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:

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 card issuer.

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