Millions of Capital One customers are racing against the deadline as the massive $425 million settlement reaches its final day for action. The settlement revolves around allegations that Capital One underpaid interest on its 360 Savings accounts while marketing them as competitive high-yield products. If you held one of these accounts in the past few years, you could be owed money — and here is the complete breakdown of eligibility, payment details, and what steps to take.
What Triggered the $425 Million Capital One Settlement
The settlement was reached after customers claimed that Capital One failed to raise interest rates on its 360 Savings accounts in line with market increases. As other banks boosted rates, Capital One’s rates lagged significantly, allegedly causing customers to lose out on substantial earnings. To resolve the dispute, Capital One agreed to pay $425 million to affected customers.
Who Is Eligible for the Settlement Payout
You may be part of the settlement if you:
• Held a Capital One 360 Savings account anytime between September 18, 2019 and June 16, 2025
• Are a current or former Capital One customer
• Received an official notification email or letter regarding eligibility
Even if your account is closed today, you may still qualify for compensation.
How Much Money Eligible Customers May Receive
Settlement amounts vary per customer depending on account activity and how long the account was open. Here’s a general outline:
| Category | Estimated Payout |
|---|---|
| Current 360 Savings Customers | Interest adjustment + small cash payment |
| Former 360 Savings Customers | Larger one-time cash payout |
| Long-Term Account Holders | Higher compensation based on duration |
How to Claim Your Money Before the Deadline
In most cases, you do not need to file a traditional claim form. Capital One is verifying eligible customers internally.
Here’s what you must do if you received a settlement notice:
• Use your provided settlement ID and PIN to choose a payment method
• Select electronic transfer or paper check
• Verify your personal details so your payment is correctly delivered
If you miss the deadline to choose your payment method, you may still be paid automatically, but the payout method could be pre-assigned.
Key Reasons You Should Not Ignore the Settlement
This settlement compensates customers for interest they should have earned, and payouts could be meaningful depending on account duration. With millions eligible, acting before the deadline ensures you do not miss money legally owed to you.
Conclusion:
The Capital One $425 million settlement marks one of the largest banking payouts in recent years, and today is the final opportunity for customers to take action. If you held a Capital One 360 Savings account during the eligibility window, confirm your payment selection and ensure your details are correct. Missing the deadline could delay or reduce your payout.
Disclaimer: This article summarizes publicly available settlement information. Exact payout amounts, eligibility criteria, and administrative procedures may vary. Customers should rely on official settlement notices for final instructions.
