Talk about an unwanted Christmas surprise.
According to reports, the Vanguard Group website has now suffered a partial outage for six days, preventing customers from accessing account information and carrying out transactions.
Mention of the investment firm on Twitter TWTR,
There was a flood of customer complaints—including many who expressed frustration at the inability to speak on the phone with customer-service representatives.
a Platform for Mohra Devotees, called Bogleheads.org after the firm’s founder and former CEO Jack Bogle, includes several posts from customers concerned about the website’s closure. One user noted that they were unable to receive confirmation of the trades they had executed.
an unnamed pawn employee told the Philadelphia Inquirer That Vanguard’s customer service has recently been scrutinized, saying that “our technology has failed.”
Vanguard confirmed the outage to Businesshala and said it was working to minimize disruption.
“Vanguard has been made aware of a service interruption associated with a third-party mailing and check processing vendor,” a spokesperson said in a prepared statement. Vanguard customers and retirement plan participants may experience delayed mailings or may be unable to access certain statements, confirmations or forms through our website.
This is not the first time that the investment firm has experienced website outages and phone problems that have sparked outrage among customers. Three outages have been reported since November 2020, According to financial outlet ThinkAdvisor, During market volatility in 2018, Vanguard customers complained that they could not execute trades online or reach customer representatives by phone. A similar glitch occurred in February 2017, prompting the company to reimburse some affected customers.