Ever see those headlines talking about people receiving a direct $1,797 payment for being a Visa or Mastercard user? Don’t worry—you’re not going crazy; it’s a legitimate settlement. Chances are if you’ve accessed an ATM located inside a U.S. bank since 2007, you are owed part of this multi-million-dollar settlement. This post breaks down exactly what the settlement is all about, who’s eligible, and how to file a claim as well as the potential impact to your wallet.
Overview
Let’s take a quick look at the details of the case:
| Detail | Explanation |
|---|---|
| Total Settlement | $197 million combined between Visa and Mastercard |
| Reason | Alleged inflation of ATM fees by payment networks |
| Eligible Users | Anyone who used Visa/Mastercard at bank-operated ATMs since 2007 |
| Payment Estimate | Up to $1,797 (final amount depends on claims submitted) |
| Court Status | Awaiting final approval before claims process begins |
| Official Info | Check the official settlement website for updates |
Direct payments are a part of the class-action settlement meant to recover for consumers all the years they allegedly paid extra ATM fees.
Why
The lawsuit claims Visa and Mastercard colluded with banks to inflate artificially ATM fees on bank-operated machines. The companies, by controlling the network rules and limiting competition, allegedly created an unfair pricing structure that hit consumers with higher fees.
While both firms deny wrongdoing, they’ve settled to avoid the long and costly litigation. This is usual in big cases such as this, particularly when it comes to practices that might have gone undetected for years.
Breakdown
This is how the settlement funds are divided:
- Visa: $104.6 million
- Mastercard: $92.8 million
About 175 million people in the U.S. could be eligible. If you’ve accessed an ATM over the covered time period, your benefit amount will be based on your frequency of use and the number of other claimants.
The oft-cited $1,797 figure applies only to some users, as it is an estimate based on averages. Your actual amount, though, will be determined by the aggregate amount of claims filed as well as the amount of usage you document.
Who
You may be eligible if:
- You purchased something with a Visa or Mastercard debit or credit card
- You obtained cash from, or deposited money into, a bank-operated ATM
- You made the use between 2007 and today
You do not need to have been a frequent user of an ATM—in fact, occasional use may bring you some settlement dollars.
What Doesn’t Qualify
Non-bank ATMs (such as those at gas stations, convenience stores, or bars) are not included in this specific settlement. There may be individual cases about those in the future.
How
Although the court hasn’t signed off on payouts yet, here’s what you can do to get ready:
Step 1
Ask yourself: Did I make a purchase using a Visa or Mastercard card at a bank-owned ATM since 2007? If so, you’re probably eligible.
Step 2
Begin gathering
- Old bank statements
- ATM withdrawal receipts
- Any evidence of fees paid
- Even if you don’t have full records, partial proof can support your claim.
Step 3
The official claims site will open once the court approves the settlement. Bookmark it, sign up for updates, and check frequently.
Step 4
When the process opens, fill out the claim form online or by mail. Accuracy matters—submit your details carefully to avoid delays or denial.
Step 5
Once your claim is verified, you’ll receive your payment. Distribution may take several months depending on how complex your claim is.
Impact
This case isn’t just about ATM fees. It’s about making sure corporations operate fairly and transparently. The fact that this case dates back more than a decade shows how long it can take for consumers to get justice—but it also proves that it’s worth the effort.
For years, consumers have tolerated hidden or mysterious fees. This settlement encourages financial institutions to be more accountable.
Tips
While awaiting your claim, following are a couple of savvy ways to steer clear of ATM fees in the future:
- Use your bank’s ATMs: Most banks won’t ding you for using their own machines.
- Withhold more: Cut back on how often you withdraw cash to minimize fees.
- Use apps to find free ATMs: Most banking apps now include ATM locators.
- Go digital: Use mobile payments and cards instead of cash when possible.
- Check for fee reimbursement: Some banks refund ATM fees—see if yours does.
Knowing this settlement isn’t just about a payout—it’s about becoming a smarter, more empowered consumer.
FAQs:
Who qualifies for the Visa/Mastercard payout?
Anyone who used a Visa or Mastercard at bank-operated ATMs since 2007.
Is the $1,797 payment guaranteed?
No, it’s an estimate. Final payouts depend on number of claims.
What documents do I need?
Bank statements, ATM receipts, or any proof of ATM usage.
When will the claims process begin?
After the court grants final approval of the settlement.