The Capital One 360 settlement is now official, and millions of current and former customers are in line to get paid. A federal judge signed off on a $425 million class-action deal on April 20, 2026, covering anyone who held a 360 Savings account between September 18, 2019, and June 16, 2025. Eligible customers will receive the Capital One 360 settlement payout automatically, with no claim form required, and the Capital One settlement payout date lands on or around July 27, 2026. How much each person gets from the Capital One 360 settlement depends on the interest their account missed out on during that period.
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Capital One 360 Settlement Payout, Payout Date, Per Person Amount Guide
What the Case Was About
The lawsuit, first filed in 2023, accused Capital One of quietly leaving its existing 360 Savings customers on a much lower interest rate after it launched the 360 Performance Savings account in 2019. Older account holders earned just 0.3% APY at a time when newer customers got as much as 4.35%. The bank also removed all references to the original product from its website and kept marketing the older account as a high-yield option, which is the part that really fueled the legal case. Capital One denied any wrongdoing throughout.
New York Attorney General Letitia James stated:
“Capital One assured high returns with no catches, then pulled the rug out from under their customers and hoped nobody would notice.”
Judge David Novak of the Eastern District of Virginia rejected an earlier version of this deal back in November 2025, pointing out it would have compensated customers for less than 10% of their actual lost interest. The revised agreement brought the total up from under $300 million to $425 million, and that is what finally earned his approval.
Capital One 360 Settlement Payout Per Person
The Capital One 360 settlement payout per person works out differently for each customer. Right now, the settlement administrator has not set a fixed amount. The calculation uses the gap between what each person’s 360 Savings account actually paid and what the 360 Performance Savings account paid during that same period. Lawyer fees of up to 15%, plus administrative costs, also come out of the $425 million pool first, so the total available for distribution will be a bit lower than the headline number.
Beyond the one-time payment, the deal also forces Capital One to align the interest rates on 360 Savings accounts with those on 360 Performance Savings going forward. That rate change applies automatically to existing accounts, so holders do not need to switch or take any action to benefit from it.
Attorney General James also said:
“Capital One customers were counting on growing their savings accounts, but their bank misled them and cheated them out of valuable interest payments for years. Today we are delivering justice for those customers nationwide and ensuring that they will receive the higher interest rates they were originally promised.”
Capital One Settlement Payout Date and How Payments Work
The Capital One settlement payout date of July 27, 2026, only holds if no one files an appeal. If someone does file an appeal, courts will push everything back until they resolve it. Customers who selected electronic payment before the March 30, 2026, deadline will get funds that way. Capital One will mail a check to the last known address on file for everyone who qualifies for $5 or more. If your share comes out to less than $5 and you did not opt in for electronic delivery before that deadline, you will not receive anything.
The settlement administrator will never ask for a Social Security number or employer identification number. Any request for that information is not a legitimate communication from the settlement. For questions, the official contact is 1-888-832-2704 or capitalone360savingsaccountlitigation.com.
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One more thing worth noting: the Capital One 360 settlement is a completely separate matter from the earlier Capital One data breach settlement, which came out of a 2019 cyberattack that exposed data on roughly 98 million U.S. consumers. That older deal’s claim period closed a while ago, and the only active benefit still running under it is identity protection services, extended through February 13, 2028.