The Capital One Settlement 2024, valued at $5.5 billion, requires eligible merchants to submit their claim forms by August 30 and you can do it online or offline. The Capital One Settlement 2024 Payout Date is not available yet, but it is anticipated that the payout will begin after this deadline.
Capital One Settlement 2024 Payout Date
The main issues in the Capital One case are the interchange fees owed by businesses that took Visa or Mastercard credit or debit cards between January 1, 2004, and January 25, 2019, as well as the guidelines set forth by Visa and Mastercard for those businesses.
You may be able to get your portion of the $5.5 billion settlement if your company took Visa and/or Mastercard within this time frame. The settlement addresses claims that merchants paid excessive fees to accept Visa and Mastercard cards due to antitrust violations by these companies and their respective member banks.
It is anticipated that no payments will be given until August 30, 2024, which is the end of the Claims Period. It’s not known yet when payments will be made because the pro rata cannot be established until all claims have been submitted, and examined, and the court has approved the final amounts.
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Who is eligible to get the payout from Capital One Settlement 2024?
The Settlement Class includes all persons, businesses, and other entities that accepted Visa- Cards and/or Mastercard- Cards in the United States from January 1, 2004, to January 25, 2019.
Exclusions from the Settlement Class include Dismissed Plaintiffs, the United States government, named Defendants, and certain financial institutions. If you didn’t exclude yourself from the settlement, you’ll automatically receive a payout if eligible.
The deadline to submit claims is August 30, 2024, for Capital One Settlement. You can file a timely claim online using the Claimant ID provided in the mail or by providing your Taxpayer Identification Number on the official settlement website to get this settlement amount.
How much payout will I get through Capital One Settlement 2024?
Following the terms of the settlement, Visa, Mastercard, and the Bank Defendants have committed to providing $5.54 billion to merchants who did not remove themselves from the Settlement Class.
Every merchant in the Settlement Class who did not exclude themselves from the class by the deadline and submitted an appropriate claim (an “Authorised Claimant”) will receive payment from the settlement fund. This fund will cover settlement administration, tax expenses, Class Plaintiffs’ monetary awards, and Attorneys’ fees and expenses, as approved by the Court.
The settlement fund will be paid based on interchange fees for Visa and Mastercard card transactions from 2004 to 2019. The amount depends on claims, claims value, class administration, tax expenses, attorney fees, and money awards for Class Plaintiffs’ representation in MDL 1720.
How can I file a Capital One Settlement Claim 2024?
Let’s breakdown the step by step process of claiming the iCapital One Settlement Claim form online or by mail:
- On December 1, 2023, claim forms were mailed to all known class members. They also mailed sporadically after that.
- To file your claim, you can use the secure website credentials listed on your claim form and scan the QR code found on the claim form you received.
- If you have received the claim form, go to the official website and find an option that says “submit a claim” then hit it.
- In order to examine your transaction fee information and register a claim, you can input the Claimant ID and Control Number found in the middle of the Claim Form that was mailed to you.
- Additionally, you can submit your TIN and a few more details on the official website to have the Class Administrator try to ascertain whether you are a merchant qualified to submit a claim in this Settlement if you do not have a Claimant ID and Control Number.
- Your claim must be submitted online or offline before August 30, 2024, at 11:59 p.m. PST.
- Mailing the claim form is another valid method to:
- Payment Card Interchange Fee Settlement P.O. Box 2530 Portland, OR 97208-2530
- The Class Administrator will review your claim after it is submitted, and you will be contacted if more information is required from you. Accurate processing of claims may take a considerable amount of time.
- It is your responsibility to notify the Class Administrator of any changes to your contact information or address, and you can do so by sending an updated copy of your information to the same above-mentioned postal address.
How can I check the status of the Capital One Settlement 2024 Claim?
If you want to check the status of the Capital One Settlement 2024 Claim then follow the below process:
- Go to the https://www.paymentcardsettlement.com/
- Here you may be asked about your username and password, put it down, fill up the captcha, and then tab login.
- Within some seconds, you will find the status of your Capital One Settlement 2024 Claim.
- You will find this status as N/A, approved, under review, rejected, deficient, or conflict.
To Get Relevant Information. Go to NCBLPC Homepage.