Visa and Mastercard have agreed to a proposed $167 million settlement over allegations that their rules improperly restricted how independent ATM operators could set access fees. The class-action lawsuit, which dates back to 2011, alleged that the rules limited competition and led consumers to pay higher fees for cash withdrawals at non-bank ATMs, often located in convenience stores, hotels and gas stations.
Visa will pay approximately $88.78 million under the agreement. Mastercard will pay $78.73 million. Neither company admitted wrongdoing.
The settlement covers ATM withdrawals made between late October 2007 and mid-August 2026. Eligible consumers can submit claims for a share of the settlement fund by February 10, 2027.