As a filing date approaches, new details are emerging in a proposed $167.5 million settlement of a class action lawsuit that involves Visa and Mastercard.
According to a court-authorized settlement website, consumers who withdrew cash from independent ATMs between Oct. 24, 2007 and Aug. 14, 2026 are eligible to file a claim to seek a share of the payout, USA Today reported.
The deadline to file a claim is Feb. 10, 2027. A court hearing is scheduled for Feb. 17, 2027, to determine whether the settlement will be approved, according to the newspaper.
Visa is slated to pay $88.775 million while Mastercard will pay $78.725 million, which will be sent to a settlement fund that will be used to pay people who were hit by the fees.
The lawsuit was filed in 2011 and accused the companies of preventing independent ATM operators from charging lower fees.
Read the lawsuit here.
[ Visa, Mastercard agree to $167.5M ATM fee class action settlement ]
The case, Burke v. Visa Inc., alleges that Visa and Mastercard rules restricted how independent ATM operators could set their access fees.
Independent ATMs are defined as machines not owned by banks or other financial institutions. They are typically found in convenience stores, hotels, bars and gas stations.
The plaintiffs allege the rules prevented those independent operators from offering lower fees when transactions could be processed through competing networks, USA Today reported. The result was higher costs for consumers, according to the newspaper.
Visa and Mastercard have denied the allegations and agreed to settle without admitting liability, USA Today reported.
The amount of cash distributed to each person will depend on how many valid claims are received and how many qualifying transactions are reported, according to the newspaper.
The official settlement website provides the claim form and additional information. Consumers can also call the settlement administrator at 866-893-1052.
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