$425M Capital One 360 Savings Account Class Action Settlement
Capital One has agreed to pay $425 million to settle a class action alleging the bank kept 360 Savings account interest rates artificially low, causing account holders to earn less than they should have. If you held a Capital One 360 Savings account during the eligible period, you may receive an automatic payment — with no claim form required. Payments are expected around July 21, 2026.
Do I Qualify?
You may be eligible if:
- You were a Capital One 360 Savings account holder
- You earned less interest than you should have due to Capital One keeping rates artificially low
- You are included in the class as defined by the settlement
No proof is required. This settlement is fully automatic — eligible account holders receive payments without filing a claim form or submitting documentation.
Learn more about the Capital One 360 Savings settlement on the official information page.
Learn More →What Happened?
Capital One marketed its 360 Savings account as a high-yield savings account, advertising competitive interest rates to attract customers away from traditional banks. However, after acquiring ING Direct and rebranding it as Capital One 360, the bank stopped increasing interest rates even as the Federal Reserve raised rates dramatically between 2022 and 2023.
While Capital One was simultaneously offering its new 360 Performance Savings account with rates as high as 4.35%, existing 360 Savings account holders were left earning as little as 0.30%. Capital One allegedly hid the existence of the higher-rate account from existing customers. A federal judge approved the $425 million settlement in 2025.
How Much Will I Actually Get?
This is one of the rare settlements where you do nothing and get paid automatically. Payments are expected on or around July 21, 2026 via check or direct deposit to your Capital One account. The amount per person depends on your account balance and how long you held the account during the affected period. Estimates suggest most account holders will receive between $20 and $100.
Last updated: June 12, 2026 | Information verified from court records and official settlement documents.