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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
UPDATE:
- The Court granted final approval to this settlement July 22, 2021.
- Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
A $40 million Wells Fargo Merchant Services settlement will benefit certain merchants who contracted with the company for payment processing services.
The Class includes any merchant in the United States who contracted to receive payment processing services from Wells Fargo Merchant Services and, between Aug. 4, 2011, and Feb. 8, 2021, processed sales through a fixed pricing plan, paid a statement billing fee, non-validation payment card industry (PCI) compliance fee, and/or monthly minimum processing fee, or processed sales through a pricing plan other than standard pricing (also known as “volume tier” or “simplified” pricing), and as of Feb. 8, 2021, is not account-managed (including the premier services team).
Lead plaintiff Patti’s Pitas LLC had alleged Wells Fargo Merchant Services overcharged businesses on their monthly invoices.
Wells Fargo Merchant Services has admitted no wrongdoing, and a judge has not ruled in favor of either party. Instead, both sides have agreed to the settlement to avoid ongoing litigation.
Class Members who are current customers of Wells Fargo Merchant Services will automatically receive a payment by check if the settlement is approved.
Class Members who are former customers must file a claim form in order to receive a payment.
Former customers filing a valid claim form and current customers will be divided into three payment groups.
Group 1 will consist of Class Members that processed sales through a fixed pricing plan at one time or another during the Class Period will receive 60 percent of the net settlement fund.
Group 2, made up of Class Members that paid a statement billing fee, non-validation PCI compliance fee, and/or monthly minimum processing fee during the Class Period will be allocated 10 percent of the net settlement amount. will be allocated to Settlement The Net Settlement Amount will be further allocated within this group as follows:
Group 3, Class Members that processed sales through a pricing plan other than the standard plan (also known as “volume tier” pricing) during the Class Period, and that as of the date of preliminary approval of the settlement are not account-managed (which includes the premier services team), will be allocated 30 percent of the net settlement amount.
Further details on how each group’s allocation is broken down is available on the Wells Fargo Merchant Services settlement notice.
The actual amount of each Class Member’s payment will not be calculated until after the claims deadline passes.
Wells Fargo Merchant Services also has agreed to amend its program guide, or equivalent document, as applicable to all current customers not account-managed or on the standard plan, to reflect that any applicable early termination fee will be waived in the event of termination of the agreement by the customer within 45 days of an increase in — or new — non-pass-through fees.
A final approval hearing in the Wells Fargo Merchant Services settlement is scheduled for July 22, 2021.
Class Members who wish to object to or exclude themselves from the settlement must do so by June 8, 2021.
Claim forms must be submitted by July 23, 2021.
Who’s Eligible
Any merchant in the United States who contracted to receive payment processing services from Wells Fargo Merchant Services and, between Aug. 4, 2011, and Feb. 8, 2021, processed sales through a fixed pricing plan, paid a statement billing fee, non-validation payment card industry (PCI) compliance fee, and/or monthly minimum processing fee, or processed sales through a pricing plan other than standard pricing (also known as “volume tier” or “simplified” pricing), and as of Feb. 8, 2021, is not account-managed (including the premier services team).
Potential Award
Varies.
- The actual amount of each Class Member’s payment will not be calculated until after the claims deadline passes.
- Former customers filing a valid claim form and current customers will be divided into three payment groups.
- Group 1 will consist of Class Members that processed sales through a fixed pricing plan at one time or another during the Class Period will receive 60 percent of the net settlement fund.
- Group 2, made up of Class Members that paid a statement billing fee, non-validation PCI compliance fee, and/or monthly minimum processing fee during the Class Period will be allocated 10 percent of the net settlement amount. will be allocated to Settlement The Net Settlement Amount will be further allocated within this group as follows:
- Group 3, Class Members that processed sales through a pricing plan other than the standard plan (also known as “volume tier” pricing) during the Class Period, and that as of the date of preliminary approval of the settlement are not account-managed (which includes the premier services team), will be allocated 30 percent of the net settlement amount.
- Further details on how each group’s allocation is broken down is available on the settlement notice.
Proof of Purchase
No proof of purchase is required for this settlement.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
07/23/2021
Case Name
Patti’s Pitas LLC, et al. v. Wells Fargo Merchant Services LLC, Case No. 1:17-cv-04583-GRB in the U.S. District Court for the Eastern District of New York
Final Hearing
07/22/2021
Settlement Website
Claims Administrator
Wells Fargo Merchant Services Settlement
c/o Rust Consulting Inc. – 7182
P.O. Box 1367
Minneapolis, MN 55440-1367
1-866-759-6521
info@merchantservicessettlement.com
Class Counsel
E. Adam Webb
Matthew C. Klase
WEBB, KLASE & LEMOND LLC
Roger N. Heller
Avery S. Halfon
LIEFF CABRASER HEIMANN & BERNSTEIN LLP
Defense Counsel
Jarrod D. Shaw
Nellie E. Hestin
McGUIRE WOODS LLP
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76 thoughts onWells Fargo Merchant Services $40M Class Action Settlement
Received the check in the mail today
do you know who we can contact about the amount
received…this amount doesnt make sense
When will the settlement checks for the Wells Fargo Merchant Services lawsuit be mailed?
They. Are anticipating checks will be mailed out in October, that’s all their saying !
Has anyone received a check yet?
or any related information?
I haven’t gotten anything and I dunno how to ask or who to call .
Yes my daughter recieved a check last week.
Your daughter received a check for merchant accounts service settlement?
I have received a check and I received a notice that my name was included and filed a claim. Hope to receive my check too ASAP
I meant to say I have not received a check yet!
How much was the check
When and how I receive a notification of my check
I was overcharged for NSF fees all the time I was a customer for years and I feel like I have a claim that I sent in early this year. Please notify me of the outcome of my case.
When will we be receiving our settlement