Foreign exchange class action settlement

by Philip Brewer on 20 February 2008 comments
Photo: Philip Brewer

Did you travel overseas between 1996 and 2006? Or, did you charge anything on a credit or debit card in a foreign currency? If so, be sure to claim your share of a class action settlement over allegations that credit card companies conspired to set and conceal the fees they charged for foreign transactions.

This one is real, folks--not a scam.

To see the gory details, and to file your claim, check out the Currency Conversion Fee Antitrust Litigation website:

http://www.ccfsettlement.com/

Your main options:

  • If you had at least one foreign transaction, but spent less than a week overseas, you can file for a $25 "easy refund."
  • If you spent more than a week, or had foreign transactions of more than $2,500, you can get a "total estimation refund," based on a rough estimate of how many days you were overseas and what kinds of travel you did.
  • If you have pretty good records of how much you spent overseas during that decade, you can provide the details and get back 1% to 3% of your foreign charges.

You've got until May 30th, 2008 to file your claim.

There's no way to be sure how much money you'll get--the refunds come from a limited pool, and if lots of people claim shares there'll be less to go around. But that's no reason not to claim your share.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain.

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