Customers Charged Twice Due to Technical Problems at Capital One

Capital One Financial Corp experienced technical problems on Wednesday at its banking division, which lead to duplicate posting on debit cards for the same transaction for many of its customers.

At the time, the company released a statement that said it was working to resolve this issue as quickly as it can and apologized for any inconvenience. The statement added that customers would be credited for any inaccurate postings that are related to the issue.

Capital One did not give a time frame as to when it expected this issue to be resolved nor did it give any details as to what extent the problem was for the financial institute.

However, customers could continue accessing their accounts and use services via their online banking, branches, automated teller machines and mobile apps. The issue did not involve the credit card division of the company.

The company operates more than 800 branches of Capital One Bank with the majority of them located in New York, Texas, Louisiana, Maryland, New Jersey, Washington, D.C., and Virginia.

The bank’s technical issues do not affect the online 360 bank accounts, just the traditional branch accounts, a statement by a Capital Once spokesperson said early Wednesday evening.

Messages were plentiful on Twitter about the problem by angry customers who complained about the multiple charges for one transaction against their bank accounts.

One customer leaving a Washington, D.C. Capital One branch said that his balance showed a negative $50 in the account, but he thought his balance was at a minimum $1,000. He added that he was not the world’s best financial manager but he does not make mistakes like that.

The man said he was put on hold for more than 50 minutes before an employee at Capital One immediately credited his account with the money that had been erroneously taken out.

Capital One is the eighth-largest bank in the U.S. by deposits and as of the end of September 2017, its last reporting date, had more than $239 billion in deposits with total assets of over $361.4 billion.

Today with changes in technology taking place it seems from one day to the next, it is not surprising when technical glitches occasionally hit any industry. However, the banking industry is much more sensitive when problems occur since it represents the lifeblood for many on a daily basis.

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