Millions of Capital One customers may receive money or higher interest benefits in 2026 following a $425 million class action settlement involving savings accounts. If you ever held a Capital One 360 Savings account, this settlement could affect you directly.
This article explains what happened, who qualifies, how payouts work, and what—if anything—you need to do.
What Is the Capital One $425M Settlement?
The settlement resolves claims that Capital One paid lower interest rates to customers holding older 360 Savings accounts, while higher rates were available on a newer savings product. Customers argued this led to reduced interest earnings over time.
Capital One agreed to the settlement without admitting wrongdoing. Account structures and savings products referenced in the case are described on the Capital One official website.
Why This Settlement Matters
Even small interest rate differences can add up over several years. For customers who kept savings balances long-term, the impact may have been meaningful.
The settlement:
- Compensates customers for estimated lost interest
- Improves savings interest rates going forward
- Applies automatically for most eligible users
Who Is Eligible?
You are likely included if:
- You held a Capital One 360 Savings account
- The account was active between September 2019 and June 2025
- This includes closed and joint accounts
Customers who only held 360 Performance Savings accounts are generally not part of this settlement.
How Payouts Are Determined
Payments are not a flat amount. They depend on:
- Length of time the account was held
- Average account balance
- Whether the account remained open or was closed
Some customers will receive cash, others benefit mainly from higher future interest, and some receive both.
Capital One Settlement Summary
| Item | Details |
|---|---|
| Settlement Amount | $425 million |
| Affected Account | Capital One 360 Savings |
| Coverage Period | Sept 2019 – June 2025 |
| Claim Required | No |
| Payment Type | Cash payment and/or higher interest |
| Payment Timing | After final approval (2026) |
| Closed Accounts | Still eligible |
This table helps readers quickly confirm whether the settlement applies to them.
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When Will Payments Be Sent?
Final court approval is expected in spring 2026. After approval:
- Payments will be calculated automatically
- Eligible customers will be paid later in 2026
- Payments may arrive via direct deposit or mailed check
Exact timing varies by customer.
Do Customers Need to Take Any Action?
No action is required for most people.
You should only:
- Make sure your contact details with Capital One are current
- Watch for official settlement notifications
No claim form is needed unless specifically requested.
What This Means for Current Customers
As part of the settlement:
- Interest rates on older savings accounts are aligned with newer products
- Transparency around savings options is improved
For active customers, higher future interest may be more valuable than a one-time payout.
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Conclusion
If you held a Capital One 360 Savings account in recent years, this settlement likely applies to you. The $425 million agreement compensates for past interest differences and improves savings terms going forward, with most payments handled automatically in 2026.
Frequently Asked Questions
How much will I receive from the settlement?
There is no fixed amount. Payments depend on your account balance and how long you held the account.
Are closed accounts included?
Yes. Customers who closed eligible accounts during the covered period are still included.
Is this payout taxable?
In some cases, settlement payments may be taxable. It depends on individual circumstances.
Do I need to contact Capital One?
No, unless your contact information has changed.
When will payments arrive?
Most payments are expected later in 2026 after final approval.
Disclaimer
This article is for general informational purposes only. Settlement terms, eligibility, and payment timing are subject to court approval and may vary by individual account history. This content does not constitute legal or financial advice.
Written by our editorial team, committed to accurate and responsible reporting.