CHARLOTTE, N.C. — Ever had to pay a surcharge to access money from an ATM? If so, a new class-action lawsuit could help people get paid.
Class-action lawsuits are becoming more and more popular. But how can a person know if one is real? WCNC Charlotte's VERIFY team explains what someone needs to know before trying to join the lawsuit.
THE QUESTION
Is an ATM Surcharge Class Action Settlement real?
THE SOURCES
THE ANSWER
Yes, an ATM Surcharge Class Action Settlement is real.
WHAT WE FOUND
The class-action lawsuit was brought on behalf of cardholders who used a bank ATM that was different than the bank that issued the card. When this happens, many were hit with a surcharge. The lawsuit alleges the defendants violated federal antitrust laws.
Bank of America, Wells Fargo, and JP Morgan have all agreed to settlements totaling more than $66 million. However, Visa and Mastercard have not settled, so the lawsuit continues. The final approval for the settlement is scheduled for May 17.
Mauney said these types of lawsuits are becoming more common against bigger companies.
"It allows people to combine their efforts in a sense so they can afford a lawyer and have the company stop the conduct and then compensate people for their injury," Mauney said.
So how can you get money?
You qualify if (a) between Oct. 1, 2007, and Nov. 12, 2021, you (b) paid an unreimbursed surcharge to withdraw cash from a bank ATM in the United States, (c) using a card issued by a financial institution in the United States.
You must submit a valid claim by May 11 in order to receive money.
So how will the money be split up?
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"Usually, in these types of cases there will be a statute federal or state that sets forth how much you can get and so on," Mauney said.
Because it is impossible to know how many people will file claims, right now, there’s no payment estimate on how much you'll actually get.
Contact Meghan Bragg at mbragg@wcnc.com and follow her on Facebook, Twitter and Instagram.
VERIFY is dedicated to helping the public distinguish between true and false information. The VERIFY team, with help from questions submitted by the audience, tracks the spread of stories or claims that need clarification or correction. Have something you want VERIFIED? Text us at 704-329-3600 or visit /verify
