Scotiabank’s recent maintenance announcement quickly escalated into a prolonged service outage, impacting many customers’ access to online accounts and essential banking services. Originally scheduled from Friday to Tuesday, the maintenance left numerous users unable to view accounts or make e-Transfers well past the intended timeframe, leading to a wave of online complaints.
By Wednesday afternoon, Scotiabank acknowledged the situation on X, noting “intermittent access” to banking services for some clients, with assurances of ongoing efforts to restore full functionality. This incident follows a similar technical issue over the summer that delayed customer pay deposits, intensifying customer frustration and prompting a proposed class action lawsuit.
Downdetector recorded over 1,500 outage reports at its peak, and a formal complaint was filed by a business account holder unable to access her funds on Nov. 12. Her legal representative, Montreal-based attorney Joey Zurkan, cited “unacceptable” disruptions for business clients who pay fees for banking services. The class action suit seeks damages for affected customers, with additional provisions to address any wrongful fees incurred due to the outage.
Experts say such outages are becoming more frequent due to banks’ reliance on outdated legacy systems. Daniel Tsai, a professor of business and law, explained that maintenance on these older systems can be complex and error-prone, similar to “fixing a Model T Ford.” This incident is another example that may push Canadian banks toward overdue system updates, especially as customers continue to voice their dissatisfaction online.
Source: Swifteradio.com
