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Bank Of America Site Down For Third Day In A Row
Well this is starting to get a tad disturbing. When BofA gets its site up, it would be very helpful if it could please notify its clients how much of the $1 trillion in deposits as of June 30, 2011 it has left as of end of close today?
h/t @rbgran
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We're sorry, but we understand all the Sheep and Lemmings withdrawing your money asap online.
Just connect a little used NYSE fiber optic and dedicate a data center until the flush is completed.
Perhaps this is why EDD funnels unemployment benefits to Californians and others through BofA. Another way to support the Bank. Same with JPM/Chase in Texas and Illinois. Keep money flowing in while regular working stiffs take their meager earnings to local community banks.
Tyler, will you have someone find out "who" made the decision to bestow this largess through these banks and what, if any, process was involved. Does Wells Fargo get a shot? BONY?
Surprised at how people are not surprised to see the biggest retail bank in the country not allowing its customer access to their money online.
Anyone try to withdraw a large sum (> 10000.00) in cash from a retail branch of BOA, if yes, did you have any issue with liquidity....
Hey Tyler.. the topic you posted yesterday SPX/VIX 2008 vs 2011 was mentioned on strategy session (CNBC) without taking your name..
The same thing occurred when the bank runs happened in the UK in 2007. All the banks going down the toilet "couldn't get their websites working".
This looks like the beginning of the end for BoA.
India had a major bank downgraded by Moodys
Moodys Downgrades State Bank of India
What shocked me was that one of India's most powerful and largest banks was downgraded, get this, from C- to D+!!!!
What more proof does one need that the India story is just so much bull-poop.
And in India Net banking is a mini-niche. ATMs are the growth industry for banks. I'm sure we will see pain in ATM withdrawls when the contagion hits here.
And for all the poor folks stuck with BOA, go to the branch and get the money out.
A sand pile slips on a dime and a micro-second.
ORI
Hoaxed and Thoughts
Those plagiaristic CNBC scumbags!
BofA hasn't been down for three days straight, I was able to log in yesterday to check out my credit card account.
If I had more than $250K on deposit with them, something like this would make me very very worried.
Oh yeah, because 250K or less is guarenteed. I would deposit more into BoA. That makes perfect sense. [Says while getting remaining balance from ATM.]
do you trust federal deposit insurance? its only 16% funded
if the need arises, tim will supply the rest, there's absolutely no doubt about that
sure if you dont mind waiting a year to get reimbursed
Don't kill me, but my bank is BofA. Yesterday I logged into BofA's website, by going to the "continue on-line banking' link, and after a small delay, I was able to see my accounts, no real trouble.
I also went to the ATM to withdraw a pile. There was only one guy I had to wait for, but in the time it took to withdraw, 8-10 people had lined up behind us. Yep, it's a run on the bank for sure. I believe I will go to the ATM every day until most of my money is outta there. Or maybe just go withdraw 10K and have to pay the fees...
We don't need to kill you, you are already dead!
I guess at least three of them read this blog and will hopefully be giving credit where credit is due soon.
They are not real journalists without naming sources, they would also be given an immediate FAIL in any college course for not properly citing sources. Those central media planning goofs don't want people to start to think for themselves and figure out the TRUTH.
Open...for Deposits only.
LMAO
I'm in Vancouver. I went to the TD bank last week to withdraw 8,000.00 in hundred dollar bills and they asked me if I had made a request for the funds and that they didn't have what I wanted so I had to go back the next day. I'm now moving everything to credit unions as a result of this
By the way when Bernanke was questioned about credit card rates (30%) compared to credit union rates (15%) he looked like he just saw a ghost, He went silent and them mumbled something about the consumer should be fully aware of the rates their banks are charging them. This little byte should be put on YouTube for all to see. Bernanke loves us. We are the 99% and the 1% are soon to see the guillotine
That's pretty normal at most retail banks in Canada. They don't usually have a whole lot of cash on them, and also have to look at cash flow needs for other clients throughout the day. In Japan, I remember taking out like 20k from my Bank's ATM, and getting 40k from the bank teller was also no problem at all. They love cash over there.
Long time BoA customer. Did pull out a lot, diversifying into another bank (or a few).
Had to visit the actual bank to do it of course, first time in a decade. No liquidity issues at all.
Yes
I went to the bank to draw down $3500 for a coin show so I could by PM's and the teller couldn't pay me in all 100's. She had to give me 1K in 100's and th rest in 20's . Since then I have withdrawn another $1000 in cash and held in my safe n case of further issues. Just transferred some serious cabbage back to my brokerage account in case BOA has issues. Going to go to a local credit union and setup an alternative account
Bank of (El Norte de) America. The preferred bank of illegal aliens. F BAC. Go die now.
Dear Customer, we regret the inconvenience, Mr. Buffet is clearing the last remaining pennies.
Nothing instills confidence like locking, and barring your online doors while screaming "No one's home!" from inside.
http://abcnews.go.com/blogs/politics/2011/10/durbin-to-bank-of-america-c...
Senator Durbin Calls for a Run on BAC due to $5 monthly debit fee...
Maybe he reads ZH?
This is to be directly appropriated to equity purchases of BAC -- put the floor in at $5 while gutting their savers (again). Win-win.
I hate BAC but if a Republican senator did this they would be removed from office. This is outrageously irresponsible by scumbag Durbin.
Just some BOA operational suggestions and observations from California.
I moved a fair amount of money out of BOA these last days - over $70,000. Could not use website all weekend to even check balances - red flag.
All branches do not have enough cash in the branch vault to handle the volume of withdrawals. They will claim they have to order it and it will take 2-3 days to get there. This is bullshit. But this is life under this bankster-fascist regime.
The lines are long, probably because its the first week of the month, etc. But I also saw a lot of people waiting in line to withdraw $200 from their accounts because the ATMs were empty and the website is down.
Do not close your account when taking your money. Just ask for a cashier's check for the majority of your account's money. If you have multiple acocunts, consolidate the balance into one of them and then take it from there. Establish the fact that you have lawful access to all your accounts first. If it is under $5,000 they will likely give you cash if you demand it.
Take a cashier's check payable to yourself and then have the teller direct the supervisor to order the face value of the cashier's check for you to cash in 2 days (or whenever they feel like give you your money - bullshit). At least you have a record for the OCC that you had the rightful access to your money.
Go back the next day (2-3) and cash your check. Expect the whole CTR/SAR process. Be nice and then walk our of that fook'in bank with your money.
Why is any of this necessary? Fook'in banksters.
My wife has had a BoA acct for a long time. She has direct deposit and it would take 2-3 extra days to post to her account. She finally listened to me and switched banks. Her pay now is available (literally) 2-3 days earlier than it was with BoA. We've emptied the acct by transfers/ATM withdrawals but haven't closed it. I'm looking forward to the close acct conversation.
Well said bankonzhongguo ... I had to visit 2 branches to get an amount of around 20k. and spend a total of 1.5 hrs in those banks "waiting at the counter" trying to get my own Money..
Not allowing online access since Sat.. something is fishy.. If it was allowed.. I would have transferred money online.. to someother bank but your idea of a cashiers check makes sense...
I work in finance IT (no it's not BofA). This is unprecendented to lose web connectivity (even off and on) for this long. These are critical systems and your IT teams should be able to handle everything within a half day, max. There should be mirroring/redundancies to make sure this kind of thing didn't happen more than once. After the 1st day, you could bet that a bunch of people would be out the door for f---ing up this badly...if it were truly an "oops". Now, if it's not a mandate to, ahem, "discourage" withdrawals, or an internal sabotage (don't make your programmers angry), then I have to think that there are some outside forces causing these issues. Take your pick on who: Lulz/Anon, govt agency, other competitors, etc.
My own experience was that the BofA staff seemed unhappy, and in turn didn't make banking there pleasant, so I closed my accts with them long ago. As for going into any bank, I think anything more than the amount of a paycheck will make their panties bunch if you are asking for cash. Anecdotally, I heard that banks would only have enough cash to handle about 3% of their deposits. So take that into account. It's easy to stash 10-20% of a paycheck at home in cash each pay period. Get off depending on the ATM card.
.
Merrill Lynch is waiving transaction and trading feeds for us this month to keep us on as clients.
its running slowly, not down! ZH please correct.
I don't mean to jump the thread. Frankly, I normally just lurk and seldom post. However, being in the Internet industry the past 15 years, I know a thing or two about managing traffic levels and the analytics that go with it.
According to the press and the bank's statements, they are saying that they are having problems, because of massive traffic to their website. I question this as the sole reason.
Most companies are set up to handle spikes in traffic. When I say "spike", it generally means a XXX% or more increase above and beyond a normal range. The bigger the website, the better and more scalable their infrastructure should be to handle such situations, especially given that there is seasonality associated with the banking industry, e.g. Christmas shopping season.
I did a little research, using some of the publicly available website traffic analysis tools that are available in my industry. While all of them do show a recent increase in traffic, the increase is in the low double digits, not a triple digit increase.
http://www.quantcast.com/bankofamerica.com/
http://siteanalytics.compete.com/bankofamerica.com/
http://www.alexa.com/siteinfo/bankofamerica.com#
Furthermore, most companies, when suffering from online service delivery problems, are able to quickly add spare capacity and resolve the problem within minutes or hours...not days. They usually have extra servers on site, in the server room, waiting for deployment, for just such situations.
I just find it hard to believe that an experienced, online company can go down and stay down for 3+ days, because of a double digit increase in traffic. Anyway, I thought the data might add some value to the conversation.
To be clear, I am not insinuating something sinister. I simply find it hard to believe that their IT team is that incompetent.
Just to add support to the comment, I too have had to deal with hi-load web sites and maybe you go down for a few hours because you got caught unprepared, but there are lots of ways to fix that and the rest of the time things are slow or twitchy and that's it. No need for "Opps we bad" greetings that effectively lock everyone out.
And this is a BANK, during a financial crisis. What the actual fuck are they playing at? The IT guys are either out-to-lunch in a big way, or being told to hang back and let the mob disperse.
Yesterday I pulled out a bunch of money from BoA and opened an account with another bank. So, that's what I think of the mess, make of it what you will.
Thanks for the validation. The only thing I have there is a credit card. Maybe Tyler can chime in on his experiences with massive traffic spikes. As I remember, the worst he had to deal with was a less than 24 hours outage, because of a move to a whole new database system that when wrong.
thanks for that mr savings... and you wade in here amongst the loonies any time you like...
Don't apologize....and feel free to be sinister.
Thanks for that info.
I've worked in IT my entire career, with a short stint at Nations Bank before they were bought by BAC, and many companies of similiar size. You have to understand that all the components, network, applications, database, operating systems, application servers, web servers, are mostly outsourced overseas. The different components could even be managed by different companies in different countries. There is no dedicated, motivated, cohesive team of people doing adequate capacity planning and operational support. If a problem occurs, the first task is to point fingers and open problem tickets directed to some other team. The second task is to go to lunch. The bank's IT systems are an incomprehensible mish-mash of all the smaller banks that were acquired. The real talent left years ago. All that is left is low-paid overseas technicians and those who don't give a shit and hope the company dies as much as we do.
...28 days later - zombie banks infect the populace and the looting thus begins.
I don't get it. How does any of this impact Amanda Knox?
>SNARF!<
great
now i have to google who the hell amanda knox is
Even with her "baggage" you would.
I heard BofA swapped Amanda for some close relative of her's with unusual name Fort. While she flies back to the US, Fort is shipped in opposite direction. Never heard of him, but they say he holds some barbarous relic that Europeans are after. Weird people.
I started to realize something was wrong when the SSC was cancelled back in the early 90's.
Clinton singlehandedly decided America's demise with that action. Combine that with his repeal of Glass-Steagall and you get the picture.
Now the Tevatron has been shut down.
That's a crystal clear signal of what's ahead.
Hey Ahmeenxal, interesting you bring up the Tevatron.
What do you think it's shutting down portends? Earthquake on the way?
ORI
Not to butt in, but isn't it pretty much obsolete now due to the LHC? Why keep it running?
America's demise was sealed, along with just about every other nation on earth, when the fractional reserve banksters were able to convince (i.e. bribe, blackmail or otherwise coerce) the legislative/executive branches of government to 'untie' money creation from having to be backed by anything of inherent value (and that is also finite, meaning that money can't be continuously and forever diluted).
Bank run bitchez!
If it were truly a run, wouldn't people just go to the local branch vs. waiting around for days for the website to function properly?
No my friend, in a post-modern society of fat&lazy american couch potatoes, a bank run looks exactly like this ;- )
I agree there. When I pay with Federal Reserve Notes the cashiers seem to confused. It seems as if you can't swipe it, it doesn't exist. Pushing the sheep to a 100% digital currency is a closer reality than I want to admit.
It's not a bank run, it's a bank waddle.
See my post below. You get free banking with an online only account and are charged nearly $9 to see a teller.
I've been with the same regional bank for about 20 years and they just started that crap last week under the guise of going green/paperless - $7 fee to deal with a teller or receive a paper statement, etc. Pissed me off, going with a local credit union. The good news is that even though I'm in a pretty small town, we have an Occupy Wall Street protest being organized. We only have one large national with a big branch here. That super extra wide sidewalk area in front that they were allowed to show off their grandness will make a nice roomy area for a protest.
I can't imagine why any reader of ZH would have an account at one of the big national banks. That amounts to feeding the monster. Credit unions did not participate in the fraudulent-house-price-boom. Credit unions are owned by the members. Credit unions are the way banking should be, and could be again, when the Federal Reserve dragon is slain.
It's the "Durbin bank run", named after the man (biologically anyway) who suggested on the floor of the Senate that everybody "get the heck out of that bank." Even though it started last week he'll still get the credit for bringing BOA down in the history books.
That's probably more good than most senators do in their careers.
Certainly more than Durbin ever has. What a corrupt nothing. If you saw him floating in your pool you'd slap your dog.
"slap your dog" Is that cuffing your carrot or slappin' the captain? Just askin'.
Dirty Dick is the Chicago Machine guys' "bank reform" front.
not to worry...China will go down too...
5 days in a row - Friday through Tuesday
tried to warn the sheeple where i work to get their money out. but they say I'm a crazy, dont know what I'm talking about, and BAC will never crash. One even said he was thinking of buying BAC cuz Bove said its undervalued
HAHAHAHAHAHA
Warren's baby needs a diaper.
False- I did online transactions on both Saturday and Sunday.
Yeah, I've been having trouble since Friday. You can continue through to online banking but service is spotty.
It looks like it is working if you click on the part that says
"Otherwise, you may continue to Online Banking."
as you appear to have done TD.
Yeah there are no pretty red white & blue photos on the home page but most can get by without that.
Indeed, having clicked on it, the result was a time out on the subsequent page.
i couldnt log in, im stuck in an infinite loop of login screen ----> page is slow -----> login screen ----- page is slow ------> etc
I was able to login and see my accounts late last night. This must be a DOS attack or something.
Probably should go and close out the accounts at the teller window at this point. But where do I put my money? Give it to Jaime "that's anti-American" Dimon? Ally (GMAC in disguise)? Bank of Vikram? They're all crooks. Suggestions welcome (i.e., where do you bank?)
my mattress
Logged on OK. No delay. Yesterday it took several attempts.
Same -- staring @ my balance right now. (Logged in @ 1300 EDST)
money in the mattress and fucked at the bank...irony is a funny thing.
mason jar buried in the back yard
Closed my BOA accounts about two years ago. Switched to another large bank that starts with a "P" and have two credit unions...
You got any credit unions nearby?
I do not have a bank account anymore at first I did not think it would work ouy but now , fuck banks we dont need them.
Local credit union... 3% interest on the first $25000 in checking. Free everything.
thanks! Will check around.
I would think BAC has a system similar to that of Amazons EC2 network (Elastic Infrastructure where bandwidth expands as demand grows). Such system would be make a DDOS attack very hard/impossible. Until BAC can tell us wth is going on, this very supicios and a dirty tactic from their part.
You can start a search pretty easy with these two sources. I have had pretty good luck. I found a nice small gem in NYC mid-town. I was at Citi and said by by about 4 years ago after they tried to tack on some BS fees.
http://www.bankrate.com/rates/safe-sound/ssPromo.aspx
http://www.weissratings.com
Has anyone on ZH had issues with these rating services?
FDIC also has reports if you like that sort of thing.
https://cdr.ffiec.gov/public/ManageFacsimiles.aspx
I had to do some digging for find these links. Not sure why they would be buried. Good luck.
Why the fuck r u banking with them u dumb fuck!
it's just a small checking account w/ less than 2K in it. Mostly for bill pay. Just too lazy to change over all the automated billing stuff. No need to get hostile.
Tyler Durden is right.. clicking on the continue to online banking site.. allows you to enter the online UID/pwd.. but the page load is very slow... and sometimes just crashes.. thats not to say that no one can acces the website..my friend who opened an account in NC was able to access his account.. but me and one other friend from NY/NJ accounts could not.. maybe this is being experieced state/account specific..
but not being able to rectify this error inside of a few hrs speaks a lot about BOA's probably non existing disaster recovery plan... having worked in Project Management sector for Investment Banks.. I can say this should be a major issue requiring escalation and remidiation inside of a day. 4 days makes my previous Auditor had smell something fishy and see Smoke...
It seems to work OK in the evening. I was able to get in and do my bill pay stuff last night which is pretty much all I use the account for now. Savings are local bank and their online stuff is a pain in the ass as I have to call the site admin directly to get a password reset. Now that's small town banking.
Why do you deal with these f*cking criminals and what kind of ZH'er are you??
Why? Becasue the service they provided with online bill pay is good. Now not so good becasue their site is down during the day. Their link between ML and BOA was almost an instant transfer.
The only reason I use them at all NOW is for their bill pay becasue my local small banks suck. There is no if's and and buts about it - they suck. They suck but I will put up with them and the post office.
If it makes you any happier I have moved 6 figures out of BOA / ML this year. So that makes me one of the people who will actaully make a differnce by moving more than $500 out of their influnce. They don't want or need the majority of their customers as most of their customers have less than $1000 bucks in their a/c. So if you had or ever had an account with BOA they probably don't care that you stormed in grabbed some loose change.
If you base value on your comfort and convenience, you will be given paper and like it. Do you get it yet?
For the love of God. You presume to know who I am based on one statement? I guarantee I am better prepared than you. I am willing to bet that if you have a passport you only have one passport and it's issued by Uncle Sam. I am willing to bet you have no clue how to get your money and run if necesary. I am willing to bet you have no idea where you would run to. So climb down from your little pedastal you have erected for yourself and take stock of how prepared you are.
I'm ready and if BOA goes down tomorrow I won't give a fuck about the couple of thousand bucks I keep there for paying bills. Thanks for caring though.
u too r a loser fuck for banking with them!
I have a crappy little BofAnus acct with a few straggling bucks in it that I never closed. Note: I was just able to log in and view, once past the initial stumbling block screen.
Well.. close the fucking account u lazy ass!
love the abuse!
don't stop being you my sweetie pie
If someone would explain how to post a image I would show that I just logged into the website...
Confirmed. Have seen all kinds of interesting pages like gateway timeouts and such. Similar but not as scary bad as during their upgrade and integration of the MBNA accounts a few years back. I think this is due to a flash integration and UI upgrade. Perhaps they are busy adding a donate deposit button.
donate was struckthrough on my edit screen
Nope...just sits there and times out for me. Useless banking system now.....
Hmmm... what to do... I'm so fucking stupid, i can't wipe my own ass!
I was actually able to get in the Online Banking link - look at my credit card information and even apply some rewards points to my bill. Just CC with BAC - no money in there ;-)
thats impossible.......this should be front page news............SERIOUSLY !
It is on ZEROHEDGE...
What are you getting your news from, the mains? LOL
Why would the legacy media want to report a bank run? What is in it for them? Every report by our media is backed by some motive. They are not disinterested purveyors of Truth as they would like you to believe. Supporting Liberty, Free Markets and Sound Money are not included in the motives of our leftist educated jurnos. Ninety percent of our journalists want to see the Occupy Wall Street revolutionaries bring the French Revolution to America and end this 23 decade experiment in Liberty. Guillotine anyone?
Although I agree that the media is the 4th branch of government, I would take issue in the length of the liberty experiment.
I think that ended in 1913.
pods
1913 is certainly a deserving date. Then again the end of the noble liberty experiment could perhaps trace its origins a bit earlier to say......1861-ish?
I think you are correct.
pods
You guys light like this:
LETTER TO CAPTIVES : EDRIVERA.COM
ORI
Actually the enemies of Liberty began working for this outcome sometime in 1789 shortly after the Constitution was ratified. The road to where we are has been long and the battle to avoid arrival at this place has been filled with many COMPROMISES. We are one or two "bipartisan" compromises away from Tyranny and perhaps the next round of serious blood letting.
All of BAC's web maintainence division employees are in the teller line withdrawing their personal funds...please stand by.
LMAO, nice one.
Now that was funny!
How valuable are those digits if they wont let you access them?
Priceless...your comment that is, not the digits. Carry on.
That would certainly make me feel safe and secure about keeping money there.
BAC goin' down in more ways than a $5k/night hooker knows how.
BAC in the saddle again.
BAC goin' down in more ways than a $5 a night hooker will allow
No doubt they're just implementing their new patented system of launching ads your way, depending on the state of your balance.
Will it also offer employment opportunities for attractive girls with very little money?
Cool story Hansel
Everbank.com
The Bank of America is down . . . kind of says it all, won't ya say?
I thought Andrew Jackson shut down the Bank of America.
Let me know when the real Bank of America goes down, aka The Fed.
do they charge $10 a month to use the site?
Broke BAC Mountain (of Debt)
Gimme my money BAC!!!!!!
I logged in and went to my account almost immediately. Like I've been telling you guys for days now: NO PROBLEM.
See you tomorrow.
ok red neck repugnicunt... er.... lookingwithamazement... er.... libertarian blah blah.. can't keep track of all of the socks...
YOU ARE A LIAR. PLANTED, LIKELY PAID SHILL. I HAVE ACCESS TO ISPs ALL OVER THE COUNTRY AND THE SITE IS UNRESPONSIVE FROM EVERY SINGLE FUCKING ONE OF THEM.
That is not the same guy, and he is certainly not a paid shill.
Just because he got really lucky and was able to log in doesn't mean much of anything.
I was also able to login and check my accounts late last night. But I can't login now, timeout.
You all come on ZH and you know BofA is going to collapse but you all still have an account with them , you can't fix stupid
$0.01 account balance, request multiple copies of paper forms.
Much lulz to be had, in theory.
Of course, anyone keeping money in ANY bank that is not for bills for the current pay period is stupid, as you say.
MASSIVE fail in awareness here - I'm honestly shocked at how many long term posters here are this freaking lazy on this subject. Parking monies at TBTF banks, letting them use those digits to continue to prop up this system???
Credibility Gap dudes.
I was able to login to my BAC account... I did receive the notice about the site running slowly, but when I clicked continue I was allowed to access my account.
Then again, I don't bank with those fraudsters... just one account, an auto loan. so doesn't bother me if they implode.
They don't want to give deposit accounts access. Fractional reserve lending accounts? Come on in.
Could not log on Saturday or Sunday, but have had no problem logging on Mon afternoon or this morning via the "continue to Online Banking" link I took all my cash outta there 2 years ago but they have my underwater mortgage and a whopper CC balance that I used to buy physical gold (buffalos) at $1120 an oz, I am not paying any interest yet, kinda hoping to see the sucker go under before I pay them back a dime.
Jump! You Fuckers!
I logged in AGAIN and went to my account almost immediately. Like I've been telling you guys for days now: NO PROBLEM.
Getting tired of wet nursing you clowns.
See you tomorrow.
See, I am one of the guys "operating" such sites - given in acces/transactiions.
Such overloads (no access) come from either:
pure incompetence (technical level)
or
"hell freezes over"
Go and figure.
IT departments are a waste of money, anyway. It's better for profits to outsource management of the technical infrastructure to Manila.
are you from GS?
Hell no. I wait tables.
I'm one of the guys who heard this from "management" when my industry died a decade ago.
(Folks got no sense of humor.)
So this explains why there has also been a run on Depends.
"on" or "in"?
What type of thong does an 80 year old hooker wear? Depends.....
OT: Will Slovakia bring down the monster CDO? They were the only one who refused to fund Greece in the bail out #1. I hope they have the balls to tell the suicidal eurofanatics to suck it.
They should implement a $5/month fee for online banking.
The end will come like this - in the dark.
When the sun comes out it will be shined on all except the troglodites hiding in their holes.
JMP is the elephant and will dictate the view of what is "right" and "wrong" without looking the mirror.
take the day off go into a branch and withdraw your cash it will be the one of the best pay days youve ever had
Oh well, guess I can't pay my mortgage. Suck it