Bank of America’s website and phone app reportedly began experiencing major outages early Friday.
"Some customers may be unable to access online banking at this time. Your accounts continue to be secure. We are actively working to make our site available again to all of our customers as soon as possible," read a notice on the bank's website.
Beginning a little after 6:00 a.m. website Down Detector started to report notices of outages for mobile banking, online banking and mobile log-in.
The number of complaints peaked at 12,538 around 8:25 a.m. A substantial number of new outages were still being reported as of 9 a.m.
The outages appear to be affecting major cities including Los Angeles, San Fransisco, New York and Seattle.
The bank said no customer accounts have been compromised as a result of the outages.
"All client information remains secure. We are fully addressing and resolving the situation, and many clients can now access with no issues," the bank said in a statement to FOX Business.
Customers took to social media to air their frustrations over not being able to access their accounts on the first of the month.
It is not yet clear what has caused the outages in cities across the U.S.
This is a developing story.