Bank of America customers who made balance inquiries at certain 7-Eleven ATMs may be eligible for a payout from a $2.25 million class action settlement, but the window to apply is closing fast.
Lawsuit Alleged Double Fees for Single Transaction
A 2019 class action, filed in California, accused the banking giant of charging customers two separate out-of-network fees for a single balance inquiry at ATMs inside 7-Eleven stores. Although Bank of America has not admitted any wrongdoing, it agreed to the settlement to resolve the claims.
Who Qualifies for the Settlement?
Eligibility hinges on whether you were a Bank of America customer who used an FCTI-owned ATM at a 7-Eleven between May 1, 2018, and November 16, 2021. If you received a postcard or email about the settlement, that’s a strong sign you may qualify.
The settlement covers fees charged for out-of-network balance inquiries—not withdrawals or other transactions. The exact payout per claimant depends on the total number of valid claims filed.
How to File a Claim
Affected customers must submit a claim form online or by mail before the deadline, which has not been extended. The settlement administrator’s website provides details, and those who received direct notice should have instructions included.
For context, this payout comes as many Americans face financial strain from rising costs. A recent Gallup poll found that 67% of Americans are feeling the pinch from surging gas prices, a reminder of how even small fees can add up.
Broader Implications for Consumer Protection
The case underscores ongoing scrutiny of bank fee practices. While Bank of America settled without admitting fault, the lawsuit highlights how out-of-network ATM charges can confuse customers. Similar class actions have targeted other major banks over fee disclosures.
This settlement also comes as a record 25 million young adults are living with their parents amid the housing crisis, showing how financial pressures are reshaping household dynamics.
What to Do Next
If you believe you qualify, check your email or mail for a notice with a unique claim ID. You can also visit the settlement website to verify eligibility and submit a claim. Don’t wait—the deadline is imminent, and late submissions won’t be accepted.
For more on how class actions work and what to expect, see our coverage of the Supreme Court’s recent ruling on Bayer’s Roundup claims, which limited state warning lawsuits.
