Bank of America agrees to $2.25 million settlement in ATM fee lawsuit

Bank of America's $2.25 cardinal colony implicit slope fees charged astatine ATMs wrong 7-Eleven stores, means immoderate customers whitethorn beryllium getting a payout.

A class-action lawsuit, which originates from a 2019 ailment filed successful national tribunal successful confederate California, claimed that Bank of America had breached its declaration with customers by assessing excessive fees. Customers were charged 2 out-of-network fees for equilibrium enquiry requests erstwhile lone a azygous equilibrium enquiry was undertaken astatine ATMs owned by FCTI, Inc., located successful 7-Eleven stores, the suit alleged.

Customers who whitethorn beryllium eligible for a payout utilized an FCTI-owned ATM wrong a 7-Eleven store from May 1, 2018, to November 16, 2021, according to the settlement. Bank of America and those who filed the suit opted for a colony "to debar ongoing litigation costs and going to trial," according to the colony website.

Bank of America denied immoderate wrongdoing successful the settlement.

Fidelity $2.5 cardinal settlement: Agreement reached successful breach incidental has payouts up to $5K. See who qualifies

Here's who's eligible for portion of the $2.25 cardinal Bank of America settlement.

Who's eligible for outgo successful Bank of America settlement?

Those eligible for payouts from the colony are U.S. customers who had Bank of America checking accounts and were assessed much than 1 out-of-network equilibrium enquiry interest during the aforesaid sojourn to a FCTI-owned ATM located astatine a 7-Eleven store from May 1, 2018, to November 16, 2021 – and did not get payments from a assertion arsenic the effect of an earlier colony successful the lawsuit Weiss vs. FCTI, which was settled successful 2024.

Account holders whitethorn person received a announcement via email oregon postcard (or both) astir the people enactment settlement. A last proceeding for tribunal support of the colony is scheduled for August 21, 2026.

If you are not definite whether you qualify, you tin telephone (833) 447-8321 oregon spell to the colony website for much information.

How overmuch wealth tin you get from the Bank of America settlement?

That's uncertain. Members of the colony people volition get an adjacent stock of the $2.25 cardinal colony fund. However, the colony doesn't database however galore radical whitethorn beryllium eligible for payouts successful tribunal records, noting the colony people is "so numerous."

Do you person to record a assertion successful the Bank of America settlement?

No. Current Bank of America relationship holders who got notices astir the colony bash not request to bash anything; they volition automatically get a payout.

Past Bank of America relationship holders should record a assertion via the colony website by July 29.

If you privation to beryllium excluded from the colony – keeping your rights to writer Bank of America separately – oregon privation to entity to the court's decision, you indispensable enactment earlier July 7. For much information, spell to the colony website.