In response to consumer complaints regarding unexpected ATM fees, Visa and Mastercard have reached a significant settlement worth $197.5 million. The goal of the agreement is to compensate impacted parties who paid fees when using ATMs operated by Wells Fargo, JPMorgan Chase, or Bank of America that are part of the Mastercard and Visa networks.
This settlement provides financial relief without the companies’ acceptance of unethical practices and covers transactions from 1st October 2007 to 25th July 2024.
$197.5M ATM Fees Class Action Settlement
According to the class action lawsuit, ATM users were unfairly charged fees by the Visa and Mastercard networks. The companies chose to settle and agree to compensate victims rather than pursue a protracted legal battle.
Under the agreement, Visa has committed to paying $104.5 million, while Mastercard will contribute $92.8 million. This settlement ensures that affected consumers receive appropriate compensation for the non refunded fees they were charged.
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 |
Eligibility Criteria for Compensation
Claimants must be U.S. residents only and the ATM fees must have been paid with a Visa or Mastercard system in order to be eligible for a part of the ATM Fees Class Action Settlement 2025.
The eligible transaction period is from 1st October 2007 to 25th July 2024. Additionally, the fees had to have been paid via ATM networks related to Bank of America, JPMorgan Chase, or Wells Fargo. These eligibility requirements make sure that those who were directly impacted by the claimed unfair practices receive the compensation.
Key Dates to Remember
The $197.5M ATM Fees Class Action Settlement process has some crucial dates attached to it. The eligible ATM fee payment period starts from 1 October 2007 to 25th July 2024 and claim submission deadline is 22nd January 2025, and no exceptions will be made for late submissions. A final hearing will be held on 23rd January 2025, to complete the settlement process and ensure that all eligible claimants receive an equal amount of the compensation.
Impact of the Settlement
This ATM Fees Class Action Settlement 2025 is a significant victory for individuals affected by unauthorized ATM fees. It shows the importance of consumer protection and holding banks responsible for their business practices. Customers’ financial losses are partially restored by the settlement, which compensates those who paid unfair fees.
Affected individuals have a chance to recover their losses due to the ATM Fees Class Action Settlement. Make sure you fulfil the requirements before the payment deadline if you think you qualify, and for additional information and to submit your claim, go to www.atmclassaction.com.
How to Apply for $197.5M ATM Fees Class Action Settlement
- To file a claim for $197.5M ATM Fees Class Action Settlement compensation is to start by verifying that you meet the eligibility requirements.
- Once verified, access the settlement claim form on the official website at www.atmclassaction.com.
- Complete the form carefully, providing exact information and any necessary evidence of ATM fees paid during the eligible period.
- Before the strict deadline of 22nd January 2025, submit your claim under the ATM Fees Class Action Settlement.
FAQs on Visa, Mastercard Settlement
Who is eligible for the ATM Fees Class Action Settlement 2025?
US residents who paid ATM fees with Visa or Mastercard at Wells Fargo, JPMorgan Chase, or Bank of America from October 1, 2017, to July 25, 2024.
How much is the ATM Fees Class Action Settlement amount?
The settlement amount is $197.5 million, with Visa contributing $104.5 million and Mastercard contributing $92.8 million.
Where can I file a claim for the ATM Fees Class Action Settlement?
Claims can be filed on the official website (www.atmclassaction.com) before 22nd January 2025.
Robert is a finance writer with 3 years of experience. He writes about topics like finance, government aid, and market trends. His goal is to help readers understand financial concepts and make better decisions.
