Millions of Capital One customers are set to receive a share of a massive $425 million class-action settlement in 2025. The case centers on claims that the bank failed to give older 360 Savings account holders the same interest rates it offered on its newer 360 Performance Savings accounts.
If you had a Capital One 360 Savings account in recent years, you could be entitled to a cash payment — automatically, without filing a claim. Here’s a full breakdown of eligibility, payout amounts, and payment dates for the Capital One settlement.
Why Is Capital One Paying $425 Million?
The lawsuit, titled In re: Capital One 360 Savings Account Interest Rate Litigation, alleged that Capital One did not raise interest rates for older savings accounts even as it launched new ones with better yields.
Without admitting wrongdoing, the bank agreed to pay $425 million to settle the case, with funds distributed as:
- $300 million in direct cash payments to affected customers.
- $125 million in additional interest for those who keep their accounts open.
The settlement was reached to resolve years of complaints and bring fairness to long-time savers.
Who Qualifies for a Payment?
You’re likely eligible if you:
✅ Held a Capital One 360 Savings account (not the 360 Performance Savings) at any time between September 18, 2019, and June 16, 2025.
✅ Are a current or former Capital One customer in that period.
✅ Have a valid mailing address or online access to receive updates.
No claim form is required. Capital One will automatically identify eligible users and process payments based on account records.
Payout Options & Estimated Amounts
How much you receive depends on your account type and whether you keep it open:
| Account Status | Payout Type | Estimated Amount |
|---|---|---|
| Account Closed by Oct 2 2025 | One-time cash payment | ~15 % higher payout |
| Account Still Open | Smaller cash payment + extra interest | Varies by balance |
Payments are calculated based on how much extra interest you could have earned if Capital One had applied the higher rate to your 360 Savings account.
For balances under $5, payouts will be made electronically only. Larger payments can be sent as checks or direct deposits.
Important Settlement Dates
| Date | Event |
|---|---|
| October 2, 2025 | Last day to update payment info or close your account for the higher payout. |
| November 6, 2025 | Final court hearing for approval of the settlement. |
| Late 2025 – Early 2026 | Payments expected to be distributed once approval is finalized. |
How to Check Your Eligibility
- Visit the official settlement website: capitalone360savingsaccountlitigation.com
- Enter your Claim ID and PIN (sent by email or mail to eligible customers).
- Choose your payment method — direct deposit or check.
- Confirm your contact information before the deadline.
Tip: Keep your bank account open until after payment is issued to avoid delays.
If You Still Have a 360 Savings Account
Customers who maintain active 360 Savings accounts will continue earning additional interest payments funded by part of the $125 million pool. You can switch to the 360 Performance Savings account after receiving your settlement payment if you prefer a higher ongoing rate.
When Will Payments Arrive?
Payments will begin after the final approval hearing on November 6, 2025, assuming no appeals delay the process. Most customers can expect deposits or checks by late 2025 or early 2026.
If you opted for electronic payment, you’ll likely receive funds sooner than those waiting for paper checks.
Stay Safe – Avoid Scams
⚠️ Only use the official website listed above.
⚠️ The settlement administrator will never ask for your full Social Security number or password.
⚠️ Ignore unofficial websites or messages claiming faster payouts.
Need Help?
For questions about your eligibility or payment:
📞 Helpline: Listed on the official settlement site
🌐 Website: capitalone360savingsaccountlitigation.com
✉️ Administrator: Capital One 360 Savings Settlement Administrator
Conclusion
The Capital One $425 million settlement offers long-time savers long-awaited compensation. If you held a 360 Savings account anytime from 2019 to 2025, you’re likely on the automatic payout list — no form needed.
Check your details, confirm your payment method, and get ready for your share when payments start rolling out later in 2025.
