How to Claim Your Share of the $425 Million Capital One Settlement—and When to Expect Payment
See if you qualify for a piece of the $425 million Capital One settlement—and how to get it
Key Takeaways
- Current and former 360 Savings customers from 2019 to 2025 may be eligible.
- Payments to impacted Capital One customers will be sent this summer.
- The Capital One settlement also forces the bank to raise customers' interest rates.
Have you ever had a high-interest savings account with Capital One? If so, you may be entitled to a portion of a massive payout! This week, a judge approved a $425 million settlement in a lawsuit filed against the banking corporation in 2025 and Capital One is now paying some customers restitution money. You could be one of them if you have ever had a Capital One 360 Savings account! Find out below how to get your Capital One settlement money and when you can expect your payment.
Who qualifies for the Capital One settlement payout?
If you are a current or former Capital One 360 Savings account holder, you may be eligible for part of the payout. In order to qualify, your account must have been active between September 18, 2019 and June 16, 2025.
The reason for the 2019 date? In September of that year, Capital One launched a similar “360 Performance Savings” account option that paid more interest than the other account. But the bank didn’t inform current customers they could make the switch, and many were confused about the differences between the two offerings.
That lack of transparency caused those customers to miss out on extra money they would have otherwise earned. Now, the settlement ensures anyone impacted receives fair compensation.
Capital One settlement amounts: How much will you get?
Like many other settlements, your portion of the payout will largely depend on the number of affected customers who qualify for money. In other words, fewer eligible individuals means higher amounts because the $425 million won’t be divided between as many people.
But that’s not the only component impacting your payout. The settlement also states that the amount you receive will be based on how long you had your account and how much money was available during that time. Those who had been with Capital One for all or most of those years can assume they’ll receive a larger payment.
How to claim your Capital One settlement payment
Ready for the best part? No action is required to receive your portion of the $425 million settlement! As long as you meet the eligibility requirements, the payment will automatically be sent to you.
If you didn’t select an electronic payment method by the March 30 deadline, you will receive a check in the mail if the amount is $5 or higher. (But if you did not sign up for electronic payment and your payout is less than $5, the money will be forfeited, reports CBS News.)
The settlement website states that money is expected to be sent out on or around July 21, 2026, so be sure to check your mailbox or savings account after that time!
Bonus: Capital One is raising interest rates
There’s yet another reason for impacted Capital One customers to celebrate! The settlement also calls for the bank to raise the interest rate on its 360 Savings account to match that of the 360 Performance account.
This new agreement means customers will start reaping the same benefits as the other account holders without having to move their money. Essentially, the payout is meant to provide people with the money they lost while the increased rates ensure they are earning a fair amount in interest moving forward.
For more information on the newly approved deal, visit the settlement website here.
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