$1,797 Direct Deposit Coming in April – Check If You Qualify via Visa or Mastercard

Have you ever faced high fees while withdrawing money from an ATM? If yes, then there is good news for you! Visa and Mastercard have together made a big settlement of $197.5 million (about ₹1600 crores). Under this class-action lawsuit, they are ready to give direct deposits of up to $1,797 to consumers in April 2025.

Let’s understand this whole matter in easy Hindi—who will get the money, how will they get it, how much amount can be received, and why it matters to you.

What is Visa and Mastercard’s ATM Settlement?

This settlement is related to a class-action lawsuit, which alleged that Visa, Mastercard, and some big US banks together were unnecessarily increasing ATM fees. That is, when a consumer withdrew money from an ATM outside his bank’s network, he was charged more, which was a move to prevent competition and earn more profits.

These rules prevented ATM operators from using cheaper networks (e.g., NYCE, Pulse) and instead had to process transactions through the more expensive Visa/Mastercard network. This resulted in consumers paying higher fees each time.

This led to a lawsuit, and Visa and Mastercard eventually agreed to pay $197.5 million, though they did not admit fault.

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Who was eligible for the settlement?

You could be eligible for the settlement if you met the following conditions:

• You withdrew money from an ATM in the US using a Visa or Mastercard debit card between October 1, 2007, and July 26, 2024
• You were charged an ATM access fee for the transaction that was not refunded by the bank
• The ATM was owned by banks such as JPMorgan Chase, Bank of America, Wells Fargo
• You filed the claim before January 22, 2025
• The more times you made eligible transactions, the higher your payout could be—up to a maximum of $1,797.

How was the claim made? (The window is now closed)

Although the deadline to file a claim has passed, here’s how the process was:

Visit the official website:

• Filled out the form by visiting atmclassaction.com.
• Fill out the online form:
• Name, email, debit card usage dates, and estimated number of transactions.
• Submit before the deadline:
• The deadline was January 22, 2025
• Wait for payment:

If you filed a claim and there was no appeal, you’ll receive a payment by direct deposit or check in April 2025.

How much money will you get?

$1,797 is just the maximum amount. The actual payment will depend on:

• How many people filed a claim
• How many of your transactions are eligible
• Amount left after deducting admin fees and lawyer fees

Most people are likely to receive between $50 and $300. But those with a lot of eligible transactions may receive more.

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What is the broader impact of this settlement?

This case is not just about getting money back—it’s the beginning of a big change:

• Banking fees are now under scrutiny
  Organizations like the CFPB are now keeping an eye on every fee of banks
• Demand for transparency is increasing
  Now it will be difficult to hide hidden fees from the bank
• Customers have to be aware
  Compare ATM fees and bank fees, and change banks if needed

According to the US Federal Reserve, an average out-of-network ATM fee was $4.73 in 2023. Now imagine, when there are millions of transactions every day, how much money is lost in fees alone.

How to join future settlements?

If you missed this settlement, don’t panic. Many such cases come up every year. Stay updated by:

• Bookmark TopClassActions.com or ClassAction.org
• Get email alerts from the FTC or CFPB
• Follow consumer rights groups on social media
• Check with your bank or legal advisor

Conclusion

This settlement by Visa and Mastercard has not only brought relief to consumers but is also a big step towards making the entire financial system more transparent and accountable. If you have made claims, the amount can be credited to your account by April 2025.

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