$197.5 Million ATM Fee Settlement: How to Get Your Share of the Refund!

A massive $197.5 million settlement has been reached with Visa and Mastercard over allegations that they conspired to inflate ATM surcharge fees, violating federal antitrust laws. This settlement follows earlier agreements totalling $67 million with major banks like JPMorgan Chase, Wells Fargo, and Bank of America. If you used ATMs between October 1, 2007, and July 26, 2024, you may qualify for compensation.

Who Can Claim Part of the $197.5 Million?

To qualify for a payout from this settlement, you must meet these criteria:

1. Time Frame: You must have incurred unreimbursed ATM fees during the eligibility period between October 1, 2007, and July 26, 2024.
2. Network Usage: The ATM transaction must have been processed on a Visa or Mastercard network.
3. No Reimbursements: Only those who were not reimbursed for the ATM fees they paid are eligible to claim part of the settlement.

If you previously filed claims in the earlier related settlements, you might still be eligible to participate in this settlement if you incurred additional fees after your last claim.

When and How to File a Claim

The deadline to submit a claim is January 22, 2025. Here’s how you can file:

1. Existing Claimants: If you participated in prior settlements, your eligibility automatically extends to this settlement. However, you’ll need to submit updated information if you incurred new ATM fees since filing your last claim.
2. New Claimants: If you’re filing for the first time, visit atmclassaction.com to access the claim form.
3. Documents: While initial claims typically don’t require supporting documents, it’s recommended that you keep records of ATM transactions and fees, as proof may be requested.

Settlement Distribution and Payments

The $197.5 million fund will be distributed proportionally based on the number of valid claims submitted. Payments will vary depending on how many eligible fees each claimant paid during the covered period.

After a final approval hearing on January 23, 2025, payments will begin. However, the timeline for distribution may depend on the volume of claims received.

Why This Settlement Matters

This settlement addresses claims that Visa and Mastercard used their influence to maintain high ATM surcharge fees, impacting millions of consumers and businesses. It provides a chance for those affected to recover money lost to excessive ATM charges over nearly two decades.