If you’ve used a Visa or Mastercard debit card at an ATM in the past, you might be entitled to a hefty payout. A recent court ruling has ordered Visa and Mastercard to refund millions of dollars to consumers who were charged illegal ATM fees. Eligible users could receive as much as $1,797 in direct payments!
What’s This Settlement About?
For years, banks have been charging extra fees when customers withdraw cash from ATMs using Visa or Mastercard debit cards. A lawsuit found that these surcharges were unfair and violated consumer protection laws.
As a result, Visa and Mastercard have been ordered to refund a combined total of $197 million to affected customers. The settlement applies to ATM withdrawals made between October 1, 2007, and July 26, 2024.
Visa is responsible for $104.6 million in refunds, while Mastercard will pay $92.8 million to users who were wrongly charged.
Who Can Get the Money?
Not everyone qualifies for the refund, but you may be eligible if:
- You used a Visa or Mastercard debit card at a U.S. ATM.
- You were charged a non-refundable ATM surcharge between October 1, 2007, and July 26, 2024.
- The ATM was operated by a major bank in the Visa or Mastercard network, such as Bank of America, Wells Fargo, or JPMorgan Chase.
If you meet these criteria, you could be entitled to a refund of up to $1,797.
How to Claim Your Refund
If you think you qualify, here’s how to claim your money:
- Go to the Official Website – Visit paymentcardsettlement.com to start the claim process.
- Fill Out the Claim Form – Provide your personal and transaction details. You can complete the form online or mail a printed copy.
- Certify Your Information – You’ll need to sign a statement confirming the accuracy of your claim.
While you don’t need to submit receipts or bank statements immediately, officials may request proof later.
Deadline to File Your Claim
You must submit your claim by January 22, 2025 to receive your refund. The final court hearing for this settlement will take place on January 24, 2025, after which payments will be distributed.
Why This Matters
This ruling is a huge win for consumers, ensuring they are compensated for years of unfair ATM fees. It also puts pressure on major financial institutions to be more transparent about their fees and charges in the future.
If you’ve ever withdrawn money from an ATM and noticed a surprise fee, now is your chance to get that money back. Don’t miss out—check if you’re eligible and file your claim before the deadline!
