In coming weeks, more than $425 million in refunds and restitution is going out to millions of consumers nationwide, thanks to a recent round of crackdowns on deceptive credit card practices.
And another $410 million–from Bank of America–is already landing in pockets of millions who got stuck with excessive debit card fees.
In most cases, no one’s going to get rich off these settlements. In fact, folks will likely get back just pennies on the dollar.
But still, cash is cash. And a little extra in the wallet is always welcome.
With both the credit card and BofA rebates, consumers don’t need to do anything to get their money. The companies are required to contact customers, whose refunds will be automatically deposited into an existing account. If they’re not a current customer, they’ll be mailed a check.
But be on the lookout if you think you’re eligible. The checks are easy to mistake for junk mail that gets tossed in the recycling bin.
Story by Claudia Buck for the Sacramento Bee.
- Beware Of Using Debit Cards In Restaurants: Could Cost You A Bank Penalty
- Debit Card Should Be Used Carefully If Funds Are Tight
- Who’s Putting Ads Into Your Bank Statements
- iPhone May Become Your Electronic Wallet
- Credit Card Firms Compete with No Interest Transfers
- IRS Refund? Do NOT Take Refund Anticipation Loan