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Bank of America to Pay $2.25M to Settle ATM Fee Lawsuit
27 days agoUS
Bank of America has agreed to a $2.25 million class action settlement to resolve claims it charged multiple out-of-network fees at 7-Eleven ATMs. If you used a Bank of America card at a 7-Eleven ATM between May 1, 2018, and Nov. 16, 2021, you may be eligible for a payout.
Key Insights
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Settlement Amount:: Bank of America will pay $2.25 million to resolve the lawsuit.
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Eligibility:: The settlement benefits accountholders who were assessed more than one out-of-network balance inquiry fee during the same visit to an FCTI ATM located in a 7-Eleven store during the specified period.
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No Admission of Wrongdoing:: Bank of America has not admitted any wrongdoing but agreed to the settlement to avoid further legal costs.
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Claim Deadline:: Former Bank of America accountholders must file a claim by June 29, 2026, to receive settlement benefits. Current accountholders may receive payment automatically.
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Final Approval Hearing:: The final approval hearing for the Bank of America settlement is scheduled for Aug. 21, 2026.
In-Depth Analysis
The class action lawsuit, *Schertzer, et al. v. Bank of America N.A., et al.*, Case No. 3:19-cv-00264-DMS-MSB, alleged that Bank of America breached its contract with customers by charging multiple out-of-network fees for balance inquiries at 7-Eleven ATMs. Plaintiffs claimed they were charged two out-of-network fees for a single balance inquiry. The settlement aims to compensate those affected by these charges.
How to Claim:
1.
Current Customers: No action is needed; payments will be issued automatically if the settlement is approved.
2.
Former Customers: File a claim form online or by mail by June 29, 2026. Claim forms are available on the settlement website.
Important Dates:
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Exclusion and Objection Deadline: July 7, 2026
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Claim Form Deadline: June 29, 2026
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Final Approval Hearing: Aug. 21, 2026
FAQs
Who is eligible for the settlement?
Bank of America accountholders who were charged more than one out-of-network balance inquiry fee during the same visit to an FCTI-owned ATM located in a 7-Eleven store between May 1, 2018, and Nov. 16, 2021.
Do I need proof of purchase to file a claim?
Yes, a Bank of America account number is required.
What is the potential individual reward?
The potential individual reward is to be determined (TBD) and will depend on the number of valid claims filed.
Key Takeaways
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If you are a current Bank of America customer and were affected by these fees, you may receive an automatic payment if the settlement is approved.
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Former Bank of America customers must file a claim by June 29, 2026, to receive compensation.
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The settlement provides a refund for improperly charged ATM fees, offering financial relief to eligible customers.
Discussion
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