Proposed Settlement for Non-Bank ATM Users Could Bring Compensation for Millions

Major Settlement Proposed for Users of Non-Bank ATMs

Finkelstein Thompson LLP and Lovell Stewart Halebian Jacobson LLP recently announced a significant proposed settlement that could affect many individuals who withdrew money from non-bank ATMs and were charged fees. This initiative centers around a $167.5 million settlement related to a class-action lawsuit involving major players in the credit card industry — Visa and Mastercard.

What is the Settlement About?

The lawsuit claims that Visa and Mastercard violated competition laws by enforcing operational standards that restricted independent ATM operators from setting differentiated surcharge fees for cash withdrawals. Essentially, these restrictions prevented a competitive landscape where operators could offer lower fees, forcing consumers to pay more for accessing their own funds.

Visa and Mastercard have denied the accusations. They maintain that they have operated within legal boundaries and dispute any wrongdoing. Despite their denial, the proposed settlement aims to resolve the allegations and provide compensation to affected consumers.

Who is Eligible?

You may be included in the settlement if you are a resident of the United States and have incurred an access fee when withdrawing cash via a non-bank ATM or using a debit card with a PIN at an independent ATM. However, this is applicable only if this occurred between October 24, 2007, and August 14, 2026, and you did not receive a full refund from your bank. Specific state-level classes may also apply for residents of California, Illinois, Massachusetts, and Michigan.

To determine your eligibility and receive potential compensation, it is recommended you visit the official website: www.NonbankATMSurchargeSettlement.com. It contains comprehensive details about the case and the criteria for inclusion in the settlement.

Breakdown of the Settlement Funding

As part of the settlement, Visa is expected to contribute approximately $88.775 million, while Mastercard will add about $78.725 million. After deducting legal fees, administrative costs, and other expenses, the remaining funds will be distributed among those eligible plaintiffs proportionally.

How to Claim Your Portion

If you qualify, claims can be submitted online or via postal mail. Make sure to send the completed claim form with a postmark by February 10, 2027. Notably, individuals have the right to opt-out of the settlement if they wish to pursue their independent claims against Visa and Mastercard, provided they do so before December 11, 2026.

Individuals can also object to the settlement if they disagree with its terms, and detailed information on how to do this is available on the settlement website.

Court Hearing and Final Approval

The District Court will hold a hearing on February 17, 2027. The court will review whether to approve the settlement, including the request for attorney’s fees, reimbursement of costs, and a service compensation of up to $17,500 for each class representative. Interested parties, including consumers or their attorneys, may attend the hearing, although they are responsible for their own expenses.

Overall, individuals who have paid fees at non-bank ATMs may find this settlement to be a crucial opportunity for compensation. Keeping track of deadlines and understanding the rights of participation in the case are vital for those affected. For more details, prospective claimants can contact 1-866-893-1052 or visit the official website.

Stay informed to ensure you don’t miss out on your potential compensation from this substantial settlement effort!