Bank of America balances showing $0

[NotATether]

https://stacker.news/items/708609

So as you can see in the title, there appears to be yet another glitch in Bank of America, if anybody still uses that, that shows the account balance to be $0.

This is some time after an incident before that where withdrawals were not working across the country.

Some people are even tweeting that they should send out settlement damages for "trauma". LOL.

All this to say, this never happens with crypto. Crypto works 24/7. (Unless you made it centralized on purpose, in that case good luck).

[ABCbits]

That sucks, especially for those who need their money immediately. In addition, looking at https://www.tomsguide.com/live/news/bank-of-america-outage, it seems they falsely claim the problem mostly solved few times while many people still make complaint.

All this to say, this never happens with crypto. Crypto works 24/7. (Unless you made it centralized on purpose, in that case good luck).

Or when you choose centralized coins.

[TomPluz]

Following the unfortunate outages which reduced many accounts to $0, Bank of America released the following statement: “Some clients are experiencing an issue accessing their accounts and balance information today. These issues are being addressed and have largely been resolved. We apologize for any inconvenience.”

Well, apology accepted since the customers really have no choice and would be happy to see the numbers back to where they are before this incident. What happened is not something really unusual with the banking platforms as this similar story also happened before...now it would have better if instead of zero I would be getting a million dollar in my account.

In contract, this can never happen in most of our crypto accounts unless one is not careful and is ignorant of safety measures one must do for protection.

[NotATether]

That sucks, especially for those who need their money immediately. In addition, looking at https://www.tomsguide.com/live/news/bank-of-america-outage, it seems they falsely claim the problem mostly solved few times while many people still make complaint.

Why is it that these banks always have IT problems related to their handling of money? You'd think that as important companies, they would prioritize stability and security, but as most of us know, this is not the case (quite the opposite, in fact - they run stone-age software and have a fear of changing it, they are scared that it might break things.) But things break anyway.

[Baofeng]

That sucks, especially for those who need their money immediately. In addition, looking at https://www.tomsguide.com/live/news/bank-of-america-outage, it seems they falsely claim the problem mostly solved few times while many people still make complaint.

Why is it that these banks always have IT problems related to their handling of money? You'd think that as important companies, they would prioritize stability and security, but as most of us know, this is not the case (quite the opposite, in fact - they run stone-age software and have a fear of changing it, they are scared that it might break things.) But things break anyway.

Lol, there were even some big joke that there balance before the outage is 0, so they are not affected,  .

But seriously though what if you are in the situation that you are going to withdraw for some emergency and you can't because of this glitches and outages on this bank.

So there could be some truth that they could be sue for moral trauma.

As compare in crypto, if you have the keys then definitely you can cash out and withdraw your money anytime.

[Jating]

And from what I research, Bank of America is still silent as to what really happened, as obviously a lot of their customers have been affected by it. They only said that it was just a glitch, however, thousands of their customers have been affected obviously.

It also highlighted crypto again, as we have said if we have it in our wallet, a non-custodial, we will "Be our Own Bank" (BYOB).

[NotATether]

So there could be some truth that they could be sue for moral trauma.

"Moral trauma" is only a thing in the USA. Can only litigate for that reason over there. Other countries do not see it as an acceptable grounds for a lawsuit, and would laugh at you if you tried to sue because of that.

Unless you have almost no money in the bank, you need to either keep a wad of cash or some funds in another account with a different bank.

[Baofeng]

So there could be some truth that they could be sue for moral trauma.

"Moral trauma" is only a thing in the USA. Can only litigate for that reason over there. Other countries do not see it as an acceptable grounds for a lawsuit, and would laugh at you if you tried to sue because of that.

Unless you have almost no money in the bank, you need to either keep a wad of cash or some funds in another account with a different bank.

Yeah, but who knows though, every one who think that they could get some money out of something like in this case, could file and see how it goes.

And the their justice system has loopholes, if no one is going to file case, then for sure the government might handed them and be fine for this supposedly glitch in their system.

[NotATether]

Yeah, but who knows though, every one who think that they could get some money out of something like in this case, could file and see how it goes.

And the their justice system has loopholes, if no one is going to file case, then for sure the government might handed them and be fine for this supposedly glitch in their system.

The thing is, most people in the US will still find it pretty hard to sue Bank of America, because you'd have to suffer damages in order to stand a chance of having a legal victory.

Unless someone was denied life-saving care, or ransom, because they couldn't withdraw money from their account in a matter of minutes or hours, most of these people haven't really suffered any kind of damage at all. Just inconvenience only.

Businesses on the other hand.... have many payment deadlines and could run into a lot of landmines with this sort of glitch, so would have a lot to sue them for.

[Z-tight]

Crazy stuff, i first read about this on social media, and there have been a lot of memes and jokes people have made about this since today, lol. It shows again that any funds you have in a centralized system is just numbers, they can halt withdrawals anytime, and even file for bankruptcy, just as centralized exchanges do a lot of time.

[Lucius]

If we're going to be honest, many people in the crypto world have problems with their crypto wallets/accounts sometimes showing $0, whether it's because some hacker emptied their wallet on CEX, or the same thing happens to them in a non-custodial wallet.

Also, the balance may show $0 if the wallet is not synchronized, if we entered the wrong seed or if we chose the wrong derivation path. With all that, "crypto" works 24/7/365, except in the case when you can't access your CEX, you don't have internet or you forget your pass to the non-custodial wallet.

I would just conclude that not everything is as it seems, although we may think that everything is great in the crypto world.

[Faisal2202]

https://stacker.news/items/708609

So as you can see in the title, there appears to be yet another glitch in Bank of America, if anybody still uses that, that shows the account balance to be $0.

This is some time after an incident before that where withdrawals were not working across the country.

Some people are even tweeting that they should send out settlement damages for "trauma". LOL.

All this to say, this never happens with crypto. Crypto works 24/7. (Unless you made it centralized on purpose, in that case good luck).

LOL, BTW, it's really a trauma I mean, the whole country was not able to withdraw funds, and I wonder how the country would be reacting to it. I saw a video (I don't know if it was of China) but the people did not have any cash on them and they were 100% dependent on finance apps and there was no electricity in their area so they were so desperate to buy electricity from a seller (who was selling via generator).

The point is, the world is now so dependent on digital finance they don't have access to money, and even in the BTC or crypto case, I think things can go down like if there were no electricity or internet in all over the world then in such apocalypse crypto can go down otherwise it won't like banks go down or go under maintenance.

[Zed0X]

~
Why is it that these banks always have IT problems related to their handling of money? You'd think that as important companies, they would prioritize stability and security, but as most of us know, this is not the case (quite the opposite, in fact - they run stone-age software and have a fear of changing it, they are scared that it might break things.) But things break anyway.

It's probably because they are a protected business. Aside from the few lawsuits (or none at all) every time problems like this happens, they can just file bankruptcy when things gets worst (like emptied vault from hacking) and they will be bailed out.

[PX-Z]

https://stacker.news/items/708609
Some people are even tweeting that they should send out settlement damages for "trauma". LOL.

What do you expect lol most karen-like attitude in america do this, sue here and there where they can benefit as much money they can.

When it comes to glitch, there's nothing the users could do or the IT peeps as they are relying on some cant controllable third party tools and services too, e.g. servers, power interruption, etc. as long it didn't happen too often like once a week regularly, i guess that's fine, well, depends on the people:s understanding too.

[bitterguy28]

This is some time after an incident before that where withdrawals were not working across the country.

Some people are even tweeting that they should send out settlement damages for "trauma". LOL.

it is funny but in reality this is such an inconvenience and i am sure after they solve the problem many would and should take their money and place it somewhere else because you cannot trust unreliable and inconsistent platforms who can say how many times this will happen again?

All this to say, this never happens with crypto. Crypto works 24/7. (Unless you made it centralized on purpose, in that case good luck).

that depends if you use centralized exchanges they get problems too and the funds get lost just use platforms that gives you full control of your coins or money whatever happens with your funds is on your hands