Visa and Mastercard have reached a $167.5 million settlement to end a class-action lawsuit that alleged the companies engaged in anti-competitive practices regarding ATM fees. The lawsuit, which spanned over a decade, claimed that the card networks’ rules artificially inflated the fees consumers paid when using ATMs. While the companies have agreed to the payout to resolve the litigation, they have not admitted to any wrongdoing or liability as part of the deal.

The settlement process is now moving toward court approval. If finalized, the funds will be distributed to eligible consumers who used an ATM and were charged a fee between October 1, 2008, and December 31, 2023. The exact amount an individual might receive depends on the total number of valid claims submitted, as the settlement pool will be divided among all qualified participants after administrative and legal costs are deducted.

Legal experts note that this settlement is a significant development in the ongoing scrutiny of payment network fee structures. Consumers are encouraged to monitor official settlement websites to determine their eligibility and to understand the filing deadlines. Because the settlement is still subject to final judicial approval, the timeline for potential payouts remains dependent on the court's schedule and the volume of claims processed.