Capital One customers have just a few days left to secure their payout from a $425 million settlement tied to its 360 Savings accounts. The deadline to act is Thursday, October 2, 2026.
Why the Settlement Exists
Capital One faced multiple lawsuits over claims it kept interest rates on its 360 Savings accounts artificially low for years, even as national rates increased. This allegedly cost customers billions in lost interest. While Capital One has not admitted wrongdoing, it agreed to settle for $425 million.
Who Qualifies
You may be eligible if you had a Capital One 360 Savings account (not a 360 Performance Savings account) anytime between September 18, 2019, and June 16, 2026. Settlement managers may have already sent you a notice with details.
How to Claim
You do not need to file a claim form. However, you must log in to the settlement website with your Claim ID and four-digit PIN (found on your notice) to select how you’d like to be paid.
Calculate Your 2026 COLA Increase →- Deadline: October 2, 2026
- Electronic payment: Issued regardless of the amount owed
- Paper check: Only issued if your payout is more than $5
Failing to update your payment preference by the deadline could mean losing your share of the settlement.
How Payments Are Calculated
The exact amount you receive will depend on:
- How long you held your 360 Savings account
- The amount of interest you should have earned if your account had matched 360 Performance Savings rates
Additional $125 Million in Interest Payments
As part of the settlement, $125 million has been set aside for “additional interest payments.” For customers who keep their 360 Savings accounts open after October 2, Capital One has agreed to:
- Pay interest at twice the national average savings rate (calculated by the FDIC)
- Continue payments until the $125 million is fully distributed
If your account is already closed or converted to a Performance Savings account before the deadline, you will receive a Class Cash Payment estimated to be about 15% larger than standard payouts.
Key Dates
- October 2, 2026 – Last day to select your payment option
- November 6, 2026 – Final approval hearing for the settlement
