Some Bank of America customers could soon receive payments following a $2.25 million class-action settlement related to ATM fees at 7-Eleven convenience stores.
The lawsuit, filed in 2019, accused Bank of America of improperly charging customers multiple balance inquiry fees during a single transaction – even though only one balance inquiry was made, according to court documents.
The fees were assessed at out-of-network ATMs owned by FCTI, Inc., located inside 7-Eleven locations. According to the settlement website, both sides agreed to the settlement to avoid lawsuit costs and going to trial.
“As a result, the Settlement Class Members will receive relief now rather than years from now, if at all,” the website added.
Eligible customers may include Bank of America account holders who were assessed more than one out-of-network balance inquiry fee during the same visit to a FCTI, Inc.-owned ATM located in a 7-Eleven store from May 1, 2018, to November 16, 2021. To qualify, customers must not have made a valid claim and received a payment in the lawsuit Weiss v. FCTI.
Settlement class members will receive a share of the remaining funds after expenses, with payments determined by the number of current accountholders and valid claims submitted by past accountholders.
Members of the settlement class may have received notice through the mail or by email.
The settlement has received preliminary approval, and the court will hold a hearing in the coming months on whether to give final approval. The final approval hearing is scheduled for Friday, Aug. 21.
Bank of America has denied any wrongdoing.
