Days Left: How To Claim Capital One's $425 Million Settlement

The deadline to choose your payment method is October 2, 2025. If you held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, you may be entitled to compensation from this massive settlement. Time is running out—here’s everything you need to know to claim your share.

What You Need to Know Right Now (Quick Summary)

Settlement Amount: $425 million

Deadline: October 2, 2025 (to choose payment method)

Who Qualifies: Anyone with a 360 Savings account (not 360 Performance Savings) between Sept. 18, 2019, and June 16, 2025

Do You Need to File a Claim? Affected customers do not need to submit a claim form to receive compensation, but you DO need to choose your payment method by October 2, 2025.

Final Approval Hearing: November 6, 2025, at 11:00 a.m. Eastern Daylight Time

Capital One Owes You Money: What This Settlement Is Really About

If you’re wondering why Capital One is paying out $425 million, the answer is simple: the lawsuit claims Capital One pulled a bait and switch on savings account customers by advertising the 360 Savings account as its high interest savings account and later froze rates on that account at 0.3% while rates on its newer, similarly-named 360 Performance Savings account soared.

The Allegations: What Capital One Did Wrong

According to the class action lawsuit, Capital One failed to raise interest rates on its 360 Savings accounts despite raising rates on its 360 Performance Savings accounts.

Here’s what allegedly happened:

2019 and Earlier: Capital One heavily marketed its 360 Savings account as a “high-yield” savings option with competitive interest rates. The account was promoted as one of the bank’s premier savings products.

The Switch: Capital One allegedly failed to raise interest rates on the 360 Savings account commensurate with rates paid on the 360 Performance Savings account, deceptively marketed the 360 Savings account, and concealed that 360 Savings was no longer Capital One’s high-yield online savings product.

The Impact: While the newer 360 Performance Savings accounts earned significantly higher interest rates (sometimes 10-20 times higher), customers with the original 360 Savings accounts saw their rates frozen at rock-bottom levels—as low as 0.30% APY.

What Makes This Worse: Many customers had no idea they were missing out. The massive settlement seeks to resolve claims the bank misled customers by keeping older savings accounts at low interest rates. Capital One allegedly didn’t actively inform existing 360 Savings customers that better rates were available through the Performance account.

Capital One’s Response

Capital One has denied any wrongdoing but agreed to the $425 million settlement to resolve the claims. Capital One, which has denied any wrongdoing, has agreed to pay $425 million to settle the claims.

Days Left, How to Claim Capital One's $425 Million Settlement – Capital One Owes You Money

Am I Eligible? Who Qualifies for the Settlement

Primary Eligibility Requirements

You’re eligible for compensation if:

You have or had a Capital One 360 Savings account at some point between September 18, 2019 and the date the judge approves the settlement

Important Clarifications:

✅ You QUALIFY if you had:

A Capital One 360 Savings account (the original product)
An account open at ANY time between Sept. 18, 2019, and June 16, 2025
Either an individual OR joint account
An account that’s currently open OR one you’ve already closed

❌ You DO NOT QUALIFY if you only had:

A Capital One 360 Performance Savings account
A different type of Capital One account (checking, credit card, etc.)
An account opened after June 16, 2025

Special Considerations

If You Closed Your Account: You still qualify! The settlement covers both current and former 360 Savings account holders.

If You Had Multiple Accounts: You may receive separate payments for each eligible account.

If You Had a Joint Account: Both account holders are eligible for compensation.

If You Converted to 360 Performance: If you converted your 360 Savings account to a 360 Performance Savings account during the eligible period, you still qualify for the time you held the 360 Savings account.

How Much Money Will I Get? Understanding Your Payout

The Two-Part Settlement Structure

The $425 million settlement will be paid out in two ways: $300 million will be used to pay immediate cash settlements, with the remaining $125 million designated for additional interest payments.

Option 1: Closed Account Holders (Larger Immediate Payout)

If you’ve already closed your 360 Savings account or choose to close it before October 2, 2025:

What You Get: Those who have already closed their 360 Savings account (or who do so before October 2, 2025) will receive a 15% larger payout than those who keep the savings account open

Payment Structure: The amount depositors receive will depend on how long their accounts were active, and totaling what they “would have earned if their 360 Savings account(s) had paid the interest rate then applicable to the 360 Performance Savings account”

Minimum Payment: Paper checks are only issued if your payout is $5 or more

Option 2: Current Account Holders (Smaller Payout + Ongoing Interest)

If you keep your 360 Savings account open after October 2, 2025:

What You Get:

An initial cash payment (approximately 15% less than closed account holders)
Additional interest payments going forward (you will not need to file a claim for these)

Additional Interest Details: Capital One will pay this additional interest to class members who maintain their 360 Savings accounts. Account holders who have closed their accounts or choose to close them before Oct. 2, 2025, will not receive the additional interest payments

How Your Individual Payment Is Calculated

Your specific payout amount depends on several factors:

Primary Factors:

Duration: How long you held your 360 Savings account during the class period (Sept. 18, 2019 – June 16, 2025)
Balance: Your average account balance during that time
Interest Differential: The difference between what you actually earned and what you would have earned at 360 Performance Savings rates
Account Status: Whether you keep the account open or close it

Payment Formula: Payouts will be determined based on interest differentials multiplied by a to-be-determined value

Realistic Expectations: What Others Are Receiving

While individual payments vary significantly, here’s what you should know:

Range of Payments:

Minimum: Payments under $5 will not be issued as checks
Average: Estimated payments range from tens to hundreds of dollars for most account holders
Maximum: Long-term account holders with higher balances may receive significantly more

Factors That Increase Your Payment:

Longer account duration during the class period
Higher average account balance
Keeping your account during periods with the largest rate differentials

Step-by-Step: How to Claim Your Capital One Settlement Money

The Good News: You’re Automatically Included

Affected customers do not need to submit a claim form to receive compensation. Capital One has your information and will automatically process your payment.

What You MUST Do by October 2, 2025

Even though you don’t need to file a claim, you DO need to select your payment method:

Step 1: Visit the Official Settlement Website

Go to: www.capitalone360savingsaccountlitigation.com

⚠️ SCAM WARNING: As the Settlement Administrator, we will never ask for your Social Security Number and/or Employee Identification Number. If that information is requested, it is not a request from us

Step 2: Verify Your Eligibility

The website will ask you to:

Provide basic account information
Optionally provide the last 4 digits of your eligible 360 Savings account as an extra step in verification for electronic payment selections

Step 3: Choose Your Payment Method

You have three options:

Option A: Direct Deposit (Fastest)

Funds deposited directly into your bank account
Fastest payment method
Requires providing bank account information securely
Deadline: October 2, 2025

Option B: Venmo Payment

Payment sent to your Venmo account
Fast and convenient for Venmo users
Requires valid Venmo account information
Deadline: October 2, 2025

Option C: Paper Check (Slowest)

Only issued if your payout is $5 or more
Mailed to your address on file
Takes longer to receive and process
If you don’t choose, you may still receive a check by default (if over $5), but electronic options are faster

Step 4: Confirm Your Selection

After choosing your payment method, you’ll receive confirmation. Keep this confirmation for your records.

What If You Miss the October 2 Deadline?

If you don’t select a payment method by October 2, 2025:

You’ll still receive payment (if eligible and over $5)
Payment will likely default to paper check
Processing may take significantly longer
You won’t lose your right to compensation

Special Situation: Keeping Your Account Open

If you’re keeping your 360 Savings account open:

For Your Initial Payment: You still need to choose a payment method by October 2, 2025

For Additional Interest Payments: Those who keep their 360 Savings accounts open after Oct. 2 will also receive “additional interest payments,” but will not need to file a claim for them

These additional interest payments will be automatically deposited into your 360 Savings account over time.

Important Dates and Deadlines You Can’t Miss

Critical Timeline

October 2, 2025 – PAYMENT METHOD SELECTION DEADLINE Deadline to choose your method of payment

This is your last chance to select direct deposit, Venmo, or paper check. Missing this deadline means you’ll likely default to the slowest payment option.

October 2, 2025 – OBJECTION & EXCLUSION DEADLINE The deadline for exclusion and objection is Oct. 2, 2025

If you want to exclude yourself from the settlement or object to its terms, you must act by this date.

November 6, 2025 – FINAL APPROVAL HEARING November 6, 2025, at 11:00 a.m. Eastern Daylight Time Final Approval Hearing

The court will review and potentially approve the settlement. After approval, payments can begin processing.

After November 6, 2025 – PAYMENT DISTRIBUTION Payments will be provided only after any issues with the Settlement are resolved. Please be patient

Expect payments to begin distributing in late 2025 or early 2026, with electronic payments arriving before paper checks.

Frequently Asked Questions About the Capital One Settlement

Do I have to file a claim to get money?

No. Affected customers do not need to submit a claim form to receive compensation. However, you should select your payment method by October 2, 2025, for the fastest processing.

How do I know if I had a 360 Savings account vs. a 360 Performance Savings account?

Check your old account statements or contact Capital One customer service. The account name should be clearly listed. To qualify, you need to have had a 360 Savings account — not a 360 Performance Savings account.

If you’re unsure, visit the settlement website and verify your eligibility using your account information.

What if I moved and Capital One doesn’t have my current address?

Update your contact information:

Visit the settlement website: www.capitalone360savingsaccountlitigation.com
Call the settlement administrator: 1-888-832-2704
Provide your updated mailing address before October 2, 2025

Can I opt out of the settlement?

Yes, but you should carefully consider this decision. The deadline for exclusion and objection is Oct. 2, 2025.

If you opt out, you won’t receive any settlement money, but you preserve your right to sue Capital One independently. For most people, participating in the settlement is the better option.

Should I keep my 360 Savings account open or close it?

This is a personal decision that depends on your circumstances:

Close Your Account If:

You want a larger immediate cash payment (approximately 15% more)
You don’t need a Capital One savings account
You can get better rates elsewhere

Keep Your Account Open If:

You want to receive ongoing additional interest payments
You value the convenience of keeping the account
You want to try to calculate whether those additional interest payments outweigh the estimated 15% cut to your class action settlement payout

Will this affect my taxes?

Settlement payments may be considered taxable income. You should consult with a tax professional about your specific situation. Capital One or the settlement administrator will likely provide tax documentation (such as a 1099 form) if your payment exceeds IRS reporting thresholds.

What if I never received a notice about the settlement?

You may still be eligible. Not all class members receive direct notice. If you believe you qualify:

Visit the settlement website immediately
Verify your eligibility using your account information
Select your payment method before October 2, 2025

How long will it take to receive my money?

Payment timing depends on several factors:

Electronic Payments (Direct Deposit/Venmo):

Likely to arrive first, potentially within weeks after final approval
Fastest option for receiving funds

Paper Checks:

May take several months after final approval
Subject to mail delays

Payments will be provided only after any issues with the Settlement are resolved. Please be patient

What happens to unclaimed money?

If there are Unclaimed Amounts from checks that are not cashed or from checks or electronic payments that are undeliverable, those funds will, in Class Counsel’s discretion, be either redistributed pro rata to Settlement Class Members or added to the amount of Additional Interest that Capital One will pay to existing 360 Savings accountholders

Can I get more information about my specific payout amount?

While exact payout amounts won’t be known until after final approval and calculation, you can:

Visit the settlement website for general information
Call 1-888-832-2704 to speak with the settlement administrator
Review the detailed settlement documents available on the website

Is this settlement related to the Capital One data breach?

No. This is a completely separate settlement. The Capital One data breach settlement involved different claims and has its own separate process. If you were affected by both issues, you may be eligible for both settlements.

What if I have questions or need help?

Official Settlement Resources:

Website: www.capitalone360savingsaccountlitigation.com
Phone: 1-888-832-2704
Review FAQs on the settlement website

For Legal Advice: Consult with a qualified attorney if you have specific legal questions about your rights or the settlement terms.

Should You Keep or Close Your 360 Savings Account?

This is one of the most important decisions you’ll make regarding the settlement. Here’s a detailed breakdown:

The Math: Comparing Your Options

Option 1: Close Your Account Before October 2

Advantages:

Receive a 15% larger payout than those who keep the account open
Get all your money upfront
No obligation to maintain the account
Can move funds to higher-yield savings accounts elsewhere

Disadvantages:

Will not receive the additional interest payments
Miss out on potential long-term benefits
Account closure is permanent

Option 2: Keep Your Account Open After October 2

Advantages:

Receive “additional interest payments” going forward
Potential for long-term value if additional interest is substantial
Maintain banking relationship with Capital One
Convenience of keeping the account

Disadvantages:

Initial payout approximately 15% smaller
Additional interest amounts are not yet fully defined
Must maintain the account to continue receiving benefits

Factors to Consider in Your Decision

Your Current Interest Rate Needs: Compare Capital One’s current 360 Savings rates with other high-yield savings accounts. If you can get significantly better rates elsewhere, the 15% larger immediate payout might be more valuable.

Your Banking Habits: If you actively use Capital One for other banking needs, keeping the account open might offer convenience benefits beyond the settlement.

The Unknown Variable: Whether those additional payments outweigh the estimated 15% cut to your class action settlement payout remains to be seen. This uncertainty makes the decision more complex.

Liquidity Needs: If you need cash now, the larger immediate payout from closing your account is more valuable than future interest payments.

What Financial Experts Suggest

Most financial advisors recommend:

Calculate your expected payout: Estimate what 15% more would mean in actual dollars
Compare current rates: Research what you could earn with that money in a high-yield savings account elsewhere
Consider your timeline: How long do you plan to keep money in savings?
Factor in convenience: Is there value in maintaining your Capital One relationship?

For many consumers, if the 15% difference represents a meaningful amount (more than $100), taking the larger immediate payout and moving funds to a competitive high-yield account may be the better financial choice.

Protecting Yourself from Settlement Scams

Red Flags to Watch For

As with any major settlement, scammers are attempting to exploit unsuspecting consumers. Here’s how to protect yourself:

NEVER Provide:

Your Social Security Number or Employee Identification Number (the Settlement Administrator will never ask for this)
Full bank account numbers via email or phone
Payment to “process” your claim
Personal information to unsolicited callers

Only Trust:

The official website: www.capitalone360savingsaccountlitigation.com
The official phone number: 1-888-832-2704
Communications clearly identifying the settlement administrator

Common Scam Tactics

Email Phishing: Scammers send emails claiming to be from Capital One or the settlement administrator, requesting immediate action or personal information.

Phone Scams: Fraudsters call claiming you need to “verify” information or “activate” your settlement payment by providing sensitive details.

Fake Websites: Scammers create websites with similar URLs to the official settlement site to harvest personal information.

How to Verify Legitimacy

Before providing any information:

Independently verify you’re on the correct website
Look for secure connection indicators (https://, padlock icon)
Cross-reference information with official settlement documents
When in doubt, hang up and call the official settlement number directly

What Happens Next: Timeline and Expectations

Immediate Steps (Before October 2, 2025)

Week 1: Verify Eligibility

Visit the official settlement website
Confirm you had a 360 Savings account during the class period
Gather any relevant account documentation

Week 2: Make Your Decision

Decide whether to keep your account open or close it
Consider the 15% payout difference vs. additional interest
Evaluate your personal financial situation

By October 2: Select Payment Method

Choose direct deposit, Venmo, or paper check
Submit your selection through the official website
Save confirmation for your records

Post-Deadline Timeline

October 2, 2025: Payment method selection deadline passes

November 6, 2025: Final approval hearing at 11:00 a.m. Eastern Daylight Time

Late November/December 2025: Court issues final approval order (if approved)

December 2025/January 2026: Settlement administrator begins processing payments

Electronic payments (direct deposit/Venmo) distributed first
Paper checks mailed shortly after

Early 2026: Most class members should receive their payments

Ongoing (for open account holders): Additional interest payments begin for class members who maintain their 360 Savings accounts

Potential Delays

Payments will be provided only after any issues with the Settlement are resolved. Potential delays could result from:

Appeals of the settlement approval
Technical issues with payment processing
Challenges to settlement terms
Administrative complications

Be patient and check the settlement website regularly for updates.

Beyond This Settlement: Your Consumer Rights

Other Capital One Settlements

Capital One Data Breach Settlement: If you were affected by the 2019 Capital One data breach (separate from this interest rate issue), you may also be eligible for that settlement. Visit www.capitalonesettlement.com for more information.

Protecting Yourself Going Forward

Monitor Your Accounts: Regularly review your savings account interest rates and compare them to market rates. Don’t assume your bank is giving you the best rate automatically.

Read the Fine Print: Understand the terms and conditions of your savings accounts, including how and when interest rates can change.

Stay Informed: Sign up for account alerts and notifications. Banks should notify you of significant changes, but it’s your responsibility to stay informed.

Shop Around: Don’t be afraid to move your money to institutions offering better rates. Online banks and credit unions often provide more competitive interest rates than traditional banks.

Know Your Rights

Under the Truth in Savings Act, banks must:

Clearly disclose interest rates and annual percentage yields (APY)
Provide accurate information about account terms
Notify customers of significant changes to account terms

If you believe a financial institution has violated your rights, you can:

File a complaint with the Consumer Financial Protection Bureau (CFPB)
Report issues to your state’s attorney general
Consult with a consumer rights attorney

Legal Resources and Additional Information

Official Settlement Resources

Primary Settlement Website: www.capitalone360savingsaccountlitigation.com

Settlement Administrator Hotline: 1-888-832-2704

Written Inquiries: Check the settlement website for the administrator’s mailing address

Consumer Protection Agencies

Consumer Financial Protection Bureau (CFPB): www.consumerfinance.gov Submit complaints about financial institutions

Federal Trade Commission (FTC): www.ftc.gov Report fraud and scams

Your State Attorney General: Most states have consumer protection divisions that handle banking complaints

Legal Assistance

If you need legal advice about the settlement:

Contact a consumer rights attorney in your state
Many attorneys offer free consultations for class action matters
Legal aid organizations may help if you meet income requirements

Class Counsel Information

The attorneys representing the class can provide information about the settlement. Contact information is available on the official settlement website.

Key Takeaways: What You Must Do Now

Immediate Action Items (Before October 2, 2025)

✅ Verify Your Eligibility Check if you had a Capital One 360 Savings account between September 18, 2019, and June 16, 2025

✅ Visit the Official Website Go to www.capitalone360savingsaccountlitigation.com

✅ Select Your Payment Method Choose direct deposit, Venmo, or paper check by October 2, 2025

✅ Decide on Your Account Determine whether to keep your 360 Savings account open or close it

✅ Update Your Contact Information Ensure the settlement administrator has your current mailing address and contact details

✅ Save Your Confirmation Keep documentation of your payment method selection

What to Remember

📌 You don’t need to submit a claim form, but you DO need to select your payment method

📌 The October 2, 2025 deadline is critical for choosing your payment option

📌 Closed account holders receive approximately 15% more upfront, while open account holders receive additional interest payments

📌 Final approval hearing is November 6, 2025

📌 The settlement administrator will never ask for your Social Security Number

📌 Electronic payment options (direct deposit/Venmo) are significantly faster than paper checks

Don’t Leave Money on the Table

Millions of Capital One customers are eligible for this settlement, but many may not realize they qualify or miss critical deadlines. Capital One allegedly misled customers by keeping older savings accounts at low interest rates, and this settlement is your opportunity to recover some of what you should have earned.

The clock is ticking. With only days left until the October 2, 2025 deadline, now is the time to act.

Conclusion: Your Money Is Waiting

The Capital One $425 million settlement represents a significant victory for consumers who were allegedly misled about their savings account interest rates. Capital One allegedly froze rates on 360 Savings accounts at 0.3% while rates on its newer 360 Performance Savings account soared, costing customers potentially millions in lost interest.

Whether you’re entitled to a few dollars or several hundred dollars, this is your money—interest you should have earned on your savings. Don’t let the October 2, 2025 deadline pass without taking action.

Visit www.capitalone360savingsaccountlitigation.com today to:

Verify your eligibility
Select your payment method
Claim your share of the settlement

Capital One owes you money. Make sure you get it.

Important Legal Disclaimer

This article is provided for informational and educational purposes only and does not constitute legal advice. The information presented here is based on publicly available information about the Capital One 360 Savings Account Interest Rate Litigation settlement as of October 2025.

Before making any decisions regarding the settlement:

Review official settlement documents on the settlement website
Verify all deadlines and requirements independently
Consider consulting with a qualified attorney for legal advice
Confirm your eligibility through official channels
Understand the tax implications of settlement payments

Individual circumstances vary. Your specific payout amount, eligibility, and optimal course of action depend on factors unique to your situation. This article provides general guidance but cannot account for individual circumstances.

Settlement terms are subject to court approval. The settlement is not final until approved by the court. Terms, deadlines, and payment amounts may change based on court decisions or other developments in the litigation.

This article does not create an attorney-client relationship. For specific legal advice regarding your situation, rights, or the settlement, consult a licensed attorney.

Tax Disclaimer: Settlement payments may have tax implications. Consult with a qualified tax professional about how this settlement may affect your specific tax situation.

Accuracy Note: While every effort has been made to provide accurate information, details may have changed since publication. Always verify information through official settlement channels.

Last Updated: October 2025
Primary Sources: Official Capital One 360 Savings Account Interest Rate Litigation settlement website (capitalone360savingsaccountlitigation.com), Court filings, Consumer Financial Protection Bureau, Settlement Administrator communications, news reports from major financial news outlets

Official Settlement Website: www.capitalone360savingsaccountlitigation.com
Settlement Administrator Hotline: 1-888-832-2704

Note: This guide is intended to help consumers understand the settlement and their rights. All class members should review official settlement documents and consider their individual circumstances when making decisions about the 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.
Her writing blends real legal insight with plain-English explanations, helping readers stay informed and legally aware.
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