(Reuters) - Visa and Mastercard ( MA ) have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high.

The plaintiffs' lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves consumers who withdrew cash from bank-operated ATMs since 2007.

Two other related class actions - one from consumers who used non-bank ATMs and a third from businesses that own independent ATMs - are pending in D.C. federal court.

The proposed deal is subject to court approval. The defendants have all denied any wrongdoing.

Visa will pay $104.6 million in the accord, and Mastercard ( MA ) will pay $92.8 million, the settlement papers showed. The bank defendants earlier settled claims for $66 million.

Visa and Mastercard ( MA ) did not immediately respond to requests for comment.

The plaintiffs' attorneys said the settlement will "deliver immediate and assured relief."

The plaintiffs in the three cases said Visa and Mastercard's ( MA ) ATM network rules caused them to pay artificially higher amounts for access fees. Collectively, they were seeking damages of more than $9 billion.

The resolution comes after the U.S. Supreme Court in April turned down an appeal from Visa and Mastercard ( MA ) challenging a lower court judge's ruling allowing the groups of plaintiffs to band together to sue as class actions.

Visa and Mastercard ( MA ) had argued that the judge failed to conduct a "rigorous analysis" before certifying the class-actions.

The proposed settlement class was estimated to have at least 175 million members.

Consumers will have a chance to object to the terms of the settlement, including the amount of the fund and any legal fees that awarded

Visa and Mastercard ( MA ) are defendants in a long-running legal proceeding in Brooklyn federal court over claims that they overcharged merchants and others in transactions involving debit and credit cards.