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Capital One Settlement Deadline: 360 Savings Holders Must Choose Payout Method by Oct. 2

State attorneys general call the $425 million deal inadequate, with a challenge set for a Nov. 6 approval hearing.

Capital One was accused of cheating its customers out of billions of dollars. It's since agreed to pay $425 million over these allegations, although the company hasn't admitted any wrongdoing. (Getty Images)
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Overview

  • Eligible customers are those who held Capital One 360 Savings accounts between Sept. 18, 2019 and June 16, 2025.
  • Recipients do not file a claim form but must use the claim ID and four‑digit PIN from their notice to select a payment option on the settlement site.
  • Electronic payments will be issued regardless of amount, while paper checks are not mailed for payouts under $5.
  • Individual awards are based on how long the account was open and what it would have earned at 360 Performance Savings rates, with closed or converted accounts currently estimated to receive about 15% more as a one‑time cash payment.
  • $125 million is reserved for ongoing additional interest at no less than twice the FDIC national average for those who keep 360 Savings accounts open until that fund is depleted, as Capital One denies wrongdoing while agreeing to settle.