Anyone who purchased tickets on Ticketmaster over the past 12 years is entitled to a refund, the company said, for processing fees charged at the time of purchase.

According to Business Insider, Ticketmaster will give refunds for the processing fees charged from ticket purchases between Oct. 21, 1999 and Oct. 19, 2011.

The refund? A mere $1.50 per ticket.

Ticketmaster is under obligation to give customers the refund after a class action settlement in 2003 said the company profited from processing feeds without reporting so.

One small detail. Ticketmaster will only give a refund for up to a maximum of 17 tickets purchased in the 12 year window.

Any customer part of the UPS subclass of the lawsuit can collect an additional $5 for false expedited delivery.

Business Insider said customers eligible for a refund will most likely receive their payment as vouchers within 30 days after the settlement gets its final approval on May 29, 2012. Customers have four years to redeem their refunds and can only redeem two at a time.

According to lawsuit, if the settlement goes through, customers will automatically receive credits at the e-mail listed for the Ticketmaster account. The refund will be in the form of a code which can be used for future purposes.

While $1.50 seems small, the settlement will cost Ticketmaster $11.25 million. Any remaining funds of the allocated amount that customers do not collect will be donated to charity, the company said.

Despite the settlement suit, Ticketmaster could continue to profit from processing fees in transactions as long as the company is transparent about their earnings on its Web site, Business Insider reported.

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