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The US Sun
Americans to get piece of $197.5 million Visa & Mastercard settlement if they paid ATM fee – you just have to apply
By Alexandra Chomik,
5 hours ago
VISA and Mastercard customers are eligible to receive a portion of a massive $197.5 million settlement.
The settlement follows allegations that the digital payment companies charged unlawful surcharges on ATM transactions, like cash withdrawals.
Visa and Mastercard have agreed to pay nearly $200 million after allegedly violating anti-trust laws Getty Visa and Mastercard allegedly charged unlawful surcharges on ATM transactions, like cash withdrawals Getty
Current and former Visa and Mastercard debit and credit card holders may be eligible to receive a portion of the settlement.
They also could have paid the fee to banks that are or were members of the Visa and/or Mastercard ATM networks.
The unreimbursed ATM access fee must have been charged between October 1, 2007, and July 26, 2024.
The two companies agreed to pay the settlement after a lawsuit claimed they both allegedly violated federal antitrust laws.
Plaintiffs in the class action lawsuit claimed that banks and ATM networks “conspired to charge unlawful surcharges on ATM transactions,” as reported by Top Class Actions .
Visa and Mastercard have agreed to additional settlements to resolve any claims made against them.
Visa will contribute $104.675 million to the settlement fund, while Mastercard will contribute $92.825 million.
Altogether, the two companies agreed to pay out $197.5 million to settle the suit.
Under the terms of the settlement, class members are eligible to receive a cash payment.
What's a class-action settlement?
Class action lawsuits offer groups of people, or 'classes,' a way to band together in court.
These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.
When a suit becomes a class action, it extends to all “class members,” or people who may have similar complaints to those who filed the suit.
Companies often settle class actions – offering payment to class members who typically waive their right to pursue further legal action by accepting money.
These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.
Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company’s doorstep.
Because each payment is based on the ATM surcharges a customer paid during the class period, class members will likely receive varied payments.
Class members who previously filed a claim with one of the banking institutions above do not have to file another claim.
However, individuals who have not been reimbursed for their ATM fees, or who haven’t submitted previous claims, have until January 22, 2025 to submit a valid claim form.
Affected users who want to exclude themselves from the settlement must do so by November 22, 2024.
The final approval hearing for the ATM fee settlement is scheduled for January 24, 2025.
The settlement will likely be distributed sometime after the final approval hearing.
Neither Visa nor Mastercard immediately responded to The U.S. Sun’s request for comment.
How to file a claim
If you believe you're eligible to receive a portion of the Visa and Mastercard settlement, there are two ways to file a claim.
The easiest and most convenient way to file a claim is by doing so online.
Once you fill out the form with your contact information, you’ll be asked a series of questions regarding your ATM surcharges.
You’ll then be prompted to certify your document with your signature and the date.
You can then mail the Claim Form to:
ATM Surcharge Settlement P.O. Box 170500 Milwaukee, WI 53217
SETTLE UP
Visa and Mastercard may be some of the more recognizable companies to be faced with a class action lawsuit, but they’re not the only organizations that have had to shell out some serious settlement cash.
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