Visa and Mastercard have agreed on a landmark settlement of $197.5 million that addresses complaints of consumers who face surprise ATM fees. The class-action settlement is meant to compensate people who paid for ATM fees when they used ATMs run by Wells Fargo, JPMorgan Chase, or Bank of America which are included in the Mastercard and Visa networks. The settlement gives financial relief to the companies without requiring them to admit to any unethical practices, and it covers transactions from October 1, 2007 through July 25, 2024.
$197.5 Million ATM Fee Class Action Settlement
A class action lawsuit claims that the Visa and Mastercard networks improperly charged fees to ATM users. The companies settled and agreed to compensate victims rather than fight a long legal battle.
Under the settlement, Visa will pay $104.5 million and Mastercard will pay $92.8 million. This settlement guarantees that the affected consumers are paid fairly for fees not returned to them.
ATM Fees Settlement 2025 Details
| Department | JPMorgan, Wells Fargo, and Bank of America |
| Country | USA |
| ATM Fee Payment Period | October 1, 2007 to July 25, 2024 |
| Claim Submission Deadline | January 22, 2025 |
| Final Hearing Date | January 23, 2025 |
| Eligible Card Types | Visa and Mastercard |
| Beneficiary | Valid Claimants |
| Amount | $197.5M |
| Category | Government Aid |
| Official Website | atmclassaction.com |
Qualification Requirements for Award
Claimants must be U.S. residents only Residents must be U.S. residents, and ATM fees must be paid through the Visa or MasterCard system. The fees paid must be within the period of October 1, 2007 to July 25, 2024. In addition, the fees must be levied against an ATM network that is operated by Bank of America, JPMorgan Chase, or Wells Fargo. These eligibility criteria ensure that the people who are directly affected by unfair practices will be compensated.
Key Dates
Under the ATM Fee Class Action Settlement, affected individuals will be able to recover their losses. If you believe you are included, ensure that you meet all the requirements before the payment deadline. For more information and to file your claim, visit www.atmclassaction.com.
How to Apply for the $197.5 Million ATM Fee Class Action Settlement
To file a claim for the $197.5 million ATM fee class action settlement, you should first confirm whether you qualify for it.
Once confirmed that you qualify, proceed to the official website www.atmclassaction.com and get the claim form.
Fill the form with accurate information and any evidence required to support your claim on the ATM fees.
File your claim before the cut-off date of January 22, 2025.
FAQs
Q.Who is eligible for the ATM Fee Class Action Settlement 2025?
A.All U.S. residents who paid fees with a Visa or MasterCard at Wells Fargo, JPMorgan Chase or Bank of America ATMs between October 1, 2007 and July 25, 2024.
Q.What is the amount of the ATM fees class action settlement?
A.The settlement amount is $197.5 million, with Visa contributing $104.5 million and Mastercard contributing $92.8 million.
Q.Where do the class members claim the ATM fees class action settlement?
A.Class members can claim via the website available at www.atmclassaction.com until 22nd January 2025.