Bank of America customers risk missing out on a share of a $2.25M settlement over ATM overcharges. Former account holders must file a claim by June 29, 2026, while current customers are paid automatically. Act now or lose your chance to recover overpaid fees.
Bank of America Settlement: Deadline Fast Approaching
Bank of America is facing a class-action settlement worth $2.25 million after allegations that it overcharged customers at ATMs located in 7-Eleven stores. Customers who used these ATMs between May 1, 2018, and November 16, 2021, may be eligible for compensation. The bank is accused of charging multiple out-of-network balance inquiry fees for a single transaction, potentially breaching contracts with customers.
Bank of America has denied any wrongdoing but agreed to settle to avoid prolonged litigation costs and a trial.
Who Can Claim and How
The settlement divides eligible claimants into two main groups. Current Bank of America account holders do not need to take any action to receive their share of the settlement, as payments will be processed automatically. Former account holders, however, must file a claim to recover their overpaid fees. Those who previously received compensation from the Weiss v. FCTI class-action lawsuit are excluded from this settlement.
To file a claim, former customers will need the class member ID provided in the notice received via email or postcard. Claims can be submitted either online or by mail, with the deadline set for June 29, 2026. Missing this deadline will result in losing the right to compensation.
Settlement Distribution and Final Approval
Once the claim forms are submitted and verified, the payments will be distributed following the final approval hearing scheduled for August 21, 2026. The exact amount each claimant receives will depend on the total number of successful claims submitted. While the settlement is intended to reimburse overcharged fees, the amounts may vary slightly due to administrative costs and the number of approved claims.
Take Action Before It’s Too Late
For former account holders, it’s crucial to act quickly and ensure all documentation is submitted correctly. Current account holders should monitor their accounts for the automatic credit. This settlement is part of a broader effort to ensure banks are held accountable for unfair or duplicate charges, and it represents an opportunity for thousands of customers to recover money that was unfairly taken.
