Capital One Bank Settlement 2024: How Much Will You Get?

Introduction

In June 2023, Capital One Bank settled a class-action lawsuit alleging that the bank misled customers about overdraft fees. The settlement includes a payment of up to $298 million to affected customers.

Eligibility

To be eligible for a payment from the settlement, you must have had a Capital One 360 checking account between July 1, 2019, and January 27, 2023, and paid an overdraft fee during that time.

Payment Amount

The amount you receive from the settlement will depend on the number of overdraft fees you paid during the settlement period. The following table outlines the payment amounts:

How to Claim Your Payment

The settlement administrator will notify eligible customers by mail. You will have until April 10, 2024, to file a claim. You can file a claim online at the settlement website or by calling the settlement administrator at 1-800-888-2152.

Common Mistakes to Avoid

• Failing to file a claim before the deadline. The deadline to file a claim is April 10, 2024. If you miss the deadline, you will not be eligible for a payment.
• Filing a duplicate claim. If you receive more than one notice of the settlement, do not file a duplicate claim. This could delay the processing of your claim.
• Providing incorrect information. When you file your claim, be sure to provide accurate and complete information. This will help to ensure that you receive the correct payment amount.

Call to Action

If you believe you are eligible for a payment from the Capital One Bank Settlement, do not delay in filing a claim. The deadline to file a claim is April 10, 2024.

Stories

Story 1

Maria was ecstatic when she received a letter informing her that she was eligible for a payment from the Capital One Bank Settlement. She had been a customer of the bank for over 10 years and had been charged countless overdraft fees during that time.

"I couldn't believe it," Maria said. "I never thought I would see any of that money back."

Maria used her settlement payment to pay off some of her debt. She also put some of the money aside for a rainy day.

"This settlement has been a lifesaver for me," Maria said. "I am so grateful that I was able to get some of my money back."

Story 2

John was skeptical when he received a notice about the Capital One Bank Settlement. He had been a customer of the bank for a few years and had never paid an overdraft fee.

"I thought it was a scam," John said. "I didn't believe that I was actually eligible for a payment."

John called the settlement administrator to verify that the notice was legitimate. He was surprised to learn that he was eligible for a payment of $50.

"I was so relieved," John said. "I didn't expect to get any money back, but I am glad that I called."

John used his settlement payment to buy a new pair of shoes.

"It's not a lot of money," John said. "But it's enough to make me smile."

Story 3

Susan was furious when she received a letter from Capital One Bank informing her that she was ineligible for a payment from the settlement. She had been a customer of the bank for over 15 years and had been charged numerous overdraft fees during that time.

"I was so angry," Susan said. "I felt like I had been cheated."

Susan called the settlement administrator to dispute her ineligibility. She was told that she was not eligible because she had not paid an overdraft fee during the settlement period.

"I was so frustrated," Susan said. "I had paid overdraft fees in the past, but not during the settlement period."

Susan eventually gave up on trying to get a payment from the settlement. She was disappointed, but she knew that there was nothing she could do.

Lesson Learned

The stories above illustrate the importance of carefully reviewing the terms of the settlement. If you believe you are eligible for a payment, do not hesitate to file a claim. The deadline to file a claim is April 10, 2024.

Useful Tables

Table 1: Settlement Payment Amounts

Table 2: Settlement Timeline

Table 3: Contact Information