Capital One 360 Savings Account Class Action Lawsuit 2025 Payout Date, $425M Settlement Final Approval April 20, 2026—No Claim Form Required
Capital One’s revised $425 million class action settlement received preliminary approval on January 13, 2026, with a final approval hearing scheduled for April 20, 2026. No claim form is required—eligible customers will receive automatic payments, with distributions expected to begin within one to two months after final approval, likely May or June 2026.
What the Capital One 360 Savings Account Settlement Involves
The settlement resolves claims that Capital One froze interest rates at 0.3% on “high interest” 360 Savings accounts while quietly offering rates above 4% to new customers on similarly named 360 Performance Savings accounts. The case is known as In re: Capital One 360 Savings Account Interest Rate Litigation, filed in the U.S. District Court for the Eastern District of Virginia.
This represents one of the largest consumer banking settlements in recent history, joining other major Google Class Action Lawsuit $700 Million Settlement cases that have held financial institutions accountable for deceptive practices.
When Will Capital One Settlement Payments Be Distributed?
The court scheduled a final approval hearing for April 20, 2026. If the judge grants final approval at that hearing, the settlement administrator will begin processing payments. Customers should expect to receive payments in the following month or two after final approval, meaning most eligible customers will likely see their money arrive between May and June 2026.
Electronic payments via direct deposit will arrive faster than mailed checks. If you’ve previously provided Capital One with direct deposit information, that’s how you’ll receive your payment unless you update your preference.
Who Is Eligible for the Capital One Class Action Settlement?
The settlement covers all individuals or entities that maintained a Capital One 360 Savings account at any time between September 18, 2019 and June 16, 2025, including joint account holders. If you held a 360 Savings account during this period—even if you’ve since closed it—you’re automatically part of the settlement class.
You don’t need to prove you were harmed or that you lost a specific amount. Your eligibility is determined solely by Capital One’s account records showing you held a 360 Savings account during the class period.
How Much Money Can You Receive from the Capital One Settlement?
Under the revised settlement, Capital One will pay $425 million to 360 Savings depositors, less fees and expenses. Your individual payment amount depends on several factors including your average account balance during the class period, how long you maintained the account, and the total number of valid claims.
The previous agreement allocated $300 million in restitution and $125 million for elevated interest rates. The new deal allocates all $425 million for direct payouts to compensate account holders for interest they missed out on. This means eligible customers will receive larger individual payments than under the original proposal.
Additionally, Capital One agreed to raise the interest rate on its 360 Savings account to match the yield on its 360 Performance account, providing ongoing benefits worth an estimated $530 million according to depositors’ lawyers.
How to Access Your Capital One Settlement Payment—No Claim Form Required
Step 1: Verify Your Eligibility Automatically
The settlement administrator uses Capital One’s account records to identify eligible class members. You don’t need to take any action to prove eligibility. If you held a 360 Savings account between September 18, 2019, and June 16, 2025, you’re automatically included.
Step 2: Update Your Payment Method (Optional But Recommended)
You are strongly encouraged to choose to receive your Class Cash Payment electronically. Here’s why: customers whose settlement payout is less than $5 must elect to receive payment via electronic means to get a rebate—checks under $5 won’t be mailed.
Visit the official settlement website at www.capitalone360savingsaccountlitigation.com to select electronic payment. The settlement administrator will never ask for your Social Security Number or Employee Identification Number. Be cautious of scam websites claiming to handle settlement claims.
Step 3: Ensure Your Contact Information Is Current
While no claim form is required, you should verify Capital One has your current mailing address and contact information. Log into your Capital One account or contact customer service to update your details. This ensures you receive official settlement notices and payment without delays.
Step 4: Watch for Official Settlement Communications
Settlement notices will be sent out to consumers between now and the April hearing date. All legitimate communications will come from the official settlement administrator or through verified Capital One channels. Never respond to unsolicited calls, texts, or emails requesting personal information or upfront fees.
What You Must Know About the Capital One Settlement Before April 2026
Why the Original Settlement Was Rejected
In November 2025, Judge David Novak rejected the initial settlement, blasting the agreement as “neither reasonable nor adequate”. He said the deal would likely only compensate account holders for less than 10% of the potential interest they lost.
The judge also noted that Capital One continues to pay a lower rate to 360 Savings customers and argued that the bank still hasn’t made proper efforts to notify savers that they could switch accounts and earn a higher rate. This criticism led to the revised settlement with better terms for customers.
How the Revised Settlement Improved Compensation
Instead of the earlier split approach, Capital One would pay $425 million to class members once the new settlement becomes final and would also match and tether the interest rate paid on 360 Savings to the interest rate paid on 360 Performance Savings for at least two years.
This structure addresses the court’s concerns by providing immediate cash compensation and preventing future interest rate disparities. For current 360 Savings account holders, the interest rate matching provision offers substantial ongoing value beyond the one-time payment.
Beware of Settlement Scams
Similar to other major $4M Numotion Data Breach Class Action Settlement cases, scammers target Capital One settlement recipients. Remember:
Legitimate settlement administrators never request upfront fees to process your claim. You should never pay money to receive settlement money. Any communication requesting payment is a scam.
Official settlement communications come only from www.capitalone360savingsaccountlitigation.com or verified Capital One channels. Call 1-888-832-2704 if you need to verify whether a communication is legitimate.
Frequently Asked Questions About the Capital One Settlement Payout
When Will I Receive My Capital One Settlement Payment?
The final approval hearing is scheduled for April 20, 2026. If approved, payments typically begin within one to two months, meaning eligible customers should receive payments between May and June 2026. Electronic payments arrive faster than mailed checks.
Do I Need to File a Claim Form for the Capital One Settlement?
No. The settlement administrator states clearly that no claim form is required. Settlement class members are automatically eligible to receive a Class Cash Payment from the settlement fund. This differs from many class action settlements that require claim submission.
Where Can I Access the Official Capital One Settlement Website?
The official settlement website is www.capitalone360savingsaccountlitigation.com. You can also call the settlement administrator at 1-888-832-2704. Only use these official channels to update payment preferences or verify your eligibility.
How Much Money Will I Get from the Capital One Settlement?
Your payment amount depends on your average account balance, how long you held the account during the class period, and the total number of valid claims. The settlement totals $425 million, less fees and expenses. Individual amounts will vary, with calculations based on recognized claims processed by the settlement administrator.
What Happens If I Had a 360 Savings Account But Closed It?
You’re still eligible if you held a 360 Savings account anytime between September 18, 2019, and June 16, 2025. The settlement covers both current and former account holders during the class period. Make sure the settlement administrator has your current mailing address.
Can I Opt Out of the Capital One Settlement?
Yes, you can exclude yourself from the settlement by submitting a written opt-out request. However, if you opt out, you won’t receive any settlement payment and must pursue your own lawsuit independently if you want compensation. Most class members choose to remain in the settlement.
Does Capital One Admit Wrongdoing in This Settlement?
Capital One neither admitted nor denied any allegations while agreeing to the settlement. The bank settled to avoid further litigation costs and provide resolution for affected customers. The settlement does not constitute an admission of liability.
Last Updated: January 25, 2026
Disclaimer: This article provides general information about the Capital One class action settlement and is not legal advice—individuals should consult qualified attorneys specializing in consumer protection or class action litigation for case-specific guidance.
Don’t miss your settlement payment. Update your contact information and payment preferences at the official settlement website before the April 20, 2026 final approval hearing to ensure you receive your compensation without delays.
Stay informed, stay protected. — AllAboutLawyer.com
Sources:
- In re: Capital One 360 Savings Account Interest Rate Litigation, No. 1:24-md-03111-DJN (E.D. Va.)
- Official Settlement Website: www.capitalone360savingsaccountlitigation.com
- U.S. District Court Eastern District of Virginia court orders and settlement approval documents
- New York Attorney General press releases on Capital One settlement
About the Author
Sarah Klein, JD, is a licensed attorney and legal content strategist with over 12 years of experience across civil, criminal, family, and regulatory law. At All About Lawyer, she covers a wide range of legal topics — from high-profile lawsuits and courtroom stories to state traffic laws and everyday legal questions — all with a focus on accuracy, clarity, and public understanding.
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