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Time is running out for businesses to file for the $5.5B payment card settlement
Follow these tips to ensure you submit a valid claim before it's too late.
The deadline to file your claim in the nation’s largest antitrust class-action settlement is Friday, May 31, 2024.
Only businesses that submit by the deadline are eligible to get money from the $5.5-billion settlement, which comes after a 19-year court battle focused on business owners paying allegedly inflated Visa and Mastercard interchange fees.
How do I know if I qualify to claim?
Criteria is simple: Businesses that accepted Visa and/or Mastercard credit or debit cards in the U.S. between January 1, 2004 and January 25, 2019 may be eligible. Even bankrupt or shuttered businesses or those that changed owners can submit a claim but must do so before the claims period closes.
How do I file a claim?
The claims process is done online at PaymentCardSettlement.com and takes as little as five minutes.
Online with a QR code:
More than 18 million businesses received claim forms by mail. Business owners can simply scan the QR code on the claim form to be taken to a personalized, secure page in the claims portal pre-filled with their business credentials.
Online with a Tax Identification Number (TIN):
Business owners without a claim form can go to the claims portal, use a TIN to confirm their identity, then follow the easy steps to submit. Be ready with documentation showing that you are authorized to file a claim on behalf of the business.
By mail:
Claims can also be submitted by mail. For instructions, visit: PaymentCardSettlement.com.
“We’ve made the claims process easy and quick so as many businesses as possible can submit a claim and get their share from the settlement,” commented Alexandra Bernay, Co-Lead Counsel on the case, and partner at Robbins Geller Rudman & Dowd LLP. “Although it’s taken nearly 20 years to get to this point, we are doing everything possible to get the settlement funds into business owners’ hands. I urge business owners not to wait -- submit a claim today to see if they are qualified to receive money from the settlement.”
How much can I get?
There is no set amount – payments will be calculated after all claims are filed and validated and will depend on the value of all eligible payment card transactions and the number of claims received, among other factors, and they could range from tens of dollars to hundreds of thousands.
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