This didn’t happen to just a few users but it affected a large number of accounts in the country. Many of these individuals must have access to their accounts to perform payments and live.
Users Cannot Access Bank of America Accounts
A Twitter user affected by this issue claimed that not only Bank of America accounts were down but also ATMs. Meanwhile, BoA didn’t inform anything about the situation. She then asked whether it is time for a new bank.
Perhaps, the best option is to move to Bitcoin (BTC).
— Gina Scarpa (@ginascarpa) October 30, 2019
According to Downdetector, a website that provides information about users’ problems with different services registered more than 9100 problems last night.
Most of the reported problems (73%) were related to online banking, followed by mobile banking (23%). Just 2% of the reports were related to Bank of America’s website.
Tim Fitzsimons, a reporter at NBC News, claimed that he was having trouble accessing his Bank of America account. He added that there were other individuals facing similar issues and very worried about their funds.
Meanwhile, other users claimed they really needed to have access to these funds because they had to buy food and other goods. The bank claimed users’ credentials were not correct.
I am having trouble accessing my @BankofAmerica account, and judging by the volume of alarmed tweets I’m seeing about this right now, so are many other people.
— Tim Fitzsimons (@tfitzsimons) October 30, 2019
While some users considered this was part of scheduled maintenance, others mentioned that the bank would certainly inform that beforehand.
Furthermore, a Twitter user explained she called the bank and they answered “nervously” saying the system was down “all around the country.” She suggested that Bank of America was “definitely hacked.”
The Bank of America Help Twitter account didn’t answer any of the comments and questions users had a few days ago.
Some users that were affected by the current outage at Bank of America started promoting Bitcoin as a solution to these issues.
Remember this next time you can’t take your own money out of the bank:
There is a ₿etter way! pic.twitter.com/WvIovZLR0h
— David Nage🎯 (@DavidJNage) October 30, 2019
Bitcoin seems to be a better solution for individuals to move funds across the globe without being worried about the place in which they are located or the amounts they want to move.
According to Bitcoin Up Time website, the most popular cryptocurrency in the world has been running over 99.98% of the time. The Bitcoin blockchain was down in just two occasions, one in 2010 and another one in 2013.
That means Bitcoin’s last outage took place 6 years ago.
Although Bitcoin could be considered a good solution to these issues, it is worth mentioning that when the network is congested, transactions can eventually take a longer period to be processed.