Massive Outage Hits Major Canadian Banks, Disrupting Online Banking for Many
Today, Canada’s banking system took a severe hit as all major banks---TD Bank, Scotiabank, CIBC, and RBC—crashed. This unexpected event left millions of customers unable to access their online banking services, disrupting daily financial transactions across the nation.
The digital disruption peaked between 5 PM and 6 PM EST the previous day, with complaints about inaccessible accounts continuing into today. Banking activities such as checking balances, making transfers, and paying bills were suddenly halted, leaving many in a state of financial uncertainty.
TD Bank acknowledged the issue and assured clients that technical support teams were engaged to resolve the problem. The bank has not yet provided a detailed explanation for the outage or an estimated timeline for service restoration.
This isn’t the first time these banks have faced such challenges. A similar incident occurred back in February 2022, where customers were left without online access for hours, impacting not just digital banking but also ATM functionality.
The immediate fallout has been stories of frustration -- from shoppers unable to pay at stores to drivers stranded at gas stations. This event underscores our heavy reliance on digital banking infrastructure and the chaos that ensues when it fails.
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//www.bnnbloomberg.ca/business/company-news/2025/02/06/td-bank-users-report-widespread-outage-on-app-website-thursday-morning/