Capital One $425M Settlement: Eligibility, Claims Process, and Payout Timeline

This article contains affiliate links. If you buy through them we earn a commission at no extra cost to you. Not legal advice. Details.

Capital One reached a $425 million settlement with customers over overdraft fees and interest practices on its 360 Savings account. Here's who qualifies and how to file a claim. For creditors who received a settlement offer, a clean release template keeps you out of future clawback exposure. LawDepot has state-specific release-of-claim forms.

What Is the Settlement About?

The settlement resolves allegations that Capital One charged excessive and unjustified overdraft fees and interest on its high-yield 360 Savings account, a product offered only online.

Who Qualifies?

You likely qualify if you:

• Held a Capital One 360 Savings account between [dates specified in settlement]
• Were charged overdraft fees or interest charges you believe were unfair
• Did not already receive a refund or credit from Capital One

Claim Amount

Payments will be distributed based on documented overdraft charges. The settlement fund total is $425 million. If many claims are filed, individual payments may be reduced proportionally.

How to File

1. Go to the settlement administrator's website (details in official notice)
2. Fill out the claim form with your account information and overdraft charges
3. Attach documentation (bank statements, fee notices)
4. Submit before the deadline (typically 6–12 months from settlement announcement)

Expected Payout

Depending on the number of claims, individual settlements may range from $50 to $2,500+. The settlement administrator will announce the payout schedule once claims are totaled.