How the Tech Outage Impacted Banks and Finances
A software issue at CrowdStrike had some impacts in the finance world.


A major tech outage impacted a variety of industries and services around the globe on Friday, causing problems for airports, hospitals, and some banks and financial institutions.
The outage stemmed from "a defect found in a single content update for Windows hosts," said CrowdStrike (CRWD) CEO George Kurtz, and was "not a security incident or cyberattack." The update defect meant problems for companies that use Microsoft, and impacts started as early as about midnight Eastern Time on Thursday, according to Microsoft. By early morning Friday, Microsoft had "reports of successful recovery."
Flights were disrupted and some European and Australian television broadcasters had issues going on air, the New York Times reported. 911 systems in a few states went down due to the issue. By late Friday morning, Eastern Time, repairs had begun and the disruptions were being repaired. For those impacted by delayed or canceled flights, there are ways to get refunded.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
There have been concerns about the outage impacting banks and financial service. By and large, though, major financial service in the U.S. have reported they are running operationally, despite concerns for some of the best online brokers and trading platforms.
How banks and finances were impacted by the tech outage
Most major American banking systems and stock trading was largely unaffected by the glitch, but there were some impacts reported.
Charles Schwab posted on its website: "Due to a third-party, global, industry-wide issue, certain online functionality may be intermittently slow or unavailable. We’re actively monitoring the issue. Phone services may be disrupted and hold times may be longer than usual." A Kiplinger employee noted his Schwab account didn't seem to show price changes registering on stocks as of early Friday morning.
"TD was impacted by today's global technology disruption but we can confirm that the majority of our impacted systems, including online banking, have been restored," TD Bank told Kiplinger in a Friday afternoon statement, adding that teams are continuing to monitor the situation. In an earlier statement, the bank recommended customers visit a local TD bank or ATM for immediate banking needs.
Visa has not seen disruptions to its ability to process payments, and systems are operating normally, but it is "aware of reports of people being unable to make payments" and is investing the situation, a spokesperson told Kiplinger. Citizens Bank said in a statement it is "currently experiencing very limited impacts" and that tech teams are "fully engaged" to monitor the system and resolve any issues that come up.
KeyBank told Kiplinger it does not use CrowdStrike internally but is monitoring for impacts on third-party service providers. Raymond James, a Readers' Choice Awards full-service broker favorite, reported to Kiplinger that systems are operating normally. Interactive Brokers told Kiplinger all its systems "are currently 100% functional and operating normally."
Ally Financial confirmed to Kiplinger Friday afternoon that all systems are fully operational. Edward Jones told Kiplinger impacts "have been minimal."
Fidelity said it has not been impacted, and Vanguard told Kiplinger in a statement "there is no current impact to our products or pricing." Citi and Robinhood appeared to be operating normally. Zelle told Kiplinger it is "operating as normal."
A New York Stock Exchange spokesperson told Kiplinger "markets are fully operational."
The London Stock Exchange was running operationally with the exception of its news service, which was not able to publish news, Barrons reported. The service was in the process of repairs as of Friday morning, per Reuters.
Banks in South Africa had disruptions causing people to say they were unable to make payments with bank cards, and Bradesco, a Brazilian bank said digital services were unstable but ATMs were working normally, according to the Associated Press.
Related Content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Alexandra Svokos is the digital managing editor of Kiplinger. She holds an MBA from NYU Stern in finance and management and a BA in economics and creative writing from Columbia University. Alexandra has over a decade of experience in journalism and previously served as the senior editor of digital for ABC News, where she directed daily news coverage across topics through major events of the early 2020s for the network's website, including stock market trends, the remote and return-to-work revolutions, and the national economy. Before that, she pioneered politics and election coverage for Elite Daily and went on to serve as the senior news editor for that group.
Alexandra was recognized with an "Up & Comer" award at the 2018 Folio: Top Women in Media awards, and she was asked twice by the Nieman Journalism Lab to contribute to their annual journalism predictions feature. She has also been asked to speak on panels and give presentations on the future of media and on business and media, including by the Center for Communication and Twipe.
-
Trump Targets Student Loan Forgiveness: Here’s How Taxes and Repayment Could Soon Change
Student Loans The so-called One Big Beautiful Bill and the Trump administration’s executive action are making the future of student loan forgiveness and its tax consequences uncertain.
-
California, South Florida, Long Island, New Jersey: The Places People Are Leaving in Droves in 2025
Skyrocketing costs and shifting priorities mean people are packing up and leaving some cities and states in droves, while others are flocking to more affordable or lifestyle-friendly destinations.
-
California, South Florida, Long Island, New Jersey: The Places People Are Leaving in Droves in 2025
Skyrocketing costs and shifting priorities mean people are packing up and leaving some cities and states in droves, while others are flocking to more affordable or lifestyle-friendly destinations.
-
Should You Start a 'Trump Account' for Your Child?
"Trump Accounts" for kids is part of the One Big, Beautiful Bill that was just signed. Look at if it's worth it for your children.
-
Can You Be a Good Parent to an Only Child When You're Also a Business Owner?
Author and social psychologist Susan Newman offers advice to business-owner parents on how to raise a well-adjusted single child by avoiding overcompensation and encouraging chores.
-
Here's Why Walmart Deals is Better Than Amazon Prime Day
With sales for Walmart Deals and Amazon Prime Day running comparable on price, one factor separates them.
-
How to Get Rid of the Things Your Kids Don't Want While Downsizing
Whether moving by necessity or choice, downsizing means deciding what to do with your stuff. Here's what to do if the kids and grandkids don't want it all.
-
When It's Worth Spending Money on Beauty and Skincare — and When You Can Save
Smart Shopping Experts agree that while you don't have to spend three figures on your products, some higher-priced items have value.
-
How to Find the Best Alternatives to Popular Travel Destinations
You don’t have to bust your budget or battle big crowds to enjoy pristine natural beauty, rich culture, authentic cuisine and more.
-
My First $1 Million: Retired Self-Employed Attorney, 75, Coast of Washington
Ever wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.