Capital One $16 Million Settlement: Find Out if You’re Eligible

The settlement centers around fees which plaintiffs argue should have been refunded, which occurred between 2015 and 2022.

Capital One customers could be welcoming a pay out soon, as a class action settlement aimed at the bank comes to a close.

The settlement affects customers who were with the bank between 2015 and 2022, and who were charged a representment fee.

We explain what you need to know about the settlement, who is eligible, and how to claim.

Capital One Settlement Explained

The settlement is centered around representment fees, which the settlement defines as “an unrefunded [nonsufficient funds] NSF Fee or an Overdraft Fee charged to an account holder for either a Represented Check or Represented ACH, after Capital One had returned that Check or ACH for insufficient funds and assessed an NSF Fee on a prior presentment of that Check or ACH.”

Plaintiffs argue that Capital One should have refunded these fees when the customers presented checks and ACH (automated clearing house) debits.

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For its part, Capital One hasn’t admitted to any wrong doing in this case, but has agreed to pay out in the $16 million settlement.

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Who is Eligible for Capital One Settlement?

If you want to be part of the settlement and get your share of the $16 million pay out, the terms of eligibility are refreshingly simple:

  • You were a Capital One account holder between September 1 2015 and January 12 2022.
  • Capital One charged you representment fees during this period.

That’s it! It may be that you have received an Email or Postcard Notice from the bank, which is a sign that you may be entitled to the settlement.

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How To Claim in Capital One Settlement

If you’ve claimed in a settlement before, you’ll know that it usually involves filling out a form to register your interest.

However, in this Capital One case, you don’t actually need to do anything! Anyone who doesn’t exclude themselves from the settlement will automatically receive a pay out, assuming they’re eligible.

If you do want to exclude yourself for any reason, or claim an objection, you’ll need to do so by June 17 2024, so you don’t have long. You can do this by visiting the official settlement website.

If you’re wondering how much of a pay out you can expect, the amount is being distributed pro rata, so the final sum depends on how many people are eligble, which we don’t know at this time. It’s also worth noting that the $16 million figure isn’t the final pay out figure, as legal costs and other fees brings it down to $10,308,909.16.

As for when you can expect to receive your payment, the final approval hearing for the case is scheduled for July 15 2024, with any payments expected to be made with 60 days of this date. However it’s worth noting that if there are any objections raised, this could push the payment date back

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Written by:
Jack is the Deputy Editor for He has over 15 years experience in publishing, having covered both consumer and business technology extensively, including both in print and online. Jack has also led on investigations on topical tech issues, from privacy to price gouging. He has a strong background in research-based content, working with organisations globally, and has also been a member of government advisory committees on tech matters.
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