Bank of America $2.25M ATM Fee Class Action Settlement

Bank of America account holders whom the company charged more than one out-of-network balance inquiry fee during a single visit to an FCTI-owned ATM located in a 7-Eleven store between May 1, 2018, and Nov. 16, 2021, may be eligible to claim a cash payment from a class action settlement.

Bank of America, N.A. agreed to pay $2.25 million to resolve a class action lawsuit alleging it improperly charged customers two out-of-network balance inquiry fees for a single balance inquiry at certain ATMs in 7-Eleven stores.

Who can file a claim?

Class members must meet all of the following criteria:

• They are or were a Bank of America account holder in the United States.
• Bank of America charged them more than one out-of-network balance inquiry fee during the same visit to an FCTI Inc.-owned ATM located in a 7-Eleven store.
• The transaction(s) occurred between May 1, 2018, and Nov. 16, 2021.
• They did not make a valid claim and receive payment in Weiss v. FCTI Inc., Case No. 37-2024-00016908-CU-BT-NC.

Individuals who received an email or postcard notice about the settlement are likely class members.

There are two categories of class members:

• Current account holders: Individuals who still have an open Bank of America account
• Past account holders: Individuals who closed their Bank of America account after receiving fee charges

How much can class members get?

Pro rata payment: Each class member will receive an equal, pro rata share of the net settlement fund, which is the total settlement amount minus attorneys’ fees and costs, settlement administration costs and service awards.

How to claim a Bank of America payout

Current account holders do not need to take any action. The settlement administrator will automatically send payment if the settlement receives final approval.

Past account holders must submit a claim to receive payment. They can file online using the online claim form or download, print and complete the PDF claim form and mail it to the settlement administrator.

Settlement administrator's mailing address: Schertzer v. Bank of America, c/o Kroll Settlement Administration, PO Box 225391, New York, NY 10150-5391

Required information

To file an online claim, class members must provide the class member ID from the settlement notice they received.

Payout options

• Electronic payment (online claims only)
• Paper check (default or if filing by mail)

$2.25 million settlement fund breakdown

The $2,250,000 settlement fund includes:

• Settlement administration costs: To be determined
• Attorneys’ fees: Up to $675,000
• Attorneys’ costs: Up to $35,000
• Service awards to class representative: Up to $25,000
• Payments to eligible class members: The remainder of the fund

Important dates

• Deadline to file a claim: June 29, 2026
• Deadline to request exclusion: July 7, 2026
• Final fairness hearing: Aug. 21, 2026

When is the Schertzer v. Bank of America payout date?

The settlement administrator will distribute payments after the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Bank of America breached its contract with customers by charging two out-of-network balance inquiry fees for a single balance inquiry at FCTI-owned ATMs in 7-Eleven stores.

Bank of America denied any wrongdoing but agreed to settle to avoid the cost and uncertainty of continued litigation.

Sources

1. Claim form
2. Class notice
3. Settlement agreement
4. Settlement FAQ