$1,797 Payout Alert: Are You Eligible for This Visa and Mastercard Settlement?
If you’ve used a Visa or Mastercard debit card in the past decade, you could be entitled to a direct payment of up to $1,797 as part of a major settlement. This is the result of a $197.5 million settlement that Visa and Mastercard have agreed to pay to resolve claims that they unlawfully inflated ATM fees for customers.
The settlement addresses allegations that the companies, along with major banks like JPMorgan Chase, Wells Fargo, and Bank of America, violated federal antitrust laws. While the defendants have not admitted to any wrongdoing, they agreed to the settlement to put the lawsuit to rest.
Who Qualifies for the Settlement?
To be eligible for a payout, you must meet these criteria:
- You used a Visa or Mastercard debit card to withdraw money from an ATM between October 1, 2007, and July 26, 2024.
- You were charged and paid an unreimbursed ATM access fee during this period.
- The ATM transaction involved a bank within the Visa or Mastercard network, such as JPMorgan Chase, Wells Fargo, or Bank of America.
How to File Your Claim
Filing a claim is straightforward, and here’s how you can do it:
- Gather Proof of ATM Fees: Collect your ATM receipts or electronic records showing you paid an unreimbursed ATM fee during the eligible period.
- Submit the Claim Form: Complete and file your claim form by January 22, 2025. You can do this online or by mail. The official settlement website has the form and detailed instructions.
- Wait for Confirmation: Once your claim is submitted, you’ll receive confirmation, and payouts will be distributed after final approval. The approval hearing is scheduled for January 23, 2025.
What to Expect in Payment
While the settlement outlines a potential payout of up to $1,797 per person, the actual amount may vary based on the number of claims submitted. The more claimants, the smaller the individual payments, so it’s important to file your claim as soon as possible.
Why This Matters
This settlement is a big win for consumers who were overcharged for ATM fees. It also serves as a reminder to stay informed about the fees associated with financial services and to advocate for transparency and fairness.
If you believe you qualify, act quickly to ensure you don’t miss out on your share of the settlement. Visit the official settlement website today to file your claim.
