Visa and Mastercard have agreed to pay $167.5 million to settle allegations that their network rules caused consumers to pay higher fees when withdrawing cash from certain independently operated ATMs.
The proposed settlement could provide payments to people who paid an unreimbursed surcharge to withdraw cash from an independent ATM in the United States between Oct. 24, 2007, and Aug. 14, 2026, according to the court-authorized settlement website.
Independent ATMs are machines that are not owned by a bank or another financial institution. They are commonly found at businesses such as convenience stores, restaurants, and bars.
To qualify, consumers generally must have used an ATM or PIN-debit card to withdraw money from a deposit account and paid a surcharge that was not fully reimbursed by their bank….