Visa, Mastercard agree to pay combined $167.5m in ATM fee lawsuit – Electronic Payments International
The settlement is intended to benefit potentially millions of those who paid unreimbursed access fees for cash withdrawals at non-bank ATMs.
Visa and Mastercard have agreed to a combined payment of $167.5m to resolve a class action lawsuit concerning ATM access fees.
The proposed settlement was submitted to a federal court in Washington, US, and awaits judicial approval, reported Reuters.
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The settlement is intended to benefit potentially millions of individuals who paid unreimbursed access fees for cash withdrawals at independent, non-bank automated teller machines (ATMs).
Visa is set to provide around $88.8m, while Mastercard will contribute nearly $78.7m to a fund that will be distributed to eligible users with qualifying ATM transactions dating back to October 2007.
According to Reuters, neither the payment firms nor the lead attorneys for consumers provided immediate comment to requests for comment.
The case, filed in 2011, is said to be one of three related lawsuits in the D.C. federal court.
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According to Reuters, consumers challenged Visa and Mastercard’s industry rules, which allegedly prevented independent ATM operators from offering lower prices.
Both firms have denied any wrongdoing, Reuters reported.
In 2024, the two firms were said to have agreed to pay $197.5m to settle claims from another group of ATM users who said they were “overcharged” at bank-operated ATMs.
In 2021, multiple banks agreed to pay $66m to settle their part in the litigation, Reuters added.
Attorneys for the plaintiffs described the latest settlement in a court filing as “an excellent result in light of the risks of continued prosecution.”
They noted their intention to request up to 30% of the fund, or nearly $50m, in legal fees.
A third related lawsuit, brought by independent ATM owners and operators, remains unresolved in the same court.
Visa is also a defendant in other antitrust actions, including a case brought by the US Justice Department that accuses the company of monopolising the US debit card market. Visa has denied those allegations.
Last month, Visa and Mastercard reportedly reached a revised $38bn settlement with US merchants who alleged the card networks imposed excessive charges for processing credit card transactions.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Visa and Mastercard have agreed to a combined payment of $167.5m to resolve a class action lawsuit concerning ATM access fees.
The proposed settlement was submitted to a federal court in Washington, US, and awaits judicial approval, reported Reuters.
The gold standard of business intelligence.
Find out more
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Find out more
The settlement is intended to benefit potentially millions of individuals who paid unreimbursed access fees for cash withdrawals at independent, non-bank automated teller machines (ATMs).
Visa is set to provide around $88.8m, while Mastercard will contribute nearly $78.7m to a fund that will be distributed to eligible users with qualifying ATM transactions dating back to October 2007.
According to Reuters, neither the payment firms nor the lead attorneys for consumers provided immediate comment to requests for comment.
The case, filed in 2011, is said to be one of three related lawsuits in the D.C. federal court.
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
According to Reuters, consumers challenged Visa and Mastercard’s industry rules, which allegedly prevented independent ATM operators from offering lower prices.
Both firms have denied any wrongdoing, Reuters reported.
In 2024, the two firms were said to have agreed to pay $197.5m to settle claims from another group of ATM users who said they were “overcharged” at bank-operated ATMs.
In 2021, multiple banks agreed to pay $66m to settle their part in the litigation, Reuters added.
Attorneys for the plaintiffs described the latest settlement in a court filing as “an excellent result in light of the risks of continued prosecution.”
They noted their intention to request up to 30% of the fund, or nearly $50m, in legal fees.
A third related lawsuit, brought by independent ATM owners and operators, remains unresolved in the same court.
Visa is also a defendant in other antitrust actions, including a case brought by the US Justice Department that accuses the company of monopolising the US debit card market. Visa has denied those allegations.
Last month, Visa and Mastercard reportedly reached a revised $38bn settlement with US merchants who alleged the card networks imposed excessive charges for processing credit card transactions.
The gold standard of business intelligence.
Find out more
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Find out more
Give your business an edge with our leading industry insights.
Give your business an edge with our leading industry insights.
I consent to Verdict Media Limited collecting my details provided via this form in accordance with Privacy Policy
View all newsletters from across the GlobalData Media network.
The leading site for news and procurement in the Electronic Payments International
Powered by
© GlobalData Plc 2025
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
