Claim Form Deadline: January 22, 2025
Payout Amount: Varies
Proof Required: No
A $264.24 million class action settlement has been reached, including a $197.5 million agreement with Visa and MasterCard over ATM surcharges and fees that allegedly breached federal consumer protection laws. This settlement addresses claims that consumers were overcharged when using their Visa or MasterCard debit cards to withdraw money from ATMs, due to surcharges or “interchange” swipe fees.
The lawsuit alleged that Visa, MasterCard, and various banks violated federal antitrust laws by implementing practices that increased ATM surcharges (also known as ATM access fees) for consumers and businesses.
Visa, MasterCard, and the involved banks deny these allegations, and the court has not yet ruled on the matter. However, the settlement is now open for claims. Previously, there was a $66.74 million settlement with JP Morgan, Wells Fargo, Bank of America, and other major U.S. banks, which resulted in payments of nearly $2,000 to some individual consumers.
This class action lawsuit accuses Visa, MasterCard, and their member banks of:
Setting interchange fees (also called “swipe fees”) at artificially high levels.
Imposing rules that restricted merchants from directing customers to alternative payment methods, including no-surcharge, no-discounting, and honor-all-cards rules.
Using these practices to avoid competitive pressure and maintain high fees for consumers.
What is the Total Settlement Amount?
The total settlement amount is $264.24 million. This includes $197.5 million from Visa and MasterCard—Visa contributing $104.6 million and MasterCard $92.8 million. Additionally, there was a previous $66.74 million settlement with several major U.S. banks.
How Do I Qualify for a Payout?
You may be eligible if you paid a surcharge to withdraw cash from a bank ATM in the U.S. between October 1, 2007, and July 26, 2024. Claims are not accepted if all your surcharged ATM transactions were reimbursed or if you used cards issued by non-U.S. financial institutions. If you have previously filed a claim and received payment, you do not need to take further action unless you incurred additional surcharges after your previous claim.
How Do I Find Class Action Settlements?
To discover all available Class Action Settlements you might qualify for and to receive notifications about new lawsuits, please provide your email address below:
How Much Can I Get Paid?
The exact payout amount is not specified. It will depend on factors such as the number of valid claims and the total amount of ATM surcharges you paid.
What is the Deadline to File a Claim?
If you did not file a claim in previous settlements, you must submit your claim by January 22, 2025, to be eligible for the $197.5 million class action settlement with Visa and MasterCard.
Do I Need Proof to File a Claim?
You do not need to provide documentation when filing your claim. However, the Claims Administrator may request additional proof later. You will need to swear under oath that you were charged ATM surcharges.
Claim Form Website: AtmClassAction.com
Filing Class Action Settlement Claims
Please be aware that claims submitted with fraudulent information will be rejected. By submitting your claim and sworn statement, you agree to do so under penalty of perjury and acknowledge that fraudulent claims harm other eligible participants. For questions about your eligibility, visit the class action administrator’s website. NoProofClassActions.com provides information only and is not an administrator or law firm. NoProofClassActions participates in affiliate advertising program, and this post may contain affiliate links that could earn us a commission.