Visa-MasterCard Class Action Settlement 2025 – Check Your Eligibility for a $2,000 Refund

Visa-MasterCard Class Action Settlement 2025: One topic is trending in US. Americans are waiting for the $200 million settlement as a result of VISA & MasterCard settlement for a class action lawsuit that accused them of levying illegal ATM withdrawal fees. In this case the eligible customers are going to get a refund of $2,000 as their claim settlement. This lawsuit is based up on the transactions happened from 2007 to 2024. The complaint was about that both companies are engaged in fraudulent practices by collaborating with major banks to sustain inflated ATM surcharge fees which ultimately impacted millions of consumers. When the case was filed, court procedures was done.

The court found that these two companies, Visa and MasterCard violated consumer rights by charging non-competitive fees without sufficient transparency. So as a settlement court has ordered Visa to pay $104.6 million and MasterCard will contribute $92.8 million. This was needed to set an example for other market players for fair financial practices and strong consumer protection in the banking sector.

In this article you are going to witness important details about the Visa-MasterCard Class Action Settlement 2025. It includes how to check if you qualify for a $2,000 refund then the refund amounts and other important information. In past years there have been most of court settlements have done related to claims on Visa and MasterCard. They have imposed excessive fees on both consumers and merchants.

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Reasons behind the Visa-MasterCard Class Action Lawsuit:

• The lawsuit was about the unfair ATM withdrawal fees by the VISA and MasterCard.
• The claim was about that, these companies along with many big players like JPMorgan Chase, Wells Fargo and Bank of America have charged excessive surcharges.
• Customers have made complaint about that these fees were applied to regular transactions which had led to breaching antitrust laws and increasing costs.
• After the complaint, Visa and Mastercard were agreed upon the settlement demanded by the court to reimburse affected customers and change their fee structures to avoid future issues.
• How the class action has started? Its all started from claims that ATM operators faced restrictions from Visa and Mastercard.
• Between 2007 and 2024, this lawsuit gained hype as the users and the advocates have called to clear the ATM fee structures.
• The consumers were irritated and bearded loss from these high surcharges and raising consumer costs.

The amount of Visa-MasterCard Class Action settlement:

• The settlement amount is total of $264.24 million from which $197.5 million is from Visa and Mastercard.
• ATM surcharge settlement was done at $66.74 million before.
• From that $197.5 million, Visa will pay $104.6 million and Mastercard will contribute $92.8 million.

Who are eligible for Visa-MasterCard Class Action Settlement 2025?

To claim the settlement money, at first the applicants have to check the eligibility.

• All the users of the U.S who have used Visa and/or Mastercard transactions from 1^st October 2004 to 26^th of July, 2024 are eligible to claim.
• You are eligible if you have incurred a surcharge for withdrawing cash from a bank ATM in the U.S. this duration of time.
• And you will not qualify if all your surcharged ATM transactions were refunded or if they were made using cards from banks outside the U.S.
• If you have already made a claim and got the payment, then you might not need to take any further action to get payment from the new settlement as your details should be on record with the settlement administrators.
• And if you haven’t got the payment after paying the additional qualifying ATM fees after your previous claim then also you may need to take action.
• Make sure to check the class action notice for details on qualifying fees.

Deadline of submitting the claim:

• If you haven’t participated in the claiming process before then you can apply and submit your claim by January 22, 2025 which is now over.
• For more information on how to file a claim and to check your eligibility just visit OpenClassActions.com.
• Proper documentation is needed to go through the refund procedure.
• The claimants have to visit the official website i.e. www.ATMClassAction.com to request a refund.
• You can claim the refund by completing the online form or can do one thing that you can download it and fill then can mail it to the representative.
• You have to keep your documentation ready. It includes your bank statements or ATM transaction receipts that indicate the surcharge fees on hand.
• You should give all the correct information including the date of transaction, and the type of card you are using and also the locations of the ATMs used.
• Remember to keep a copy of the completed form and any documents you submit for your records.

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Conclusion: Visa-MasterCard Class Action Settlement 2025

We can say that the half settlement money is settled previously. On an average from the total of $264.24 million, $66.74 million was received by the claimants. The recovery of single damages ranging from 23% to 38% is impressive. Apart from the complexities and ongoing challenges of this antitrust case, that much amount was settled that is great. The automatic eligibility for previous claimants and a straightforward process for new claims will encourage significant participation in the settlement benefits. Although the agreement has its flaws, it provides substantial and guaranteed compensation now by avoiding the unpredictability of a certified class trial.