Visa and Mastercard Users Could Receive Up to $1,797: If you have ever used a Visa or Mastercard debit card at an ATM in the U.S. between October 1, 2007, and July 26, 2024, you may qualify for a direct payment of up to $1,797. This settlement stems from allegations that major banks unfairly charged excessive ATM fees, violating consumer rights.
This guide will walk you through everything you need to know, including eligibility criteria, how to claim your money, and when you can expect to receive your payment.
Understanding the Visa and Mastercard Settlement
Visa and Mastercard, along with several major banks, have agreed to a $197 million settlement to resolve claims of anti-competitive ATM fees. The lawsuit alleged that these financial giants conspired to fix ATM surcharge fees, forcing consumers and businesses to overpay when withdrawing cash from out-of-network ATMs.
Key Settlement Details
| Factor | Details |
|---|---|
| Total Settlement Amount | $197 million (Visa: $104.6M, Mastercard: $92.8M) |
| Eligible Period | October 1, 2007 – July 26, 2024 |
| Who Can Claim? | Individuals and businesses who paid ATM fees using a Visa/Mastercard debit card in the U.S. |
| Estimated Payout Per Person | Up to $1,797 (based on transactions and fees paid) |
| Participating Banks | JPMorgan Chase, Wells Fargo, Bank of America, and others |
| Claim Deadline | Expected mid-2025 (finalized by court) |
How to Claim Your $1,797 Settlement Payout?
Filing a claim is simple and does not require legal assistance. Follow these steps to ensure you get your fair share:
Step 1: Check Your Eligibility
You may qualify if:
- You used a Visa or Mastercard debit card at a U.S. ATM.
- Your transaction took place between October 1, 2007, and July 26, 2024.
- You paid an ATM surcharge fee that was not refunded.
Step 2: Visit the Official Settlement Website
Go to www.atmfeeslitigation.com to start your claim. Be cautious of scam websites or third-party services asking for payment to file on your behalf.
Step 3: Fill Out the Claim Form
You’ll need to provide:
- Your full name and contact details
- The name of your bank (e.g., Wells Fargo, Chase, etc.)
- Proof of transactions (bank statements, ATM receipts – optional but helpful)
Step 4: Choose Your Payment Method
Once your claim is approved, you can receive your payout via:
- Direct deposit
- Paper check
- Prepaid debit card
Step 5: Stay Updated
The final court approval is expected in late 2025. Sign up for email notifications on the official settlement website to track updates.
Which Banks Are Involved in the Settlement?
The lawsuit targeted several major U.S. banks that allegedly participated in fixing ATM fees. These include:
- JPMorgan Chase
- Bank of America
- Wells Fargo
- Citibank
- U.S. Bank
- PNC Bank
How Much Will You Actually Receive?
Your payout amount depends on:
- The number of ATM transactions you made during the eligible period.
- The surcharge fees you paid per transaction.
- The total number of valid claims filed.
For example, if you withdrew money twice a month for five years from an out-of-network ATM and paid a $2.50 surcharge each time, you could have spent over $300 in excessive fees. The settlement is designed to compensate those unfairly charged.
When Will You Receive Your Payment?
Class-action settlements typically take time to process. While the final approval is expected by late 2025, funds may take several months to be distributed. Stay patient, and make sure you monitor the email address you use for your claim.
Avoid Scams – File Your Claim Safely
To ensure you successfully claim your share:
- Only use the official settlement website: www.atmfeeslitigation.com
- Do not pay anyone to file your claim – it is free.
- Ignore emails or messages from unofficial sources promising faster payments.
Will This Settlement Impact Future ATM Fees?
This lawsuit could lead to changes in ATM fee policies, forcing banks to be more transparent. Some financial institutions might lower their fees or revise their pricing structures to avoid future litigation.
Additionally, smaller banks and fintech companies could see this as an opportunity to provide more competitive low-cost ATM options.
FAQs
1. Can I claim if I closed my bank account?
Yes! As long as you meet the eligibility requirements, you can file a claim even if your bank account is no longer active.
2. Can I file if I live outside the U.S.?
No. Only transactions that took place within the United States qualify.
3. Do I have to pay to file a claim?
No. Filing a claim is 100% free.
4. Can businesses file claims?
Yes. If your business incurred ATM surcharge fees, you can file a claim just like an individual.
5. How will I know if my claim is approved?
You will receive an email or letter from the settlement administrator confirming your claim status.
Final Thoughts – Don’t Miss Out on Your Settlement Money
This settlement is a major victory for consumers and businesses affected by excessive ATM fees. If you qualify, don’t miss this opportunity to reclaim your money.