Capital One 360 Savings Account $425 Million Settlement
If you held a Capital One 360 Savings account at any time from September 18, 2019, through June 16, 2025, you are set to receive cash — and possibly future interest credits — from a $425 million class action settlement. Payments are automatic, but you must pick an electronic option for awards under $5. Log in to choose or update your payment method today.
Download Claim Form (PDF)Why money is being paid
The lawsuit alleges Capital One N.A. and Capital One Financial Corp. kept interest rates on legacy 360 Savings accounts artificially low while advertising higher-yield 360 Performance Savings accounts and failed to notify existing customers of the better option. Although Capital One denies wrongdoing, it agreed to settle to avoid ongoing litigation costs.
Who is included?
- Every individual or entity that maintained a Capital One 360 Savings account between Sept 18 2019 – Jun 16 2025
- Joint owners and co-holders listed on Capital One’s records are also covered
How much can you get?
Two funds make up the settlement:
- $300 million Cash Fund – distributed pro rata to all class members based on the extra interest they should have earned.
- $125 million Interest Credit Fund – reserved for accounts kept open after Oct 2 2025, paid out as future interest until the fund is exhausted.
Estimated payouts
- Closed accounts (on or before Oct 2 2025): receive a cash payment about 15 % higher because they will not share in future interest credits.
- Open accounts (after Oct 2 2025): receive a cash payment without the 15 % boost plus ongoing interest credits that are at least twice the FDIC national average until the $125 million pool is gone.
No claim form required
You do not need to file anything. Settlement payments will be sent automatically by check or electronic transfer approximately 60 days after the Court grants final approval and all appeals end.
Pick or update your payment method
- Visit the online payment selection page.
- Enter the Unique ID & PIN printed on your mailed or emailed notice.
- Select an electronic payment option (recommended), or confirm your mailing address if you prefer a check of $5 or more.
Need help? Call the Settlement Administrator at 1-888-832-2704.
Important deadlines
- Oct 2 2025 – Last day to opt out of the settlement or select a payment method
- Nov 6 2025 – Final approval (fairness) hearing
- Payments are expected ~60 days after final approval and any appeals are resolved
Breakdown of the $425 million settlement
- Cash to Class Members: balance of the $300 million fund after deductions
- Administrative costs: up to $5 million
- Attorneys’ fees: up to $85 million
- Attorneys’ expenses: ~$1.6 million
- Service awards: up to $10,000 each to 26 class representatives
- Future interest credits: $125 million credited directly to open 360 Savings accounts
Key documents
Frequently Asked Questions
Do I need to file a claim for the Capital One 360 Savings Account Settlement?
No. Eligible account holders are identified automatically through Capital One’s records and will receive payment without submitting a claim form.
How will I receive my settlement payment?
You can elect an electronic payment via the settlement portal or receive a check (only for amounts $5 or more). Payments under $5 require selecting an electronic option.
Will this affect my current Capital One account?
Only in that open 360 Savings accounts after Oct 2 2025 will earn additional interest credits funded by the settlement. Your regular banking services remain unchanged.
What happens if I closed my 360 Savings account?
You still qualify. Closed account holders will receive a cash payment roughly 15 % larger than current account holders because they will not share in future interest credits.
Can I object or opt out of the Capital One 360 Savings Account $425 Million Settlement?
Yes. You must mail a signed exclusion request or objection so it is postmarked by Oct 2 2025. See the Long-Form Notice for full instructions.