ATM Cash Withdrawal Class Action Settlement
Photo Credit: Unsplash | Updated: June 9, 2023
Settlement Status: Processing Claims
Claim Form Deadline: May 11, 2022 (Passed)
Estimated Payout: Varies
Proof required: No
Method of payment: Cash and Digital
What's the ATM Fees Class Action Settlement?
Update: The Court has granted final approval to distribute the $67 Million settlement funds for the ATM class action settlement. The expectation, based on the class action administrator, is that funds will be distributed to qualified claimants that filed a valid claim form on time by the end of June 2023. Stay up to date by checking this webpage periodically.
A $67 Million class action lawsuit was brought on behalf of ATM cardholders who used a bank ATM owned by an entity different from the entity that issued the ATM card and were assessed an ATM surcharge. Three of the top United States banks have agreed to settle the lawsuit - JPMorgan & Chase Co. (“JP Morgan”); Wells Fargo & Co. and Wells Fargo Bank (“Wells Fargo”); and Bank of America, N.A. and Bank of America Corp. (“Bank of America”).
This class action settlement was settled as the result of a lawsuit in which it was alleged that banks Wells Fargo, JP Morgan Chase, and Bank of America violated federal antitrust laws by creating restraints that allegedly inflated the
ATM surcharges paid by the Class. ATM cardholders who used a bank ATM owned by an third-party bank or ATM network different from the entity that issued the ATM card and were assessed an ATM surcharge
may be affected by this class action and owed a settlement payout. A lawsuit is currently ongoing against Visa and MasterCard and is currently unsettled as of October 2022.
How Do I Qualify For Payment?
You are a Settlement Class Member if, between October 1, 2007 and November 12, 2021, you paid a surcharge to withdraw cash from a bank ATM in the United States.
You are excluded from the Settlement
Class if all of your surcharged ATM transactions were (a) reimbursed, or (b) conducted on cards issued by financial institutions located outside of the United States.
How Much Will I Get Paid?
The settlement payout per claim will vary based on the amount of people that filed timely and valid claims before May 11, 2022. Thus, there is no estimate for the settlement payment amounts. Stay tuned on this website for any updates.
How Do I File a Claim and Get Paid?
To be eligible for payment you must have submitted a valid claim
or mailed to the Class Administrator by no later than May 11, 2022.
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