Full Breakdown
Bank of America Settles $2.25 Million Class Action Over Double-Charged ATM Fees at 7-Eleven
5/16/2026, 10:12:32 PM
Settlement Overview
Bank of America will pay $2.25 million to settle a consumer class-action alleging it charged two out-of-network balance-inquiry fees for a single ATM use at FCTI-owned machines inside 7-Eleven stores. The case, *Schertzer et al. v. Bank of America N.A.*, covers transactions from May 1 2018 through November 2021 and is pending in the Southern District of California.
Background & Context
The complaint was filed in 2019, claiming the double-fee practice breached the bank’s account agreements and violated consumer-protection expectations. A related 2024 settlement, *Weiss v. FCTI Inc.*, addressed similar fees imposed by the ATM operator, establishing a precedent for the present case.
Eligibility Criteria
Claimants must (1) have held a Bank of America checking account during the covered period, (2) have been charged more than one out-of-network balance-inquiry fee at a single FCTI ATM inside a 7-Eleven, (3) not have received payment from the earlier *Weiss* settlement, and (4) be a current holder (automatic payout) or a former holder who files a claim through the settlement website by the deadline.
Timeline
2019 – complaint filed; May 2018-Nov 2021 – alleged double-fee period; June 29 2026 (or July 29 2026) – claim deadline for former customers; July 7 2026 – opt-out/objection deadline; Aug 21 2026 – final approval hearing.
Financial Details
The $2.25 million fund will be reduced by attorney fees, administrative costs, and court expenses before distribution. Remaining funds will be divided equally among valid claimants, yielding modest individual payments that typically range from a few dollars to several tens of dollars, depending on the total number of claims filed.
Official Statements & Responses
Bank of America denied wrongdoing and did not admit liability. The settlement website emphasized that class members would receive relief promptly rather than after years. Kroll Settlement Administration handles claims (phone 833-447-8321; P.O. Box 225391, New York, NY 10150-5391).
Criticism & Opposition
Plaintiffs contend that charging multiple out-of-network fees for one balance inquiry violated the bank’s contract and constituted an unfair, deceptive practice, arguing the fee structure was undisclosed and the double charge systematic, and that the bank breached its contractual obligations.
Conflicting Reports & Gaps
Sources conflict on the claim-filing deadline (June 29 vs. July 29 2026) and the fee-period end date (Nov 16 vs. Nov 26 2021). The number of eligible claimants and the net settlement fund after deductions remain undisclosed, leaving uncertainty about the eventual per-claim payout.
Verbatim Quote
> “As a result, the Settlement Class Members will receive relief now rather than years from now, if at all.” — Settlement website
What’s Next
The court will hold a final approval hearing on Aug 21 2026. If approved, payments will be issued automatically to current holders and to former holders who filed claims by the deadline. Claimants can monitor progress at OONFeeSettlement.com or contact the administrator at 833-447-8321.
