Visa & Mastercard $197.5 Million ATM Surcharge Settlement

If you paid an unreimbursed surcharge to withdraw cash from a bank ATM in the United States between October 1, 2007, and July 26, 2024, you may be eligible to claim compensation from a class action settlement.

Visa and Mastercard have agreed to pay $197,500,000 to settle a class action lawsuit for allegedly inflating ATM surcharges through anti-competitive practices.

Who can file a claim?

To be part of the settlement class, you must meet specific criteria:

• You must have paid an unreimbursed ATM access fee directly to Visa and/or Mastercard
• The transaction should have been a foreign ATM transaction using an ATM card issued by a U.S. financial institution.
• The transaction must have occurred between October 1, 2007, and July 26, 2024.

Foreign ATM transactions refer to those where the cardholder uses an ATM owned by a different entity than the one that issued the ATM card. For instance, withdrawing money from an ATM operated by a different bank qualifies as a foreign ATM transaction.

How much can class members get?

The settlement fund will be distributed to class members who submit valid claims. The amount each claimant receives will be a pro rata share of the net settlement fund after deductions for attorneys' fees and other expenses.

If you previously filed a claim and received a payment in earlier settlements, you are automatically eligible for a payment from this settlement based on your prior claim. If you paid additional ATM surcharges after your prior claim, you will need to submit another claim to include those transactions.

• Previously Filed Claims: Automatically eligible for payment.
• New Claims: Must submit a claim to receive payment.

The exact amount each class member will receive depends on the total number of valid claims submitted. Since the settlement is distributed on a pro rata basis, the more claims there are, the smaller the individual payouts will be. For example, if the net settlement fund is $150,000,000 after expenses, and there are 1,000,000 valid claims, each claim would receive $150.

How to claim an award

To claim an award, you can file a claim online or download a PDF claim form and mail it to the settlement administrator:

ATM Surcharge Settlement

P.O. Box 170500

Milwaukee, WI 53217

Payout methods

• Digital payment options such as PayPal or a virtual debit card
• Option to request a paper check

Settlement fund breakdown

The settlement fund of $197,500,000 will cover payments to class members, attorneys' fees, and other expenses. Class lead counsel will seek up to 33% of the settlement amount for attorneys' fees, along with reimbursement for litigation costs.

• Attorneys' Fees: Up to 33% of $197,500,000
• Service Awards: Up to $10,000 for each class representative
• Remaining Funds: Distributed to class members

Important dates

• Fairness Hearing: January 23, 2025
• Deadline to File a Claim: January 22, 2025

When is the ATM Surcharge Settlement payout date?

The court will hold a fairness hearing on January 23, 2025, to decide whether to approve the settlement. If approved, payments will be distributed to eligible claimants within six months after the court grants final approval, assuming no appeals are filed.

Why is there a class action settlement?

The lawsuit alleged that Visa and Mastercard engaged in anti-competitive practices that inflated ATM surcharges. The defendants deny these allegations but agreed to settle to avoid the costs and uncertainty of a trial.