Visa, Mastercard to Fund $167.5M ATM Fee Settlement; Claims Due Feb. 10, 2027

Visa Inc. and Mastercard Inc. have agreed to pay a combined $167.5 million to settle claims that their network rules forced independent ATM operators to charge inflated access fees, according to a proposed settlement in Burke v. Visa Inc. Visa will contribute $88.775 million and Mastercard $78.725 million. The class covers U.S. consumers charged an access fee at an independent ATM between Oct. 24, 2007, and Aug. 14, 2026, when their bank did not fully reimburse the fee. Credit card transactions, cash advances and prepaid card transactions are excluded. Both companies deny the allegations and settled without admitting liability. Claims must be filed by Feb. 10, 2027, online or by mail. A court hearing to approve the settlement is set for Feb. 17, 2027. Payments, which have no predetermined amount, could be issued within six months if approved without appeal.