Visa and Mastercard Users Could Get $1,797 – Find Out If You Qualify!
Visa and Mastercard have agreed to a $197.5 million settlement to resolve a long-standing class-action lawsuit over allegedly excessive ATM surcharges. As part of this agreement, eligible cardholders could receive up to $1,797 in direct payments.
The settlement stems from claims that Visa and Mastercard, along with major banks such as JPMorgan Chase, Wells Fargo, and Bank of America, colluded to inflate ATM fees, violating federal antitrust laws. The payments are intended to reimburse affected consumers and promote fairness in banking practices.
What Is the Settlement About?
The lawsuit alleged that Visa and Mastercard worked with major banks to impose unreasonable fees on consumers for withdrawing cash at ATMs. The plaintiffs argued that these surcharges unfairly enriched the financial institutions at the expense of customers.
To settle the claims without admitting any wrongdoing, Visa has agreed to pay $104.6 million, and Mastercard will contribute $92.8 million, creating a fund for reimbursement.
Who Is Eligible for the $1,797 Payment?
You may be eligible for a share of the settlement if:
- You used a Visa or Mastercard debit card at a U.S. ATM between October 1, 2007, and July 26, 2024.
- You paid an unreimbursed ATM surcharge during this period.
- The ATM transaction occurred at a machine within the Visa or Mastercard network.
How to Claim Your Payment
To receive your portion of the settlement, you must file a claim:
- Visit the Settlement Website: The official portal provides access to the claim form and additional information.
- Fill Out the Claim Form: Submit your contact information and declare that you incurred ATM surcharges during the eligibility period. While immediate proof is not required, retaining bank statements or receipts could expedite the process.
- Submit Your Claim: Claims can be filed online or by mail.
Deadlines to Remember
- Claim Filing Deadline: All claims must be submitted by January 22, 2025.
- Final Settlement Hearing: The court will finalize the agreement on January 23, 2025.
Why Does This Matter?
The settlement represents a significant victory for consumers, holding financial institutions accountable for allegedly exploitative practices. Millions of cardholders who have been overcharged for ATM withdrawals now have the opportunity to reclaim part of what they lost.
Act Now
If you think you qualify for the $1,797 payout, visit the official settlement website and file your claim before the January 22, 2025, deadline. Stay vigilant and ensure your submission is accurate to avoid delays in receiving your reimbursement.
This settlement is a step toward restoring fairness in banking practices and compensating consumers for years of inflated fees. Don’t miss your chance to claim what’s rightfully yours.
