Visa and Mastercard have recently agreed to pay $200 million in a class action settlement after being accused of charging businesses and consumers excessive fees. This settlement is aimed at compensating those affected by these high charges, and if you’ve used an ATM or accepted Visa or Mastercard payments in the past, you may be eligible for up to $2,000 in refunds.
Visa-Mastercard Class Action Settlement 2025 Overview
| Department | Visa-Mastercard |
| Name of Program | Visa Mastercard Settlement |
| Country | USA |
| Total Settlement Amount | $5.5 billion |
| Per Person Amount | $2,000 |
| Eligibility | Used Visa/MasterCard at ATMs, paid non-refundable bank fees (2007–2024) |
| Payout Date | May 2025 (Expected) |
| Category | Government Aid |
| Official Website | https://www.paymentcardsettlement.com |
Visa Mastercard Settlement Details
The lawsuit against Visa and Mastercard was filed because they were accused of preventing ATM operators from offering lower fees to customers who used other card networks. This practice helped banks and the card companies but resulted in higher costs for consumers. As a result, businesses and individuals took the matter to court, which eventually gained the attention of consumer advocacy groups seeking fairer rules and lower ATM fees.
The case moved through the courts from 2007 until 2024, with the companies accused of collaborating to limit competition and keep ATM fees high. To resolve the case, Visa and Mastercard have agreed to pay $200 million, which will be used to compensate those eligible. A claims administrator will review the applications, and once approved, refunds will be sent out either by check or direct deposit.
Eligibility Criteria for $2,000 Visa Mastercard Refund
There are two groups eligible for compensation from this settlement:
- Businesses and Nonprofit Organizations: This group includes businesses and nonprofit organizations that accepted Visa or Mastercard transactions between January 1, 2004, and January 25, 2029. This also applies to businesses that have closed or declared bankruptcy during that period.
- Individual Consumers: If you were charged ATM fees by major banks like Bank of America, Wells Fargo, or JPMorgan Chase, you may qualify for a refund.
If you fall into either of these groups, you could be eligible for a refund of up to $2,000.
Visa Mastercard Refund Application Process
To claim your refund, you’ll need to fill out a claim form on the official Visa Mastercard settlement website. The website will help you check if you qualify for a refund. You must provide proof of the fees you paid, such as ATM receipts or bank statements, to support your claim.
Make sure to submit your claim form before the final deadline. The website will post this deadline, so be sure to keep an eye on it to avoid missing out.
How Visa Mastercard Refunds Are Calculated
Your refund amount will depend on the total amount of ATM fees you paid, as well as the number of people who submit claims. If many people file for refunds, the total settlement amount of $200 million will be divided among all claimants. Those who paid higher fees may receive larger refunds, while others will get smaller amounts.
Since the settlement amount is fixed, it’s essential to file your claim early and accurately to ensure you receive your share.
Why You Should File Your Claim Early
While the claim process is relatively simple, it’s important to act quickly. By gathering your documents, carefully completing the claim form, and submitting it before the deadline, you will increase your chances of receiving a refund.
As many people are expected to file for refunds, the sooner you submit your claim, the better. Be sure to check the official settlement website regularly for updates to stay informed about important dates and requirements.