Capital One settlement: How to know if you're eligible for payout

Under a $425 million settlement approved April 20, certain holders of the Capital One 360 Savings account will receive payments.

The class-action suit arose from allegations that Capital One employed deception to discourage customers from switching to an account with a higher interest yield. The company denies any wrongdoing and opted to settle the suit.

Payments will go to people who held a Capital One 360 Savings account at any time from Sept. 18, 2019, through June 16, 2025.

The website with the settlement details says claimants don’t need to file a form — the company already knows who they are. Unless they specifically excluded themselves before the March 30 deadline, they will automatically get a check or electronic payment.

Payments are expected to go out by July 21. There’s no estimated payment amount, as it varies depending on when and how long the customer held the savings account.

The deadline to opt for electronic payment has passed; for those who will be paid by check, it will be sent to the address that Capital One has on file. No check will be sent for a payout less than $5.

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This story was originally published April 23, 2026 at 8:37 AM.