After an unprecedented legal ruling, Visa and Mastercard must send a refund of $1,797 to more than one million affected customers. Although people have gone through a series of additional payments that were not theirs to pay, they will be benefiting from a court ruling. Thus, as part of the agreement, they have to allocate a total of $197 million dollars to users who went through the ruling, whether they were Visa or Mastercard. Learn more about what the case is about and if you are one of the lucky ones who will receive the nearly $2,000 in your bank account.
More than $197 million returned to affected parties
Visa and Mastercard, as established by the U.S. court, have charged an illegal additional payment when withdrawing cash to a multitude of people who have the banking service of their brands. Although the penalty is similar, Visa had to pay a total of 104 million dollars, while Mastercard had to pay 92 million dollars. To be among the recipients of the 1,797 dollars, it is not enough to have withdrawn cash at ATMs during the last time, but you will have to overcome a series of requirements that will serve as a filter for the economic compensation.
After several judicial turns, it seems that the companies opted to allocate the money and compensate those affected so as not to reach the litigation that prolongs the problem in the courts of the United States. As for the requirements to be met by Visa or Mastercard customers to be rewarded, the most important has to do with having used the ATM between October 1, 2007 and July 26, 2024. Whether they used one of the banks involved, JPMorgan Chase, Wells Fargo or Bank of America, they must have used the ATM between October 1, 2007 and July 2024.
How to access the bank refund
In the first instance, you will have to check if you are part of those affected, as specified by the Top Class Actions site with a follow-up of the case and a database of those involved. Through this class action, it has been found that many were unaware that the additional payment was made in each transaction, so they may receive the payment of almost $2,000. Then, it is important that you fill out the form on the page and download it, and send it to the following address: ATM Surcharge Settlement, P.O. Box 170500, Milwaukee, WI 53217.
Remember to hurry with the mailing, as the deadline for Visa and Mastercard rebate application is January 23, 2025. So, if you are a victim and do not submit your refund request after this date, you will not be compensated in any legal way possible. However, there is still time to get justice for the illegal payment of excessive fees without consent. The final hearing to approve the settlement will be held by the end of January 24, 2025, so we will soon have the final result of the list of victims to be compensated with $1,797 in a lump sum payment.
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