VISA/MC forex settlement

[ronin]

Did you receive one of these in the mail recently? At first I thought it was some kind of scam, but on further investigation, it seems legit. I'm going to submit opt 2 since I've spent a lot of time on vacations out of the country over the last 10 yrs. See what happens. Free money (OK not free, they screwed me on the exchange rates).

 

[Khan]

Got it yesterday.

Do I still get $25 if I haven't been outside the USA?

 

[Sarah in SC]

Got mine too, I'm thinking about option 3, since we lived on the sailboat in the Bahamas for 3 months during the time window. It will be interesting to see how my "quicken mania" will do me right in figuring this out! But I may get lazy and do option 2.
Khan, I would try it if I were you.

 

[ronin]

Got it yesterday.

Do I still get $25 if I haven't been outside the USA?

I read the fine print cover to cover and the answer is yes. The easy option applies to everyone who submits the claim. Only opt 2 or 3 require actual foreign travel.

 

[calmloki]

I'm for option 2 - not that we used our credit card much out of country (more a cash kinda guy), but it looks like they estimate based on 1% of an average $2500/week. Thanks to all those who stay in nice places rather than dockside dives!

 

[WanderALot]

I'm for option 2 - not that we used our credit card much out of country (more a cash kinda guy), but it looks like they estimate based on 1% of an average $2500/week. Thanks to all those who stay in nice places rather than dockside dives!

I got this in the mail and it looks like option 2 is definitely the way to go. Option 1 assumes you only spent 1 week outside the US in last 10 years, which at $2500 gives you a refund of $25. Option 3 requires you to list all the spending overseas. They make it sound like they might award more than 1% for these purchases, but it might be hard to document all the purchases. As with most LBYMers though, I know we didn't spend $2500 a week! For option 2, it looks like they assume you've been spending 2500/week for each the week of travel during this time. This will work out to be more than $500 for DW and me each!

 

[Sarah in SC]

Thanks Wander, I hadn't had a moment to review it that closely. I'll take Door number 2 myself, then, as well. I certainly didn't spend $2500 a week!

 

[twaddle]

Did anybody file their claim online?

https://www.ccfsettlement.com/claim/

I did. And I think that's all I need to do. But their FAQ isn't very clear on the matter.

 

[TromboneAl]

Yes, I claimed mine online. Yes, that should be all you need to do.

With all the scams around, the real thing almost went in the trash. DW gave it to me saying "This is bogus, right?"

We took the easy $25 option -- didn't spend much.

I wonder how many of these they sent out?

 

[DangerMouse]

I'm trying to decide between Option 2 and 3. In the period they specify DH was probably gone for at least 100+ weeks on overseas travel. I can probably come up with at least 26 weeks for myself.

 

[WanderALot]

I'm trying to decide between Option 2 and 3. In the period they specify DH was probably gone for at least 100+ weeks on overseas travel. I can probably come up with at least 26 weeks for myself.

Please correct me if I'm wrong, but it sounds like if you choose Option 3, you'll have to come up with account numbers and "dollar" amounts for how much was charged during the trip. As I said earlier, I doubt this will amount to $2500/week (so I'll come up ahead if they assume that I would have spent $2500/week) and secondly, it would be a gigantic pain to come up with all the paperwork.

 

[DangerMouse]

I know the thought of digging out the paperwork does put me off option 3. However, a lot of it was business travel and there were some trips where the amount spent was a minimum of $10k. I'll have to work out what my time is worth and how complicated the whole thing will be.

 

[Brat]

Gee, we must have missed that. We have an Alaska Visa, were they in the settlement?

 

[UncleHoney]

I got one addressed to my mom yesterday but since she has been dead almost four years I think I'll pass. Hardly worth a stamp to collect $25 and then split it three ways.

You guys can divvy up her share.

 

[donheff]

Please correct me if I'm wrong, but it sounds like if you choose Option 3, you'll have to come up with account numbers and "dollar" amounts for how much was charged during the trip. As I said earlier, I doubt this will amount to $2500/week (so I'll come up ahead if they assume that I would have spent $2500/week) and secondly, it would be a gigantic pain to come up with all the paperwork.

I am back and forth on #2 and #3. 3 says you need to give the account number and dollar figures. But at the top of the page it says "estimate." I don't have good enough records to give an auditable detailed response but I could crank out an estimate so I may try.

 

[skyline]

I think the mailings also state that you can get "upto..." x% for option 2 & 3. Which probably means that they'll prorate the actual amount based on how many people end up responding. That may mean you get far less than 1% for option 1 and 3% for option 3.

 

[JDARNELL]

I threw mine n the shred box yesterday thinking it was junk mail. Dug it out and went back to Quicken to see what I was doing during that time. Took option 1 online so I guess my ER SWR went up by .0000XXX.

Tomcat98

 

[Khan]

I filed online.

$25 is $25.

 

[calmloki]

It may be a while. Per a Fat Walleteer quoting from the online FAQ:

When will I get my refund?(top)
Refunds will be paid after the Court finally approves the settlement, and approves any award of attorneys' fees, awards to the class representatives, and allocation of the settlement fund among Settlement Damages Class members, and any appeals related to that approval are resolved. It is possible that this could take several months, or, if appeals are filed, several years. You may want to check this website from time to time for updates.
​

Didn't take long to claim online though, and free money is free money.

</SPAN>

 

[ronin]

Digging thru the old calendars, came up with 87 days legit for opt 2. Probably have more since I used to zip down to Baja for 2-3 day surf sessions fairly regularly. Round it up to 100 or so. Should allow me to retire approx 11.3 sec earlier according to excel. On a happier note, my school district is swirling the financial drain, again, and may have to offer the golden handshake. Timing could be awesome for me! Fingers and toes crossed!

 

[Darryl]

Yep just the $25 option 1 online to save the stamp. I did study the thing for awhile was thinkining scam scam scam.

 

[lswswein]

Thanks for the thread guys. I was debating if it was a scam till I saw this. Btw I picked Option2

-h

 

[chinaco]

We have been out of the country many many times on vacation since the settlement. But most of the money was spent directly with a domestic company for arrangements. They in-turn spent internationally.

I am going for the $25.

Visa/MC is getting too big and too powerful when it comes to holding sway over our currency transactions.

Electronic currency and transaction are becoming so prevalent... I am beginning to wonder when we (as a country) will need to make fundamental changes.

 

[Nords]

Option 2-- seven weeks x $25/week.

Correcting that future value to present value (after appeals) and adjusting for inflation & over-subscription puts us at... about 25 cents.

With all of spouse's government-sponsored travel to Thailand over the last five years, it's a shame she hasn't been ID'd for this yet.

 

[Dreamer]

I received it also. I was looking for some papers for our health spending account today and ran across it. I have not read it yet though.