By Samuel Gonzalez
Capital One Customers in the United States they will be able receive part of an agreement millionaire after judicial approval of compensation of $425 million dollars. The measure comes after a lawsuit that pointed out possible differences in interest payments between two types of savings accounts offered by the financial institution for several years.
It all started in 2019, when the bank launched the 360 Performance Savings account, which offered higher interest rates. The lawsuit arises after Clients who maintained the 360 Savings account would have remained with a lower return, without receiving clear information about the existence of a more profitable alternative within the same bank..
The lawsuit alleged that this situation could have affected a lot of users, by not informing in a sufficiently transparent manner that the new account offered better conditions. Although the institution denied any irregularity, The agreement was approved by a judge on April 20allowing progress towards the distribution of money.
Who enters the agreement?
The agreement applies to all people who had a 360 Savings account between September 18, 2019 and June 16, 2025including individual holders and joint or shared accounts.
It is not necessary to have closed the account to be eligible. It is enough to have kept it active within the period established to be considered within the group of beneficiaries of the agreement.
Do I need to file a claim?
The process does not require additional procedures on the part of clients. The agreement system contemplates the automatic sending of payments to those who meet the requirements.
Some users had the option to choose to receive the money by electronic transfer, as long as they requested it before the established deadline, which was before October 2, 2025. Those who did not make that selection will receive a physical check, as long as the amount exceeds $5 dollars. In cases less than that amount, payment is only delivered if the digital modality was chosen.
How is the money calculated?
Each client will receive a different amountdetermined by the difference between the interest you earned in your 360 Savings account and those it would have generated if it had had the highest rate from the 360 Performance Savings account.
The entire $425 million dollar fund will be divided among all beneficiariesafter deducting legal, administrative and operational expenses related to the process.
When will payments be sent?
With judicial approval already issued and no appeals pending, lPayments are scheduled to begin around July 21, 2026according to the official information of the agreement.
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