If you had a Capital One 360 Savings account between September 18, 2019, and whenever an eventual settlement is approved in 2025, you are eligible for a claim. Capital One will pay a $425 million fine after a lawsuit said the bank unfairly kept legacy customers on low interest rates while offering much higher ones to new accounts.
The bank denies wrongdoing, but the settlement is allowing affected account holders the opportunity to receive compensation or improved savings rates. Customers will have to take part by filling out a claim form, which is currently being produced. It is a notable settlement because it targets long-standing issues for longstanding Capital One customers.
Capital One Bank Settlement Claim Form
The lawsuit called Capital One Settlement informed the 360 Savings customers that their interest rates would likely rise with the economic climate, yet after hearing the customer it’s unlikely they would even switch the account or inform them of a better account. Instead, accounts were paid at a lower level of about 0.3–1%, even as market rates spiked.
As a consequence, millions of customers lost out on billions of dollars in interest from 2019. This discrepancy was cited in the lawsuit and resulted in a settlement without admission of wrongdoing to compensate customers. The plan, including the way any payouts and account upgrades will be apportioned, is still subject to the approval of the judge.
The settlement consists primarily of two components. First, $300 million will be paid to former and current customers who had 360 Savings accounts during the covered period, to make up for missed interest earnings. How much an individual receives is based on how long they had the account and how much money was in it.
Second, the $125 million will increase interest for people who still have legacy savings accounts. Legacy accounts will have to pay at least double the national average savings rate as calculated by the FDIC, for better returns, prospectively. In May 2025, the average national rate was approximately 0.42%.
Capital One Bank Settlement 2025 Overview
| Article On | Capital One Bank Settlement Claim Form |
| Country | USA |
| Bank | Capital One Bank |
| Eligibility | Must hold a 360-savings bank account |
| Amount | As per eligibility |
| Payment Mode | Direct Deposits |
| Claim filing date | Announcing soon |
| Category | Government Aid |
| Official Website | Capitalonesettlement.com |
Eligibility for Capital One Settlement
- You need to have had a Capital One 360 Savings account from September 18, 2019, to the court-approval date.
- You never should have opted out of the class action, or excluded yourself.
- During the claims period, submit a proper claim form.
- You will need to have account details, dates, and maybe even balance history.
- People can be paid based on how long they maintain their account and how much it has in it.
- Only those who file claims through the official process will be able to receive payouts or account credits.
How to fill out the Claim Form?
The official settlement website, typically a URL published with court approval can be used to fill out the form. Many account holders will receive mailed or emailed notice of the Proposed Settlement that will include a Class Member ID and instructions.
To fill out this form, you are required to have your Class Member ID, individual information, account number(s), and effective dates of your 360 Savings account. Give this to them gently to be processed in as little time as possible. You can either file online or have a mail-in form sent to you if you prefer a hard copy. Filing deadlines will be scheduled upon final approval by the court. Anticipate forms to be reviewed in mid to late 2025, which aligns with settlement timing in other cases. Make sure you file in time to be eligible.
What Occurs Once the Claim Is Filed?
Claims will be submitted, reviewed, and verified. Your money is refundable if you are due a payment, you will get a direct deposit or a check. Those with remaining legacy accounts will have interest rate changes implemented over multiple billing periods. The processing time is likely to be several weeks, or even months but eligible claimants can expect to begin receiving payouts in 2026.
Watch your email as your official information will come through this and the official website. The settlement administrator can also send updates on the timeline for payouts and changes to accounts.
Latest News on Capital One Bank Settlement
With so many account holders affected, it may take time to process. There may be delays due to things like incomplete forms or account information that doesn’t match up. Filing correctly and early is essential. Keep all notices, forms, and confirmation e-mails so you have them if something goes wrong. If you never received a notice but think you did have a qualifying account, you may visit the website or call the settlement helpline.
Remember that taking payment means you can’t sue Capital One later, on the same complaint, on your own. If you anticipate future claims or higher damage amounts, talking to a lawyer before filing can help.
FAQs
When Can I apply for the Claim?
The claim form itself will be online after the court approves the settlement, which will probably be in late 2025. Payouts and adjustments are due to start in 2026.
What can I recover from the settlement?
Payouts depend on your 360 Savings balance and duration; some may receive hundreds or thousands, while current users get better interest rates.
I closed my 360 Savings account; can I still apply?
Yes, former account holders can participate as long as they hold the account during the settlement period and have not opted out. File a valid claim with truthful dates of exposure.