A major financial settlement could soon put money back into the hands of everyday Americans. If you used a Visa or Mastercard debit card at any ATM in the U.S. between October 1, 2007, and July 26, 2024, you may be eligible for a direct payment of up to $1797.
This class-action lawsuit—one of the largest involving consumer banking fees—accuses big banks and card networks of working together to fix ATM access fees. Though Visa and Mastercard deny wrongdoing, they’ve agreed to a combined $197 million settlement to resolve the claims.
Now, both individuals and businesses who paid out-of-network ATM fees during the qualifying period may be able to file a claim and receive compensation. Here’s a simple, detailed guide to help you understand how this works, how much you could get, and how to file your claim.
Why Was This Lawsuit Filed Against Visa, Mastercard, and Big Banks?
At the center of this case is the allegation that Visa and Mastercard engaged in anti-competitive behavior. The plaintiffs claim that these companies, in collaboration with major banks like JPMorgan Chase, Bank of America, and Wells Fargo, created rules that stopped ATM operators from charging lower fees.
Under normal market conditions, ATM surcharges are supposed to be set by the ATM’s owner. But according to the lawsuit, Visa and Mastercard allegedly used their power to enforce agreements that kept fees high across the board.
The result? Consumers and small businesses had no choice but to pay more when withdrawing money from out-of-network ATMs—fees that could range anywhere from $2 to $5 per transaction.
What This Settlement Means for You
This isn’t just a win for lawyers or financial experts—it’s a win for everyday people who use debit cards. Whether you withdrew money once a year or every week, you may have been overcharged without knowing it.
Importantly, you can still claim your part of the settlement even if:
- You’ve since changed banks
- You no longer have the same card
- You no longer live in the U.S.
As long as you used a Visa or Mastercard debit card during the covered dates at a U.S. ATM and paid a fee, you likely qualify.
Payout Per Person: How Much Can You Expect to Receive?
The estimated maximum payout per person is $1797, but the final amount you receive depends on:
- How many qualifying ATM transactions you made
- The amount of surcharge fees you paid
- How many other people submit valid claims
Here’s an example:
If you withdrew cash twice a month for five years using out-of-network ATMs and paid $3 per transaction, you would have paid around $360 in fees. Multiply that over the entire period and your total could be well over $600—possibly more. That’s money you could now get back.
Timeline: When Will You Receive the Money?
The court has not yet given final approval for the settlement, but it is expected by mid to late 2025. After that, payments will begin to go out.
Once the claim deadline is announced (also expected in 2025), consumers will likely have several months to file. After the deadline, it may take additional time to verify and process claims.
So, while the payout may not happen immediately, submitting your claim early ensures you’re first in line when funds are distributed.
Step-by-Step Guide: How to Claim Your $1797 Payment
The claim process is simple and free. Here’s how to do it:
Step 1: Check If You’re Eligible
You qualify if:
- You used a Visa or Mastercard debit card
- The transaction happened at a U.S. ATM
- It occurred between October 1, 2007, and July 26, 2024
- You paid an ATM fee and didn’t get reimbursed
Step 2: Go to the Official Settlement Website
Visit: www.atmfeeslitigation.com
This is the only official website. Be careful of fake pages or social media ads asking for money or personal info.
Step 3: Complete the Online Claim Form
You’ll need to enter:
- Your full name, address, and contact info
- The name of the bank that issued your debit card
- If possible, include old bank statements or ATM receipts (not mandatory but helpful)
Step 4: Select Your Preferred Payment Method
Choose how you’d like to receive your payment:
- Direct deposit to your bank account
- Paper check mailed to your address
- Prepaid debit card
Step 5: Sign Up for Email Updates
Once you submit your claim, sign up for updates so you’ll know when the court approves the settlement and when payments begin.
Which Banks Were Involved in the Case?
The lawsuit includes many major banks that either operated ATMs or participated in setting the disputed fees. These include:
- JPMorgan Chase
- Bank of America
- Wells Fargo
- Citibank
- U.S. Bank
- PNC Bank
These institutions were part of the network arrangements that allegedly prevented ATM fee competition, leading to higher costs for everyone.
No Lawyer Needed: You Can File a Claim on Your Own
Many class-action settlements can seem complicated, but this one is designed to be easy. You don’t need a lawyer or financial adviser to submit your claim. Just follow the instructions on the official site.
Also, be aware of scams—you should never have to pay to file a claim or give out sensitive information to unofficial websites.
What If You Don’t Have Old Bank Statements?
While it’s ideal to provide documentation, you can still file a claim without it, especially if you had accounts with the same bank for a long time. Settlement administrators may be able to match your name and account details against records provided by the banks.
It’s always a good idea to check any digital records you have, like:
- Online banking history
- Downloaded PDFs from old banking apps
- Physical receipts or emails confirming ATM withdrawals
Tips to Make Sure You Get Your Payment
Here’s how to stay on track and make sure you don’t miss out:
- Bookmark the official claim website and check it regularly
- Use a valid email address when filing your claim
- Avoid missing deadlines by filing as soon as the claim window opens
- Let your friends and family know—especially those who may not be active online
The more people who are aware of this, the more consumers can benefit from money that rightfully belongs to them.
Will This Change the Way Banks Handle ATM Fees in the Future?
Possibly. Legal experts say this lawsuit could lead to more transparency and fairness in ATM fee policies. It may also open the door for:
- Lower out-of-network ATM charges
- More competition between ATM operators
- Greater regulation of surcharges
In response, banks may update their terms or reduce fees to avoid future legal trouble. Consumers, meanwhile, are becoming more aware of hidden charges—something that could pressure financial companies to act more fairly.