Bank of America $2.25 Million Settlement: ATM Fee Refunds for 7-Eleven Customers

Bank of America $2.25 Million Settlement: ATM Fee Refunds for 7-Eleven Customers

Bank of America has agreed to a $2.25 million settlement regarding excessive fees charged at ATMs located in 7-Eleven stores. The class-action lawsuit alleged that Bank of America breached its contract with customers by charging two out-of-network fees for a single balance inquiry at ATMs owned by FCTI, Inc. Customers who used these ATMs between May 1, 2018, and November 16, 2021, may be eligible for a payout as part of the settlement.

The settlement is intended to avoid ongoing litigation costs and a trial, according to the settlement website. Bank of America has denied any wrongdoing in the settlement. Eligible customers include those with Bank of America checking accounts who were charged more than one out-of-network balance inquiry fee at FCTI-owned ATMs in 7-Eleven stores during the specified period. Customers who did not receive payments from a previous settlement in the case Weiss vs. FCTI may qualify for this settlement.

Customers who are part of the settlement class will receive an equal share of the $2.25 million settlement fund. Current Bank of America account holders who received notices about the settlement will automatically receive a payout. Former account holders must file a claim by July 29 to be eligible for a payout. Those who wish to be excluded from the settlement or object to the court's decision must take action before July 7. For more information, visit the settlement website.

In conclusion, Bank of America's settlement over ATM fees at 7-Eleven stores may result in payouts for eligible customers who were charged excessive fees. Current account holders will receive automatic payouts, while former account holders must file a claim by July 29 to be included in the settlement. Customers have the option to exclude themselves from the settlement or object to the court's decision by July 7.