{"id":1895,"date":"2025-01-10T16:34:29","date_gmt":"2025-01-10T16:34:29","guid":{"rendered":"https:\/\/www.soscip.org\/us\/?p=1895"},"modified":"2025-01-10T16:34:30","modified_gmt":"2025-01-10T16:34:30","slug":"1797-direct-payments-visa-mastercard-settlement","status":"publish","type":"post","link":"https:\/\/www.soscip.org\/us\/1797-direct-payments-visa-mastercard-settlement\/","title":{"rendered":"$1,797 Direct Payments for Visa and Mastercard Settlement: Here\u2019s What You Need to Know"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In a groundbreaking decision, an American court has ordered Visa and Mastercard to reimburse customers a staggering <strong><a href=\"https:\/\/www.soscip.org\/us\/1797-direct-payments-visa-mastercard-settlement\/\" data-type=\"link\" data-id=\"https:\/\/www.soscip.org\/us\/1797-direct-payments-visa-mastercard-settlement\/\">$197 million<\/a><\/strong> in response to illegal fees charged on cash withdrawals from ATMs. This ruling, which impacts cardholders nationwide, marks a significant setback for the two leading global payment processors.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#the-ruling-and-settlement-overview\">The Ruling and Settlement Overview<\/a><\/li><li><a href=\"#who-is-eligible\">Who is Eligible?<\/a><\/li><li><a href=\"#steps-to-claim-your-payment\">Steps to Claim Your Payment<\/a><\/li><li><a href=\"#why-were-the-fees-unlawful\">Why Were the Fees Unlawful?<\/a><\/li><li><a href=\"#a-closer-look-at-visas-debit-card-monopoly-accusations\">A Closer Look at Visa\u2019s Debit Card Monopoly Accusations<\/a><\/li><li><a href=\"#global-implications-for-visa-and-mastercard\">Global Implications for Visa and Mastercard<\/a><\/li><li><a href=\"#final-thoughts\">Final Thoughts<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s break down the details, eligibility, and steps to claim your refund.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/38m-lyft-settlement-new-york-driver-compensation\/\" data-type=\"post\" data-id=\"1890\">$38 Million Lyft Settlement: New York Drivers to Receive Compensation for Unlawful Deductions<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"the-ruling-and-settlement-overview\"><strong>The Ruling and Settlement Overview<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The court found Visa and Mastercard guilty of unlawfully collecting additional fees from cardholders during cash withdrawals at ATMs. The settlement includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Visa<\/strong> paying <strong>$104.6 million<\/strong>.<\/li>\n\n\n\n<li><strong>Mastercard<\/strong> reimbursing <strong>$92.8 million<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The refunds apply to users who incurred surcharges between <strong>October 1, 2007, and July 26, 2024<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/miss-the-cash-app-settlement-deadline-what-next\/\" data-type=\"post\" data-id=\"1356\">Missed the Cash App Settlement Deadline? Here\u2019s What to Do Next<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/amex-chase-bank-of-america-changes-credit-card\/\" data-type=\"post\" data-id=\"1513\">Amex, Chase, and Bank of America Face Outrage Over Secret Changes to Credit Card Rewards<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"who-is-eligible\"><strong>Who is Eligible?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">To qualify for the reimbursement, two conditions must be met:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Timeframe<\/strong>: The cardholder must have used a Visa or Mastercard debit card at an ATM in the United States and paid a non-refundable surcharge during the specified period.<\/li>\n\n\n\n<li><strong>Bank Affiliation<\/strong>: The ATM must be operated by banks within the Visa or Mastercard ATM network, such as <strong>JPMorgan Chase, Wells Fargo, or Bank of America<\/strong>.<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/claim-2500-cash-app-class-action-settlement\/\" data-type=\"post\" data-id=\"1006\">Claim Up to $2,500 Cash App Class Action Settlement: Check if You are Eligible<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/100-walgreens-million-settlement-prescription\/\" data-type=\"post\" data-id=\"1293\">$100 Walgreens Million Settlement in Prescription Pricing Class Action: Eligibility &amp; Payout<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/5-million-american-massive-credit-card-data-leak\/\" data-type=\"post\" data-id=\"1279\">5 Million Americans Hit by Massive Credit Card Data Leak: Here\u2019s How to Protect Yourself<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/capital-one-bank-settlement-2024-payouts\/\" data-type=\"post\" data-id=\"900\">Capital One Bank Settlement 2024: Payouts, Eligibility, and Key Dates<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"steps-to-claim-your-payment\"><strong>Steps to Claim Your Payment<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">To receive the <strong>$1,797 reimbursement<\/strong>, eligible customers must follow these steps:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Visit the Settlement Website<\/strong>: Go to the official class action settlement website.<\/li>\n\n\n\n<li><strong>Complete the Claim Form<\/strong>: Fill out the online claim form or download a copy to submit manually.<\/li>\n\n\n\n<li><strong>Provide Information<\/strong>: Include your contact details and affirm that you paid excessive ATM surcharges.<\/li>\n\n\n\n<li><strong>Keep Documentation<\/strong>: While you may not need to submit proof initially, the claims administrator may request additional documents to validate your claim.<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Important Deadlines<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Claim Filing Deadline<\/strong>: January 22, 2024<\/li>\n\n\n\n<li><strong>Final Settlement Hearing<\/strong>: January 24, 2024<\/li>\n<\/ul>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/equifax-data-breach-settlement\/\" data-type=\"link\" data-id=\"https:\/\/www.soscip.org\/us\/equifax-data-breach-settlement\/\">Equifax Data Breach Settlement: Amount, Deadlines and Compensation<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/claim-cash-3-65m-t-mobile-employment-settlement\/\" data-type=\"post\" data-id=\"371\">Claim Your Cash: $3.65M T-Mobile Employment Class Action Settlement<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-were-the-fees-unlawful\"><strong>Why Were the Fees Unlawful?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The fees were determined to be excessive and imposed unfairly on cardholders. According to the court, Visa and Mastercard:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Charged additional surcharges during cash withdrawals without justification.<\/li>\n\n\n\n<li>Structured these fees to benefit their bottom line at the expense of users.<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/refund-visa-mastercards-192-million-settlement\/\" data-type=\"post\" data-id=\"1711\">Get Your Refund in Visa and Mastercard\u2019s $192 Million Class Action Settlement: Deadline is here Soon<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/16-million-capital-one-settlement\/\" data-type=\"post\" data-id=\"215\">$16 Million Capital One Settlement: Are You Eligible for a Payment or Credit?<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"a-closer-look-at-visas-debit-card-monopoly-accusations\"><strong>A Closer Look at Visa\u2019s Debit Card Monopoly Accusations<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This settlement comes amidst ongoing legal challenges against Visa for alleged monopolistic practices in the debit card market. The U.S. Department of Justice has accused Visa of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Suppressing Competition<\/strong>: Penalizing businesses that sought to use alternative payment networks.<\/li>\n\n\n\n<li><strong>Bribing Rivals<\/strong>: Preventing competitors from gaining traction in the market.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">These practices allegedly inflated costs for American consumers and hindered innovation in the payment processing industry.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"global-implications-for-visa-and-mastercard\"><strong>Global Implications for Visa and Mastercard<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Beyond the U.S., Visa and Mastercard face legal scrutiny in <strong>Europe<\/strong>, <strong>Australia<\/strong>, and other regions. Authorities accuse the companies of exploiting their dominant market positions, which impacts merchants and consumers worldwide.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final-thoughts\"><strong>Final Thoughts<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This settlement offers a significant opportunity for eligible Visa and Mastercard users to reclaim fees unlawfully charged over nearly two decades. With a direct payment of <strong>$1,797<\/strong>, impacted individuals can secure their refunds by acting promptly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Don\u2019t miss out\u2014file your claim by January 22, 2024, and ensure you\u2019re part of this historic settlement.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a groundbreaking decision, an American court has ordered Visa and Mastercard to reimburse customers a staggering $197 million in response to illegal fees charged on cash withdrawals from ATMs. This ruling, which impacts cardholders nationwide, marks a significant setback for the two leading global payment processors. Let\u2019s break down the details, eligibility, and steps&nbsp;<a class=\"read-more\" href=\"https:\/\/www.soscip.org\/us\/1797-direct-payments-visa-mastercard-settlement\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":1896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/1895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/comments?post=1895"}],"version-history":[{"count":4,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/1895\/revisions"}],"predecessor-version":[{"id":1937,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/1895\/revisions\/1937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/media\/1896"}],"wp:attachment":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/media?parent=1895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/categories?post=1895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/tags?post=1895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}