Foreign Transaction Fee Settlement

[Tinto]

Courtesy of Fathertime on another board:

Any transactions fees accrued overseas during the 1996-2006 time frame can be reimbursed.

Settlement link.

[GrizGator]

Got my settlement papers in the mail yesterday (did not request them).

You have three choices:

1) $25 flat fee refund.
2) Refund based on the number of days your spent oversees during the time period (I'm using this).
3) Refund based on actual expenses incurred (optional for personal, required for business travel).

Griz

Originally Posted by Tinto

Courtesy of Fathertime on another board:

Any transactions fees accrued overseas during the 1996-2006 time frame can be reimbursed.

Settlement link.

[Tinto]

Griz,

I missed that on my initial review of their web site. Cool!

Here is the link and the options:

Choose Refund Option

If you received a Refund ID with your letter in the mail, please click here.
If you meet the qualification requirements and choose to request a refund, you may use one of three Refund Options. Each of these Options will pay a single refund of fees charged for foreign transactions on ALL of your eligible cards. You may choose only ONE Option from the following:
Refund Option 1 Request an Easy Refund of $25. This Option is recommended if you traveled outside of the U.S. for less than one week or had foreign transactions of less than $2,500 using your eligible cards during the 1996 to 2006 period. (Green Form); OR

Refund Option 2 Request a Total Estimation Refund based on typical spending during travel and your answers to a few questions about your own travel outside of the U.S. This Option is recommended if you traveled outside of the U.S. for more than one week or had foreign transactions of more than $2,500 using your eligible cards during the 1996 to 2006 period. Refunds will be a maximum of 1% of estimated foreign transactions. (Blue Form); OR

Refund Option 3 Request a refund based on information that you provide concerning your Annual Estimated foreign transactions during the 1996 to 2006 period. This Option is recommended if you had extensive foreign travel or foreign transactions and are willing to provide year-by-year information. Refunds will be a maximum of 1% to 3% of foreign transactions. This is the only Option you can use to get a refund for corporate card use. (Red Form)

https://www.ccfsettlement.com/claim/?action=choose

[GrizGator]

I pulled out my calendars for the last 10 years and got to work! I chose to use the second method, where you calculate the number of days you've been out of the country (sorry, but I have no clue how much money I've spent overseas in the last 10 years - who would keep records that long, other than a business). Interesting that when I calculated the total number of days out of the country in 2006, I came up with 106 days, mostly to Colombia! And I still managed to keep my job???

The forms is so easy to complete. Now we'll see how much money I get back. Presumably it will be more than the $25 you get for choosing option 1.

Griz

FTFs used to be non-existent when I started out as a Rookie in 99' and my guess is around 2003, most all Banks began to see how many of us travel abroad and they want their cut, like everything in life .....so there is no way around it other than stop traveling and settle in one place and open a Bank account, but to do that, some countries, like Brazil require a resident visa before you can open your account, and Colombia has similar requirements. I´m with Cap-1 and they are the only Card that does not charge FTFs but they will soon, so I hear.

You can't fight city hall.

[PatrickenCali]

Thanks, Tinto, for the information.

With about 400 days out of the US in this time period, this pays for my membership to the board for the next several years.