In 2019, a big data breach hit Capital One Bank. It affected over 100 million customers. Now, years later, payments from the class action lawsuit are finally on their way. If you’re wondering when your money is coming, we’ve got you covered!
TLDR (Too Long, Didn’t Read)
The Capital One Bank settlement payments are starting to go out in 2024. Most people should expect funds by late summer or early fall. Payments may come as checks, PayPal transfers, prepaid cards, or direct deposits. If you filed a valid claim, keep an eye on your email or mailbox!
What Was the Capital One Data Breach?
Let’s rewind for a second. In July 2019, Capital One confirmed that a hacker had accessed the personal data of millions of customers. The stolen info included:
- Names
- Addresses
- Credit scores
- Social Security numbers (in some cases)
Naturally, people weren’t happy. So, a class action lawsuit followed. In 2022, Capital One agreed to a $190 million settlement to resolve the issue.
Who Qualified for the Settlement?
About 98 million people were eligible. But to get a payment, you had to file a valid claim by September 30, 2022. If you did that, you’re on the list!
People could claim reimbursement for:
- Time spent dealing with the breach (up to 15 hours)
- Out-of-pocket losses
- Credit monitoring services
If you filed for those, you’re probably eager to know when the payout is coming.
So… When Do I Get My Money?
This is the part you’ve been waiting for.
As of early 2024, the settlement administrator announced that payments would begin after final court approvals are complete. That approval happened in September 2023. So, payments are now being processed.
Expected payment window: Mid to late 2024
The most recent update said funds would be delivered between August and October 2024, depending on how you chose to be paid.
Payments will roll out in stages, not all at once. So don’t panic if your friend gets theirs before you do.
How Will I Be Paid?
Good question. You could choose your payment method when you filed your claim. Here’s how people are getting paid:
- Direct deposit
- Check in the mail
- PayPal or Venmo
- Prepaid Mastercard
If you don’t remember what you picked, check the email you used to file the claim. Payment notifications will be sent there first.
How Much Will I Get?
This one’s a bit trickier. The exact amount varies depending on:
- How many people filed claims
- Whether you filed for time, expenses, or both
- Administrative and legal costs
Here’s what most people can expect:
- Time reimbursement: About $25 per hour (up to 15 hours)
- Out-of-pocket losses: Up to $25,000
- Mediocre estimate for most claimants: Between $100 to $300
Not huge, but hey, free money is free money!
Will I Be Notified?
Yes! The settlement administrator will send an email notification when your payment is processed. They’ll use the info you provided in your original claim. So check that inbox (and your spam folder!) regularly.
If you picked a prepaid card or PayPal, the email will tell you how to access your funds.
What If I Don’t Get My Payment?
If October has passed and there’s still no sign of your settlement money, take action. Here’s what to do:
- Go to the official settlement website: capitalonesettlement.com
- Use your Claim ID to check your status
- If needed, contact the settlement administrator for help
You can also call their toll-free number. All that info is listed on their website.
How to Avoid Scams
With big settlements like this, scammers get crafty. Be careful! The official settlement emails will come from info@CapitalOneSettlement.com. They will never ask for your banking password or Social Security number.
If someone calls you claiming to be from Capital One, hang up and check the official site instead.
Friendly Reminders
- Payments are being sent out in waves
- Check your spam and junk folders for updates
- Be patient — some people may have to wait until late fall
- Update your payment info if something has changed
Bonus: What Can You Do With That Money?
Even if it’s just $100, you can still make it fun! Here are some silly but smart ideas:
- Treat yourself to a fancy coffee each week for a month
- Buy yourself new headphones, a cozy hoodie, or a stack of books
- Put it toward a fun weekend road trip
- Or just save it — boring, but hey, stability is cool too
In Summary
The Capital One settlement is finally paying out in 2024. The amount you get depends on what you claimed. Payments are expected between August and October. Just keep an eye on your email and mailbox for updates.
Still have questions? Visit the official site or reach out to the settlement support team. And hey — enjoy your refund!
