Fed-up Visa and Mastercard users can score a slice of a multimillion-dollar ATM lawsuit.
The two major payment networks have agreed to pay a combined $167.5 million after users claimed they were charged high access fees for cash withdrawals at an independent ATM (automated teller machine that is not owned by Visa, Mastercard, any bank or other financial institution).
When cardholders use an ATM not associated with their bank, they must pay a pesky surcharge or “access fee” to withdraw money from their accounts.
Networks — which are owned by companies like Visa and Mastercard — enable the transactions and connect the ATM to the cardholder’s bank.
Read the full article at NYPOST.COM
