ATM Surcharge Class Action Settlement: Everything You Need to Know [UPDATE]

JPMorgan Chase, Wells Fargo and Bank of America have agreed to pay $67 million to settle claims that they participated in an unlawful agreement that raised fees for customers who withdrew cash from bank ATMs using a card issued by a different financial institution.   

If you got an email about the settlement, heard about it from a friend or saw it on the news, you’ve come to the right place. Keep reading to find out more about who’s covered by the settlement, how to file a claim and what that email you received was all about.

Am I covered by the settlement?

In general, you may be covered by the settlement if you paid an unreimbursed surcharge to withdraw cash from a bank ATM using a card issued by a U.S. financial institution anytime between October 1, 2007 and November 12, 2021.

The surcharges at issue are fees charged to customers who used their ATM cards to make a withdrawal at a bank that did not issue the ATM card. In other words, if you were charged a fee for using your Wells Fargo ATM card at a Bank of America ATM within the above timeframe and were not reimbursed for the fee, you’re covered by the settlement. 

To clarify even further, you’re covered by the settlement if you paid an ATM transaction fee to any bank that is a member of the Visa or MasterCard ATM network using any ATM card issued by a U.S. financial institution, so long as that bank did not issue the card. The settlement is not limited to those who used Chase, Wells Fargo or Bank of America cards or ATMs.

How do I file a claim?

To file a claim with the settlement, head over to the official settlement website at ATMClassAction.com.

You’ll be asked to provide your notice ID number, which can be found in the email you received about the settlement. The email is a real, court-ordered communication meant to provide notice to those covered by the settlement.

If you didn’t receive an email, you can still file a claim online by following the instructions here.

The deadline for filing a claim is May 11, 2022.

So, the website’s legit?

Yep! It was set up as part of a court order as a way for those covered by the settlement to find out more information and to file claims.

What will I get from the settlement?

Those who file valid claims will receive a cash payout from the settlement. Each claimant will receive a prorated share of the $67 million settlement fund—after certain fees and expenses are deducted—so the amount of the payment will depend on how many people file claims.

Once payments are ready to be sent out, you’ll get an email or text asking how you’d like to be paid. At that time, you’ll be able to select one of several payment options, including PayPal or a virtual debit card, or request a paper check.

Keep in mind that payments won’t be sent out until after the settlement receives the court’s final approval and any appeals are resolved. A final approval hearing has been scheduled for May 17, 2022.

What’s the deal with that email I got?

The email you received is a court-ordered class action notice that was sent to explain your rights as a class member.

You were most likely sent an email because you were identified via bank records as someone who is covered by the settlement. When a lawsuit settles, the defendants are often asked to provide the contact information of the people covered by the settlement (if they have it in their records) so the settlement administrator can notify as many people as possible.

The email is meant to let you know what your options are and how to take part in the settlement. It’s important to note that even if you do nothing, your legal rights are still affected.

What is the lawsuit alleging?

The case claims the defendants, who include JPMorgan Chase, Bank of America and Wells Fargo, violated federal antitrust laws by agreeing to raise the fees charged for using an ATM card to make a cash withdrawal at a bank not operated by the card issuer.

The lawsuit argues that if it weren’t for the allegedly unlawful agreement among the banks and ATM card issuers to raise these fees, the amounts paid by consumers would have been lower across the board.

Though Chase, Bank of America and Wells Fargo have decided to settle the allegations against them, the lawsuit will continue against Visa, MasterCard and NB Holdings (a Bank of America subsidiary).

Chase, Bank of America and Wells Fargo deny the allegations against them, and the court has not decided who is right.

Where can I find more information?

The best place to check for more information is the official website, ATMClassAction.com.

You can also find the answers to frequently asked questions in the official class action notice.

If you still can’t find what you’re looking for, you can reach out to the settlement administrator by calling 877-311-3724, emailing info@ATMClassAction.com or writing to the following address: