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Ken Tumin founded the Bank Deals Blog in 2005, which evolved into DepositAccounts. He has been frequently referenced by The New York Times, The Wall Street Journal, and other publications as a banking expert.


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Bank Websites Hit by Power Outage at Intuit Financial Services

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Many websites of banks and credit unions that are powered by Intuit Financial Services had outages in the last day. Hundreds of small banks and credit unions depend on Intuit Financial Services, a division of Intuit, to run their websites and online banking services. It used to be Digital Insight before Intuit acquired the company in 2007. It's one of the many companies that have been acquired by Intuit, the company famous for its Quicken and TurboTax software.

On November 9th we at DepositAccounts.com detected 65 banks and credit unions powered by Intuit Financial Services offline between 2:00pm and 9:00pm. I personally experienced a problem logging into one of my credit unions last night. I wasn't able to find any notice of this problem at the credit union's website, but I confirmed that its online banking is powered by Intuit.

It doesn't appear Intuit issued any kind of statement about this outage, but several of the banks did. Metropolitan National Bank in Arkansas had the most informative statement:

Metropolitan National Bank’s internet banking provider, Intuit Financial Services, experienced a power outage that is causing all internet banking products and services to be unavailable.

Power is now restored to their data center and they are working to restore internet banking as soon as possible.

Los Angeles Credit Union posted the following message on its Facebook page:

The LAFCU e-branch and website is currently down due to a power outage. We apologize for any inconvenience and appreciate your patience.

Sanford Institution for Savings in Maine also noted its outage on its Facebook page:

Our Online Banking and Cash Management system is offline due to a unexplained power outage at our online banking provider's data center. We hope to have this resolved soon.

I was able to log into my credit union account this morning so it appears Intuit fixed the problem. All account information was up-to-date.

There doesn't appear to be any data breach or data loss issue. So the main issue for customers is the loss of access to their accounts.

Bank website outages have become more common. Just last month Bank of America's website had problems for several days after news of its debit card fees came out.

One lesson for customers is to avoid waiting to the last minute for sending online bill payments or initiating online transfers. Website outages could force you to delay payments.

I would assume the banks and the companies that power their online banking have plenty of backup systems in place to prevent data loss. However, these outages don't help build confidence. How concerned are you? Do you print out transaction confirmation pages and your e-statements?


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