Capital One 360 Savings Account Settlement 2026: $425M — No Claim Form Required

Capital One agreed to pay $425 million to customers who held a 360 Savings account between 2019 and 2025 — and here's what makes this settlement unusual: you don't have to file a claim. Eligible account holders receive automatic payments. If you had a Capital One 360 Savings account during those years, here's what you need to know to make sure you actually get paid.

📬 No filing deadline — but action is recommended. Update your payment preferences and mailing address now to avoid a lost or delayed check. Electronic payment is faster and has no minimum threshold.

What Is the Capital One 360 Savings Account Settlement?

This class action settlement resolves claims that Capital One engaged in deceptive marketing practices related to its 360 Savings account. The lawsuit alleged that Capital One advertised the 360 Savings account as a high-yield savings product, but then quietly stopped increasing the interest rate as market rates rose — while simultaneously launching a new product called the "360 Performance Savings" account that paid significantly higher rates.

Customers who held the old 360 Savings account were never told about the higher-rate product and continued to earn well below market-rate interest for years. Plaintiffs argued this was deceptive and constituted a breach of contract and unfair business practices under consumer protection law.

Capital One agreed to pay $425 million to settle these claims, with the fund being distributed to all eligible 360 Savings account holders. The settlement was notable for its size and for the fact that Capital One agreed to automatically distribute payments without requiring customers to submit individual claim forms.

Who Is Eligible?

You qualify for a payment if you meet all of the following:

• You held a Capital One 360 Savings account at any time between September 18, 2019 and June 16, 2025
• Your name was listed as a primary, joint, or co-holder on the account
• You have not opted out of the settlement class

That's it. There is no income threshold, no minimum balance requirement, and no action required to establish eligibility. Capital One has records of all 360 Savings accounts and will use those records to calculate and distribute payments automatically.

If you're unsure whether your account qualified, check your old Capital One statements or log into your account. The account product was called "360 Savings" — not "360 Performance Savings." If you have a 360 Performance Savings account, that product is likely not part of the settlement class (it was the higher-rate product Capital One later offered).

How Much Will You Receive?

Your individual payment from the Capital One 360 settlement depends on two factors:

• The average balance you maintained in your 360 Savings account during the class period
• The duration you held the account

Capital One will calculate the difference between what you actually earned and what you should have earned based on the higher rates available through the 360 Performance Savings account. That interest differential, prorated across the settlement fund after fees and costs, determines your payment.

Customers who held larger balances over longer periods will receive larger payouts. Customers with smaller balances or shorter holding periods may receive more modest amounts. According to settlement filings, individual payments will vary widely.

Important payment thresholds:

• Electronic payments (PayPal, ACH, etc.) will be issued for all eligible amounts, including amounts under $5
• Paper checks will only be issued for amounts of $5 or more
• If your payout is under $5 and you don't opt for electronic payment, you may not receive a check — elect electronic payment to ensure you receive every dollar

What You Need to Do

Because no claim form is required, there is no filing process in the traditional sense. But there are steps you should take to make sure your payment reaches you:

1. Look for the settlement notice from Capital One. Eligible account holders received (or will receive) a notice in the mail or via email that includes a unique ID and PIN. This is your key to updating your payment preferences.
2. Use your unique ID and PIN to update your payment method. Log in to the settlement portal using the credentials from your notice. Select electronic payment (strongly recommended) or confirm your mailing address for a paper check.
3. Update your mailing address if you've moved. If Capital One has an outdated address for you, your check will be sent to the wrong place. Use the settlement portal to update your address now.
4. Choose electronic payment if your balance was modest. Checks are only issued for $5+. Electronic transfers have no minimum. Don't let a small amount slip through because you didn't update your preferences.
5. Wait for your payment. After the settlement receives final court approval and the claims period closes, Capital One and the settlement administrator will distribute payments. This process typically takes several months.

If you did not receive a notice and believe you held a qualifying account, you may contact the settlement administrator directly to verify your status.

Frequently Asked Questions

What is the Capital One 360 Savings Account settlement about?

Capital One paid $425 million to settle claims it deceived 360 Savings customers by failing to increase interest rates as the market rose, while quietly offering better rates through a new product (360 Performance Savings) it never proactively told existing customers about.

Do I need to file a claim?

No. This is one of the rare settlements where no claim form is required. Capital One uses its own account records to identify eligible customers and calculate individual payouts automatically. Your main action is to update your contact information and payment preferences so the payment reaches you.

I didn't receive a notice — can I still get paid?

If you held a qualifying account but didn't receive a notice, you may still be eligible. Contact the settlement administrator to verify. Notices are sent to addresses on file — if Capital One has an outdated address, you may have missed it.

How do I maximize my payment?

Choose electronic payment (ACH or digital wallet) rather than a paper check. Electronic payments have no minimum threshold, while paper checks are only issued for $5 or more. This matters if your projected payout is small.

Is this settlement related to other Capital One data breach settlements?

No. This is a separate case. The Capital One 360 Savings settlement is about interest rate deception, not the 2019 data breach. If you were affected by the data breach, that is a separate settlement with a different claim process.

When will I receive my payment?

Payments are distributed after the settlement receives final court approval and the processing period ends. Timing depends on court schedules and claim administration but is typically 6–12 months after the settlement is finalized.

Bottom Line

The Capital One 360 Savings Account settlement is $425 million and requires zero claim-filing effort from eligible customers. If you held a 360 Savings account between September 2019 and June 2025, you are automatically included. Your only job is to make sure Capital One has your correct address and that you've elected electronic payment — otherwise a check may go to an old address or fall below the $5 paper check threshold.

Take 5 minutes to update your payment preferences. That's it.

→ View the full Capital One 360 settlement details on SettlementRadar