Capital One $425M Settlement: Who Qualifies, Payouts, and Timing

If you had a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, you are likely eligible for a share of the Capital One $425 million settlement, with no claim form required and payments scheduled to go out on or about July 27, 2026.¹² U.S. District Judge David J. Novak granted final approval of the deal on April 20, 2026.³

Who Qualifies

The settlement class covers anyone who held a Capital One 360 Savings account at any point from September 18, 2019, through June 16, 2025. Joint and co-holders are included in the class, but payment goes only to the primary accountholder listed on the account.⁴

Anyone who filed a valid opt-out request by the March 30, 2026, deadline is excluded and will not receive a payment.¹

How You Get Paid

No claim form is required. Eligible accountholders are automatically slated to receive a payment.¹

For payments of $5 or more, a check will be mailed to the last known address on file unless the accountholder elected electronic payment. Payments under $5 are issued only to accountholders who chose electronic delivery by the March 30, 2026, deadline.¹

When the Money Arrives

Payments are scheduled to go out on or about July 27, 2026, assuming no appeal is filed. If an appeal is filed, distribution will be delayed until the appeal is resolved.²¹

How Much You Can Expect

Payments are not a flat amount. Each person’s share is calculated based on the approximate additional interest they would have earned during the class period if their 360 Savings account had received the 360 Performance Savings interest rate. The figure depends on how long the account was open and the account balance during the relevant period.⁵

Several deductions come off the top of the $425 million fund before distribution:

$32 million in attorney fees plus more than $1.8 million in expenses for class counsel.⁶
$10,000 service awards to each of the 26 class representatives.³
Notice and administration costs.⁴

Any funds left over after distribution will go to Feed More, a Richmond, Virginia-based food bank.³

Separately, and not drawn from the fund, Capital One agreed to align interest rates on 360 Savings accounts with 360 Performance Savings rates going forward, beginning no later than 14 days after the settlement’s effective date. The bank must maintain both account types for at least two years.⁴

What the Lawsuit Was About

The case concerned two Capital One savings products. The older “360 Savings” account, which Capital One acquired from ING Direct in 2012, had once been marketed as having “one of the nation’s highest savings rates.”⁷ In September 2019, the bank launched a nearly identical “360 Performance Savings” account and steered new customers to it while leaving existing 360 Savings holders in the lower-paying product.⁶

By 2024, 360 Savings accounts were capped at about 0.3% interest while 360 Performance Savings accounts earned as much as 4.35%.³ Plaintiffs alleged that Capital One deceptively marketed the older product and never told existing customers about the higher-paying alternative. Capital One has denied any wrongdoing.⁴

Checking Your Payment Status

The settlement is administered by Epiq. You can check payment status or update your information at capitalone360savingsaccountlitigation.com or by calling 1-888-832-2704.¹

The administrator may ask for the last four digits of an eligible 360 Savings account to verify your identity. It will never ask for a Social Security number or Employer Identification Number. Treat any request for that information as a scam.¹

Not the Same as the 2019 Data Breach Settlement

This settlement is unrelated to the earlier Capital One class action over the 2019 data breach that exposed personal information of more than 100 million customers. That case was finalized in September 2022, and payments were issued in 2023 and 2024. All payment activity for the data breach settlement is complete, though identity defense and restoration services remain available through February 2028.⁸ If you are expecting money from the $425 million deal, that is the 360 Savings interest-rate case, not the breach.

1
Capital One 360 Savings Account Litigation. In Re: Capital One 360 Savings Account Interest Rate Litigation
2
NBC New York. Are You Eligible for Capital One’s $425 Million Settlement
3
Virginia Business. Judge Approves $425M Capital One Settlement
4
Capital One 360 Savings Account Litigation. Frequently Asked Questions
5
Kiplinger. The $425 Million Capital One Settlement
6
Virginia Lawyers Weekly. Judge Approves $425 Million Capital One Settlement
7
The New York Times. Capital One Savings Interest
8
Capital One Settlement. Capital One Data Breach Settlement