{"id":48086,"title":"Visa and Mastercard agree to settle major lawsuit over ATM fees","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2025-12-20T10:36:33+00:00","modified":"2025-12-20T10:36:33+00:00","canonical_url":"https://stockmark.it/visa-and-mastercard-agree-to-settle-major-lawsuit-over-atm-fees/","markdown_url":"https://stockmark.it/visa-and-mastercard-agree-to-settle-major-lawsuit-over-atm-fees.md","json_url":"https://stockmark.it/visa-and-mastercard-agree-to-settle-major-lawsuit-over-atm-fees.json","category":"Business","categories":["Business"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2025/12/stencil.default-2025-12-20T103541.089.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"Visa and Mastercard have reached a settlement totalling 1675 million dollars to resolve a class action lawsuit which accused the two payment giants of conspiring to maintain artificially high ATM access fees. The agreement was submitted this week in the federal district court in Washington and now awaits the approval of a judge.\n\nThis proposed accord would result in potential compensation for millions of ATM users who were charged unreimbursed access fees when withdrawing cash from independent nonbank ATMs. Of the settlement amount, Visa will contribute approximately 888 million dollars whilst Mastercard will add an estimated 787 million dollars to the fund. Eligible customers with qualifying ATM transactions dating back to October 2007 would receive compensation under the terms of the settlement.\n\nThis legal action is one of three interconnected cases pursued in the Washington DC federal court since 2011. Claimants challenged industry practices by Visa and Mastercard which allegedly prevented independent ATM operators from offering reduced fees to consumers. Both companies have consistently denied wrongdoing or participation in any collusive behaviour.\n\nLast year, Visa and Mastercard agreed to pay 1975 million dollars to settle similar claims filed by another group of ATM users who alleged overcharging at bankoperated ATMs. Several banks involved in the wider litigation paid a collective 66 million dollars as part of settlements reached in 2021.\n\nLegal representatives for the claimants described the recent settlement as a highly favourable outcome, noting its advantages compared to the ongoing risks and uncertainties of extended litigation. They have indicated their intention to request up to 30 percent of the fund, or approximately 50 million dollars, in legal fees for their work.\n\nA separate lawsuit from independent ATM owners and operators remains unresolved in the same court. Visa is also contending with antitrust cases elsewhere, including an action by the US Department of Justice alleging unlawful monopoly conduct in the debit card market; Visa has rejected those claims."}