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Fed-up Visa and Mastercard users can score a slice of a multimillion-dollar ATM lawsuit.
The two major payment networks have agreed to pay a combined $167.5 million after users claimed they were charged high access fees for cash withdrawals at an independent ATM (automated teller machine that is not owned by Visa, Mastercard, any bank or other financial institution).
When cardholders use an ATM not associated with their bank, they must pay a pesky surcharge or “access fee” to withdraw money from their accounts.
Networks — which are owned by companies like Visa and Mastercard — enable the transactions and connect the ATM to the cardholder’s bank.
Folks are claiming that the operating rules are price fixing, as cardholders have paid higher access fees to use the independent ATMs than they should have. Charging different ATM fees is a violation of federal and state antitrust laws.
Visa and Mastercard have denied any wrongdoing but have agreed to settle the case. Visa has agreed to pay $88,775,000, while Mastercard has agreed to fork over $78,725,000.
Those who qualify will receive a share of the net settlement fund based on how many eligible surcharged transactions they submit.
Those who were charged an access fee for a cash withdrawal at an independent ATM between Oct. 24, 2007, and Aug. 14, 2026, and were not fully reimbursed by your bank are eligible.
Just note that individuals from California, Illinois, Massachusetts and Michigan are included as separate statewide classes.
To be considered for the cash, you must submit a claim by Feb. 10, 2027 and it can be done two ways — online or by mail.
Those who file a claim will need to provide bank statements, receipts or other documentation of qualifying transactions.
The court will hold a hearing on Feb. 17, 2027, to decide whether the settlement is approved. If accepted, payments will likely be sent out within six months and sent to those eligible digitally, via email.
