All account holders who had a 360 Savings account with Capital One from the duration of September 18, 2019, to June 16, 2025, are eligible to receive a share of the $425 million. This class action settlement is filed against Capital One Financial Corporation, which is alleged the company misled its customers about the interest rates on their 360 savings accounts. This claim further stated that several customers received lower interest rates compared to new account holders of 360 Performance Savings accounts.
So far, the settlement administrator has not announced any decision regarding this settlement. The final hearing is scheduled for November 6, 2025. It is stated that no claim form is obligatory to collect the payments. All affected customers are automatically eligible to get their part of the class cash payment. However, you have the option to choose how to receive your share—either electronically or via check.
Capital One Bank Settlement Payment Status
Capital One Bank was accused by the Consumer Financial Protection Bureau(CFPB) of keeping the interest rate low for its 360 Savings account. Capital One agreed to compensate the customers with $425 million to settle this class action lawsuit. The settlement aims to give the affected customers, including $300 million for automatic cash payments to entitled class members and $125 million allocated to raised interest rates for the customers who maintain their 360 Savings accounts in the future. The payments will be issued after the court’s final decision, expected to be administered within 60 days after the court’s authorization.
Overview of Capital One Bank Settlement
| Article On | Capital One Bank Settlement Payment Status – Here’s All You Need to Know |
| Country | United States |
| Settlement Amount | $425 million |
| Payment Date | December 2025 and January 2026 |
| Object to this Settlement Deadline | October 2, 2025 |
| Final Hearing | November 6, 2025 |
| Eligibility Period | September 18, 2019, to June 16, 2025 |
| Category | Finance |
| Official Website | capitalone360savingsaccountlitigation.com |
When will I get the payment?
The eligible customer would receive their payments after the court hearing scheduled for November 6, 2025. The deadline to object to the settlement, to exclude yourself from the settlement, and to choose your payment method is the same on October 2, 2025. On September 28th, 2023, the payments were made to the applicants who met the eligibility criteria.
To ensure to receive your payments on time, it is crucial to update your contact details and payment methods by the deadline. These payments are made as part of the settlement to compensate the eligible customers. If you do not take these steps, the payment will be directly sent to you through a paper check on the scheduled date of the Capital One Bank Settlement. It is anticipated that payouts will start within 60 days after the court approval, as governmental and legal proceedings take time.
What is CFPB’s role in this case?
TheConsumer Financial Protection Bureau (CFPB) plays a vital role in the administration. According to the CFPB ‘s lawsuit, it claims that Capital One allegedly misleads customers by publicizing the 360 savings account as its high-interest account, but far along established a new version, a higher-income account, deprived of transforming the older accounts or communicating it to the existing customers.
The CFPB accused Capital One of hiding the information about new earning accounts from the existing 360 savings account customers and keeping them in low earning accounts. The customer alleges that Capital One evaded paying over $2 billion in interest to the account holders between September 18, 2019, to June 16, 2025, as a consequence.
How to Claim the Reimbursements for the Settlement?
There is no separate application available to claim this settlement amount. Payments are automatically disbursed to entitled customers of the 360 Savings account. However, to ensure that you receive your payments on time, update your contact details and select the payment method before the deadline.
If you do not update your details, the compensation will be sent as a check to your last provided mailing address. The payments will start being issued after court approval, scheduled for November 6, 2025.
How to Check the Payment Status?
To check the payment status of this class action settlement filed against Capital One, to mislead the customers of 360 savings accounts, follow these steps:
- First of all, there is no separate claim form available; qualified customers will obtain automatic payments.
- To ensure payments reach smoothly, update your contact details and choose the payment method before the deadline, which is October 2, 2025.
- If you have any queries, then you can contact the settlement administrator through the official website or by calling. Toll-free number at 1-855-604-1811.
- There is no separate official form designed for the customer to claim the payment status because the payments will be automatically issued.
Final Thoughts
This class action settlement is important to address how Capital One deceived its clients about the interest rates. Under this settlement, affected class members have been provided with lasting and immediate relief by the Capital One Bank Settlement.
Between 2019 and 2025, if you have a Capital One account and have experienced identity or monetary losses, then you are eligible for compensation. The $425 million settlement holds the bank responsible for transparency and fairness, serving to restore the trust of customers.
Frequently Asked Questions
What amount is received under the Capital One Settlement?
The court approved $425 million as the settlement amount. Payments will be processed after the court’s approval, scheduled on November 6, 2025. Payments are anticipated within 60 days of approval.
Do you need to file a claim to receive a payment?
No claim is required. Eligible members automatically get payments, but can choose their payment method online.
What is the deadline to select your payment option?
The payment option must be selected by October 2, 2025, using the settlement notice ID and PIN.
How do you get an electronic payment?
Use your notice ID and PIN to select electronic payment on the settlement website www.Capitalone360savingsaccountlitigation
Who is eligible for the settlement?
Account holders with a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, are eligible.
