Bank of America’s $2.25 million settlement over bank fees charged at ATMs within 7-Eleven stores means some customers may be getting a payout.
A class-action lawsuit, which originates from a 2019 complaint filed in federal court in southern California, claimed that Bank of America had breached its contract with customers by assessing excessive fees. Customers were charged two out-of-network fees for balance inquiry requests when only a single balance inquiry was undertaken at ATMs owned by FCTI, Inc., located in 7-Eleven stores, the suit alleged.
Customers who may be eligible for a payout used an FCTI-owned ATM within a 7-Eleven store from May 1, 2018, to November 16, 2021, according to the settlement. Bank of America and those who filed the lawsuit opted for a settlement “to avoid ongoing litigation costs and going to trial,” according to the settlement website.
Bank of America denied any wrongdoing in the settlement.
Who’s Eligible for Payment in the Bank of America Settlement?
Those eligible for payouts from the settlement are U.S. customers who had Bank of America checking accounts and were assessed more than one out-of-network balance inquiry fee during the same visit to a FCTI-owned ATM located at a 7-Eleven store from May 1, 2018, to November 16, 2021 — and did not get payments from a claim as the result of an earlier settlement in the case Weiss vs. FCTI, which was settled in 2024.
Account holders may have received a notice via email or postcard (or both) about the class action settlement. A final hearing for court approval of the settlement is scheduled for August 21, 2026.
If you are not sure whether you qualify, you can call (833) 447-8321 or go to the settlement website for more information.
How Much Money Can You Get From the Bank of America Settlement?
That’s uncertain. Members of the settlement class will get an equal share of the $2.25 million settlement fund. However, the settlement doesn’t list how many people may be eligible for payouts in court records, noting the settlement class is “so numerous.”
Do You Have to File a Claim in the Bank of America Settlement?
No. Current Bank of America account holders who got notices about the settlement do not need to do anything; they will automatically get a payout.
Past Bank of America account holders should file a claim via the settlement website by July 29.
If you want to be excluded from the settlement — keeping your rights to sue Bank of America separately — or want to object to the court’s decision, you must act before July 7. For more information, go to the settlement website.
Mike Snider is a national trending news reporter for USA TODAY.
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