Who is eligible for a payment?
The settlement class includes all persons or entities in the United States who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025. If you opened a "360 Performance Savings" account during this time, you are likely not a primary claimant for the restitution portion, as that account already received the higher interest rates.
How much money will I receive?
The individual payout depends on your historical account balances. The $425 million fund (minus legal fees and administrative costs) is being distributed pro-rata based on the interest you "lost" by being kept in the lower-tier account.
Average Payouts: While exact figures vary, some eligible long-term savers with high balances may see several hundred dollars.
Minimum Payment: If your calculated share is less than $5.00, you will generally not receive a check.
How do I claim my cash?
The best part of this specific settlement is its simplicity: No claim form is required for most members.
Automatic Distribution: Because Capital One has your account records, payments are being issued automatically.
Payment Method: If you did not visit the official settlement website by the March 30, 2026 deadline to select an electronic payment (Venmo, PayPal, or Zelle), a physical check will be mailed to your last known address on file.
When will the checks be mailed?
With the "final green light" from the judge given this week (April 20, 2026), the settlement administrator is expected to begin processing distributions shortly. Most class members can expect to see their funds arrive within the next 60 to 90 days, barring any last-minute appeals.
What other benefits are included?
Beyond the cash restitution, the settlement includes a significant "go-forward" provision:
Rate Alignment: Capital One is required to align the interest rates of the legacy 360 Savings accounts with the 360 Performance Savings rates.
Projected Impact: This change is estimated to provide an additional $530 million in future interest to consumers nationwide.
Is this related to the 2019 Data Breach?
No. It is important to distinguish this from the older data breach litigation.
The Data Breach Settlement ($190M) is largely concluded, with the final payment reissue periods having closed in late 2024.
This 2026 Settlement ($425M) is strictly about interest rates and deceptive marketing of savings accounts.
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