, with nearly 18,000 complaints within an hour, primarily concerning the mobile and online banking platforms.

Although Bank of America stated that the outage was “largely resolved,” some users expressed frustration, claiming the problem persisted.

According to a Downdetector user, "Still not fixed, been out at least eight hours."

Another user pointed out, "My money is gone, but my debt is still there."

The outage affected more than just mobile access.

One customer shared on social media that their local branch was not accepting deposits or withdrawals.

Others reported that ATMs displayed incorrect balances but allowed cash withdrawals.

The incident caused anxiety for many customers, some of whom used the situation to criticize traditional banking systems.

Some Bitcoin supporters highlighted this as a reason to consider self-custody and pointed to Bitcoin’s uptime since 2013.

One user remarked, "This is why Bitcoin is superior—no outages."

Despite the glitch, Bank of America's stock price remained steady, unaffected by the outage.

However, reports indicate that Warren Buffet’s Berkshire Hathaway sold $338 million worth of Bank of America shares between September 30 and October 2.

This sale, along with the outage, sparked additional concerns.

As of now, Bank of America has not provided an official explanation for the cause of the outage, though many users continue to report issues.