If you’ve ever been frustrated by those hefty ATM fees, there’s good news—you may be eligible for a refund of up to $1,797. A recent $197 million settlement with Visa and Mastercard could mean a payout for millions of customers who were charged excessive out-of-network ATM fees between 2007 and 2024. Here’s everything you need to know about claiming your share of the money.
What Happened?
Visa and Mastercard, alongside major banks like JPMorgan Chase, Wells Fargo, and Bank of America, were found guilty of unfairly inflating fees for ATM withdrawals. When customers used ATMs outside their bank’s network, they were charged surcharges that the court ruled were excessive and violated federal antitrust laws.
These fees added up over time, and now affected customers are finally getting the chance to be compensated.
Who Can Get the Money?
To qualify for a payout, you must meet the following criteria:
- Used a Visa or Mastercard debit card: The transaction must have been between October 1, 2007, and July 26, 2024.
- Paid a non-refundable ATM surcharge: The fee must have been incurred when using an ATM outside your bank’s network.
- ATM from an eligible bank: The ATM you used was operated by one of the involved banks, such as JPMorgan Chase, Wells Fargo, or Bank of America.
If you meet these conditions, you’re likely eligible to receive compensation.
How to File a Claim
The process is simple, but you need to act quickly. Here’s how to file your claim:
- Visit the official settlement website: This site contains the claim form and details on eligibility.
- Complete the form: Provide your contact information and confirm you paid the surcharge during the eligible timeframe.
- Submit the form: You can do this online or mail it in, depending on the instructions provided.
When Is the Deadline to File?
You’ll need to file your claim by January 22, 2025. A final settlement hearing will be held on January 24, 2025, to determine the distribution of the funds.
How Much Could You Get?
Although the maximum potential payout is $1,797 per person, the actual amount will depend on how many people file claims. The settlement fund will be divided among all approved claimants, so the sooner you file, the better.
Why This Matters
This case is a major victory for consumers who have been overcharged for basic financial services. It sends a clear message to banks and payment companies: hidden or inflated fees will not go unchecked.
If you believe you qualify, don’t miss out on this opportunity. Take a few minutes to file your claim and get the refund you deserve. Visit the official settlement website today to start the process.
