Capital One Customers to Receive Payments from $425 Million Settlement
Good news for many current and former Capital One customers—payments are on the way from a recent $425 million settlement. If you’re wondering about your eligibility, it’s a pretty straightforward process.
The settlement stems from accusations against Capital One for misleading customers by marketing two savings accounts that, although they sound similar—360 Savings and 360 Performance Savings—offered vastly different interest rates.
Anyone who held a 360 savings account with Capital One anytime between September 18, 2019, and June 16, 2025, may receive a payout.
Payments are expected to begin arriving within the next one to two months. You won’t need to do much; the payout amount will vary based on how long you maintained your account, the balance you had, and how many people are in your payment class.
Checking Your Eligibility
The lawsuit claims that Capital One failed to adequately inform customers about their accounts, even discouraging them from switching to higher-yield options.
To find out if you’re eligible, you can start by checking your savings accounts. Just keep in mind that if you opened your account after June 16, 2025, you won’t qualify.
If you’re uncertain about which accounts you have, a quick sign-in to the Capital One mobile app or website will help. Just select the specific account, then click to view the details.
Another option is to check your bank statements to see which accounts are currently active. To access your statements online, pick the account you’d like to review and select the statement option.
According to the lawsuit, the 360 Performance Savings account launched in 2019 with an interest rate of 1.9%, which was higher than the initial yield of 1% for the regular 360 Savings. However, things shifted rapidly; the interest rate for 360 Savings plummeted to 0.3%, whereas 360 Performance Savings surged to 4.35%.
The allegations indicate that customers lost out on millions in interest because the differences in the accounts’ rates were not clearly communicated by Capital One.
