Are You Part Of $336 Million Settlement ?

[Tinkelbell]

Hi Everyone,

I would like to share this good news to all our dear VISA forumers. I decide to post it here since there is a sizable of American , UK and other western expats live in TL or came here as a tourist.

This is a letter that I receive from U.S. Didtrict Court Settlement Administrator last week.

Quoted...."

Dear xxxxx xxxx,

We are writing on behalf of the U.S. District Court because you are eligible to receive a Court-approved refund of fees charged to your eligible cards, which are Visa, Master Card, and/or Diner Club credit, charged and/or debit/ATM cards. The fees were based on FOREIGN transactions, including both purchases and ATM withdrawals,

from February 1, 1996 to November 8, 2006.

Please read the enclosed Natice explaining the proposed $336 million settlement and all of your options under the settlement..."

Therefore, if anyone of you received your credit cards (from those co: mentioned above) in the U.S.A, and had done foreign transaction in the period from Feb. 1 to Nov. 8, 06. Go to www.ccfsettlement.com or telephone at 1-800-945-9890.

Good luck & MERRY CHRISTMAS

[tattoodrob]

Hi Everyone,

I would like to share this good news to all our dear VISA forumers. I decide to post it here since there is a sizable of American , UK and other western expats live in TL or came here as a tourist.

This is a letter that I receive from U.S. Didtrict Court Settlement Administrator last week.

Quoted...."

Dear xxxxx xxxx,

We are writing on behalf of the U.S. District Court because you are eligible to receive a Court-approved refund of fees charged to your eligible cards, which are Visa, Master Card, and/or Diner Club credit, charged and/or debit/ATM cards. The fees were based on FOREIGN transactions, including both purchases and ATM withdrawals,

from February 1, 1996 to November 8, 2006.

Please read the enclosed Natice explaining the proposed $336 million settlement and all of your options under the settlement..."

Therefore, if anyone of you received your credit cards (from those co: mentioned above) in the U.S.A, and had done foreign transaction in the period from Feb. 1 to Nov. 8, 06. Go to www.ccfsettlement.com or telephone at 1-800-945-9890.

Good luck & MERRY CHRISTMAS

smells like a new scam...or is it an old one repeated??

have you any previous knowledge that any of your cards have been used here without your permission...if not then definite scam...probabaly want your card details etc to refund you

[mnbcm]

Hi Everyone,

I would like to share this good news to all our dear VISA forumers. I decide to post it here since there is a sizable of American , UK and other western expats live in TL or came here as a tourist.

This is a letter that I receive from U.S. Didtrict Court Settlement Administrator last week.

Quoted...."

Dear xxxxx xxxx,

We are writing on behalf of the U.S. District Court because you are eligible to receive a Court-approved refund of fees charged to your eligible cards, which are Visa, Master Card, and/or Diner Club credit, charged and/or debit/ATM cards. The fees were based on FOREIGN transactions, including both purchases and ATM withdrawals,

from February 1, 1996 to November 8, 2006.

Please read the enclosed Natice explaining the proposed $336 million settlement and all of your options under the settlement..."

Therefore, if anyone of you received your credit cards (from those co: mentioned above) in the U.S.A, and had done foreign transaction in the period from Feb. 1 to Nov. 8, 06. Go to www.ccfsettlement.com or telephone at 1-800-945-9890.

Good luck & MERRY CHRISTMAS

I'll vouch for this! I got it too and it is true. They don't ask you for any personal information other than your address so if it were a fake, you wouldn't lose anything anyway. Here are some news links to calm your doubts.

http://www.usatoday.com/money/industries/b...t-foreign_N.htm

http://www.nbc30.com/station/14817583/detail.html

[mnbcm]

Hi Everyone,

I would like to share this good news to all our dear VISA forumers. I decide to post it here since there is a sizable of American , UK and other western expats live in TL or came here as a tourist.

This is a letter that I receive from U.S. Didtrict Court Settlement Administrator last week.

Quoted...."

Dear xxxxx xxxx,

We are writing on behalf of the U.S. District Court because you are eligible to receive a Court-approved refund of fees charged to your eligible cards, which are Visa, Master Card, and/or Diner Club credit, charged and/or debit/ATM cards. The fees were based on FOREIGN transactions, including both purchases and ATM withdrawals,

from February 1, 1996 to November 8, 2006.

Please read the enclosed Natice explaining the proposed $336 million settlement and all of your options under the settlement..."

Therefore, if anyone of you received your credit cards (from those co: mentioned above) in the U.S.A, and had done foreign transaction in the period from Feb. 1 to Nov. 8, 06. Go to www.ccfsettlement.com or telephone at 1-800-945-9890.

Good luck & MERRY CHRISTMAS

I'll vouch for this! I got it too and it is true. They don't ask you for any personal information other than your address so if it were a fake, you wouldn't lose anything anyway. Here are some news links to calm your doubts.

http://www.usatoday.com/money/industries/b...t-foreign_N.htm

http://www.nbc30.com/station/14817583/detail.html

http://www.usatoday.com/travel/news/2007-1...es-refund_N.htm

[jazzbo]

It is not a fake. The settlement regards non-disclosed charges related to currrency transactions. If you are an eligible party, you most likely received a notice and a claimant number directly from the Court itself.

[cm-happy]

Its true.

can file a claim by going to www.ccfsettlement.com. You don't need to know the exact amount of your annual foreign transactions. Make an estimate. Need to specify you card numbers for both credit cards and debit cards if they are Master, visa or dinners club cards.

Be careful you include everything because you can only file once on-line. Any ammendments have to be made in writing.

[jazzbo]

Not ALL Visa and Master Charge cards are eligible... only those of certain issuers.

[Thaising]

What about those credit card issued by Asian regional banks where card was used in Europe and the US.? Will visa, master and diner refund us the different.

[YoungAndRice]

how do we know if we are eligible?

[stateman]

when i received mine, i thought this was a scam too.

now i'll need to remind myself to get it done.

[ProThaiExpat]

If you did not receive the notice and a claim form, it is unlikely you were in the "class" that brought the lawsuit.

I was pleased that my Citibank Visa had my statements for the relevant years on record and are sending them to me by mail, as I believe I used by credit card for many purchases when finishing off my house.

The form provides a $25 undisputed settlement amount if you cannot establish by other means that you spent a sum in excess of $2500 during the relevant years contained in the claim letter. I believe it is 1% of any amount that generates more than $25 for which you have evidence of the expenditures.

If you think you did, email your card company for statements, if you don't have them.

[Beardog]

I received the form via my sister, I too was going to contact the district attny's office before believing it.

I heard in 2004 they were planning on doing this, as a huge number of travellers were bumbed at paying 10-11 %(double billed)

By both ends.

the question I have is: Has anyone else checked the Validity of the settlement number yet? Mine comes back as not in the data base. Is anybodies numbers real?

I am assuming this is real as the American Govn. would have already to be alerted to this if it was a scam.

I still would like to know if in fact it does go to the settlement division& is legitimate before submitting anything as it will reveal just enough for a ficsher to grab you identity & all your accounts.

Thanks & would appreciate hearing if anyones claim #'s are valid & They just errored on mine!

If it is true on the itemized I am looking at $1500-$3500 U.S. back as I used a ton getting funds over here after the initial wire!

Thanks again

Barry

[jonniebkk]

This is NOT a scam. There was a class-action lawsuit brought in the USA a few years ago against many banks and the the VISA-Mastercard networks they own regarding their disclosure practices regarding fees and charges related to currency exchange rates used for overseas charges (for USA based accounts). Basically, they were giving bad exchange rates and not disclosing and/or calculating them correctly and charging undisclosed additional fees for overseas transactions. There was a settlement reached and now the court/settlement administrator are going about the complicated matter of disbursing the settlement monies among the class members. As this was a class action lawsuit brought on behalf of all persons in a similar situation, i.e., those who had credit cards from the defendant banks AND had purchases during the relevant time period in foreign currencies, you did not have to be an actual party to the suit to benefit. When the case was settled, the court/settlement administrator's job is to contact all persons in the class about the settlement and its terms.

I too, about 3-4 days ago, received the settlement terms and conditions and forms from the Court/administrator. I am a Citi customer and have a decade worth of charges in Thailand and SE Asia on a Citi mastercard. I suspect that the USA card companies sorted out their customer charges and those who had foreign charges during the relevant period and these were the ones notified by the court. People who never used their cards overseas would not be part of the settlement class and would not be notified.

Basically, if you want a quick and dirty US$ 25, you can just fill in whatever color form it was for a no-proof (sorta like those no-documentation subprime loans) and get a no hassles 25 bucks. I personally, as I have tens of thousands of dollars in charges over the relevant years so am going for the full 3% refund. I can submit documentation of the annual charges and hopefully end up with a few thousand dollars maybe.

[thaihome]

You do not have to submitt any documentation to back up your claimed amount:

"Although you do not need to submit any documentation with your claim form, you should retain the supporting materials, along with a written explanation of the methodology used to determine the estimates listed on your claim form, in case your claim is designated for audit by the Settlement Administrator." Can I submit estimated yearly foreign transactions for years where my records are either incomplete or I no longer have statements to support my transactions?

This is rather old news but good that someone brought it up again.

TH

[tattoodrob]

You do not have to submitt any documentation to back up your claimed amount:

"Although you do not need to submit any documentation with your claim form, you should retain the supporting materials, along with a written explanation of the methodology used to determine the estimates listed on your claim form, in case your claim is designated for audit by the Settlement Administrator." Can I submit estimated yearly foreign transactions for years where my records are either incomplete or I no longer have statements to support my transactions?

This is rather old news but good that someone brought it up again.

TH

ok its not a scam but unless you used your card a hel_l of a lot then i expect theres not a lot to collect....but ok every dollar helps!!!!

[Tinkelbell]

This is NOT a scam. There was a class-action lawsuit brought in the USA a few years ago against many banks and the the VISA-Mastercard networks they own regarding their disclosure practices regarding fees and charges related to currency exchange rates used for overseas charges (for USA based accounts). Basically, they were giving bad exchange rates and not disclosing and/or calculating them correctly and charging undisclosed additional fees for overseas transactions. There was a settlement reached and now the court/settlement administrator are going about the complicated matter of disbursing the settlement monies among the class members. As this was a class action lawsuit brought on behalf of all persons in a similar situation, i.e., those who had credit cards from the defendant banks AND had purchases during the relevant time period in foreign currencies, you did not have to be an actual party to the suit to benefit. When the case was settled, the court/settlement administrator's job is to contact all persons in the class about the settlement and its terms.

I too, about 3-4 days ago, received the settlement terms and conditions and forms from the Court/administrator. I am a Citi customer and have a decade worth of charges in Thailand and SE Asia on a Citi mastercard. I suspect that the USA card companies sorted out their customer charges and those who had foreign charges during the relevant period and these were the ones notified by the court. People who never used their cards overseas would not be part of the settlement class and would not be notified.

Basically, if you want a quick and dirty US$ 25, you can just fill in whatever color form it was for a no-proof (sorta like those no-documentation subprime loans) and get a no hassles 25 bucks. I personally, as I have tens of thousands of dollars in charges over the relevant years so am going for the full 3% refund. I can submit documentation of the annual charges and hopefully end up with a few thousand dollars maybe.

johnie, you said it best.

It covers every information that everyone needs to know.

Same as you, I'm leaning more on the option 3, considers that I 've taken my annual trip to TL, sometimes staying at a hotel, charged for meals and shoppings for the past two decades. The big one is when I paid by Chase cc to cover medical bill for my brother in BK. in '96 and '99 in which he paid back later.

I just hope anyone who was holding cc from those co: and had been doing quite a lot of charging in TL or other overseas countries should go all out, what you got to loose.

After all it was our money in the first place.

Although I received this notice 3 weeks ago, just put it on the side, didn't pay much attention until I spot the news about it again, so I know it's real.

Wish you all "A MERRY CHRISTMAS "!

[toptuan]

I did extensive travel for business overseas during all those years, and primarily used my Visa card for expenses. By my preliminary estimates, I would expect a refund between $1500-2000 USD. Thanks to the OP, Tinkelbell, who has added to my Christmas joy.

[onethailand]

Option 2 for me, because I can't possibly get all the transaction records as I closed two accounts during that period as well. But heck, we're talking 10.7 years worth of spending on 5-6 different cards, of which at least 3 of them were charging foreign transaction charges. I'll take any bonus I can get.

[daveh]

Option 2 for me, because I can't possibly get all the transaction records as I closed two accounts during that period as well. But heck, we're talking 10.7 years worth of spending on 5-6 different cards, of which at least 3 of them were charging foreign transaction charges. I'll take any bonus I can get.

I selected option 2 as well. It is *much* easier to estimate how much time I've spent abroad than money. It would have taken me quite a bit of time and effort to get all my statements from this period (many of which I don't currently have).

[chicowoodduck]

Hi Everyone,

I would like to share this good news to all our dear VISA forumers. I decide to post it here since there is a sizable of American , UK and other western expats live in TL or came here as a tourist.

This is a letter that I receive from U.S. Didtrict Court Settlement Administrator last week.

Quoted...."

Dear xxxxx xxxx,

We are writing on behalf of the U.S. District Court because you are eligible to receive a Court-approved refund of fees charged to your eligible cards, which are Visa, Master Card, and/or Diner Club credit, charged and/or debit/ATM cards. The fees were based on FOREIGN transactions, including both purchases and ATM withdrawals,

from February 1, 1996 to November 8, 2006.

Please read the enclosed Natice explaining the proposed $336 million settlement and all of your options under the settlement..."

Therefore, if anyone of you received your credit cards (from those co: mentioned above) in the U.S.A, and had done foreign transaction in the period from Feb. 1 to Nov. 8, 06. Go to www.ccfsettlement.com or telephone at 1-800-945-9890.

Good luck & MERRY CHRISTMAS

smells like a new scam...or is it an old one repeated??

have you any previous knowledge that any of your cards have been used here without your permission...if not then definite scam...probabaly want your card details etc to refund you

Nope, it the real deal, however, if you aren't one of those who saved every shred of travel paperwork, and aren't one of those globe trotting types, the Easy Refund of $25.00 is the no brainer part of the Class Action Suit. The last US class action suit I was involved in (annuity fund) took three years to settle. Ahhh.....the life of the almost rich and almost famous.

[JonnieB]

if you aren't one of those who saved every shred of travel paperwork, and aren't one of those globe trotting types, the Easy Refund of $25.00 is the no brainer part of the Class Action Suit.

I am lucky as Citi provides an annual statement for my credit card. I have most of these saved as I use them for my tax documentation. Also, allot of your card information may be available through your internet banking site. Makes is easier that I have had only one card during the time too.

[thaihome]

Having pretty much lived off overseas ATM withdrawls from BofA to the tune of $3K a month since 1999, I hope to get a nice bonus when this is settled, maybe next year. Have about half the bank statements and can use them as back up for the estimate.

TH

[peter991]

I had big hopes after reading the start of the thread, until I saw the line: If you made a transaction (purchase, cash advance, cash withdrawal or internet transaction) in a foreign currency on a Visa-, MasterCard- or Diners Club-branded credit, charge or debit/ATM card issued in the United States ...

No help for us Aussies

Peter

[pumpuiman]

I filed my claim.....but don't expect to see any cash for years.

As suggested in the letter, the appeals process could take years to resolve.

Don't start counting your chickens yet.

But do file...it was easy online.

[Dustoff]

An interesting thread..

I moved over here in early 2001 and used my credit/debit card for several years to move the cash I needed over here from my American Bank. The apparent exchange rate was depressing but I thought there was little I could do about it.

Then, sometime in 2005, I started noticing a 1% charge for 'international transactions" plus a sizeable atm fee showing up in my online-accessible account. When I questioned this with my bank, they remarked that these charges had always been in place and that they were just never previously reported to me. Say what? Isn't this like taxation without representation or something? Hidden charges by an institution I trust to manage my money honestly and with total transparency?

Yeah, right - get a clue Mr. Dustoff...

Sometimes lawyers get it right...

[jfchandler]

Interesting case... As an American, I have several credit/debit cards that are specifically mentioned in the settlement provisions (such as Visa-branded BofA), but have NEVER received any notice/communication about this (from the various banks or the claims folks), until reading here on the TV forum. Yet I too have had tons of foreign transactions on my various U.S. cards during the past five years since I began coming to Thailand. I'm not that hard to find, if anyone wanted to try. I still have current open accounts with all the various applicable cards... What's up with that???

Also, it seems the settlement applies to two different kinds of transactions on covered cards:

1) those like I had with BofA ATMs, where at some point the bank actually started charging separate, noticed fees with every ATM withdrawal. It used to drive me crazy that every time I withdrew BofA money in Thailand, I'd get three listings in my BofA bank statement -- the amount withdrawn in baht cash converted to U.S. $, the flat BofA transaction fee and the BofA % foreign currency transaction fee. Needless to say, don't do that anymore...

2) But even more insidious, in my view, are all the various credit card transactions that all of us have done through the years where they simply have done a conversion on the Thai located purchase that shows on your statement in U.S. $. But the card holder has no clue of what exchange rate was used or what fees were figured into calculating that result. So you'd have no idea of the details of the transaction.

For readers here, if you look at the claims web site, it's clear that this settlement applies to foreign transactions, both in ATM withdrawals and credit card purchases. And it appears to pretty much cover all the major U.S. based cards, because the settlement includes Visa, MC and Diner's Club branded cards that are part of the Plus, Cirrus, etc networks. That's a HUGE card base.

[NovaBlue05]

My wife and I each receieved one of those notices. She set up a checking account here in the US and sent her sister back on the farm in Nong Bua Lamphu a debit card to make transactions off of it. For the last 6 years, she has been making 2-3 ATM withdraws a week from the village . Of course , there are our own credit and debit card transactions for several trips over there. Not sure how this affects charges associated with all that but I'll certainly take the time to file

[Tinkelbell]

I did extensive travel for business overseas during all those years, and primarily used my Visa card for expenses. By my preliminary estimates, I would expect a refund between $1500-2000 USD. Thanks to the OP, Tinkelbell, who has added to my Christmas joy.

Hi Toptuan,

The pleasure is all mine.

It's a season greetings, so it's time for joyful celebrating.

That' quite a nice figure in which you expect to get. I hope it won't keep us waiting too long ( as the other poster put it). It was reported on the news last week that the banks ( the Defendants) already agreed to pay out $336 million to settled this class action lawsuit.

OK, it it takes longer than we anticipate, then I wouldn't mind at all as I see this money was lost and someone found it and returning to the rightful owner.

[Beardog]

Interesting case... As an American, I have several credit/debit cards that are specifically mentioned in the settlement provisions (such as Visa-branded BofA), but have NEVER received any notice/communication about this (from the various banks or the claims folks), until reading here on the TV forum. Yet I too have had tons of foreign transactions on my various U.S. cards during the past five years since I began coming to Thailand. I'm not that hard to find, if anyone wanted to try. I still have current open accounts with all the various applicable cards... What's up with that???

Also, it seems the settlement applies to two different kinds of transactions on covered cards:

1) those like I had with BofA ATMs, where at some point the bank actually started charging separate, noticed fees with every ATM withdrawal. It used to drive me crazy that every time I withdrew BofA money in Thailand, I'd get three listings in my BofA bank statement -- the amount withdrawn in baht cash converted to U.S. $, the flat BofA transaction fee and the BofA % foreign currency transaction fee. Needless to say, don't do that anymore...

2) But even more insidious, in my view, are all the various credit card transactions that all of us have done through the years where they simply have done a conversion on the Thai located purchase that shows on your statement in U.S. $. But the card holder has no clue of what exchange rate was used or what fees were figured into calculating that result. So you'd have no idea of the details of the transaction.

For readers here, if you look at the claims web site, it's clear that this settlement applies to foreign transactions, both in ATM withdrawals and credit card purchases. And it appears to pretty much cover all the major U.S. based cards, because the settlement includes Visa, MC and Diner's Club branded cards that are part of the Plus, Cirrus, etc networks. That's a HUGE card base.

Yea I finally had to shelf my BofA card in 2005. I inquire almost 1 or 2 times every year about what the real charges & % I was being charged & was told aaaahhh I dunno basicaly. in 2005 the heavier year in transactions(way more than the 800,000

initial wire in in 2004) I fiqured I was getting slammed for 11 maybe 12% by B of A. At least Citibank will sit down & cordially calculate & tell you what the charges are.I guess they were charging the 5% -6% rate at both ends exchange rates + commission. I sure hope & am assuming they fixed this problem . The beginning of 2007 my transaction fees seem to go down 50% after forcing the bank manager to be transparent & was verbal enough for every foreigner to know about the problem. My guess is the bank mgr. wasn't being a nice guy but maybe they caught the bogus transaction scam.

I go in for a boatload to complete our house & will soon Know!

Last time it was 1% + currency rate & the normal charge once for a visa charge.

all very confusing, but switching bank cards sure has made it easier.When i opened my acct with citibank the man that took care of me told me about the classaction & to watch as all afflicted or affected will be compensated.

If it takes as long as it is taking for the EXXON Valdeze payout--------I sure hope they pay good interest!

[jonniebkk]

branded credit, charge or debit/ATM card issued in the United States ... No help for us Aussies

People love to bash lawyers...until they need one or benefits from their actions. You need a more litigious society like the US