Bank of America settles 7-Eleven ATM fee lawsuit for $2.25 million
Bank of America has agreed to pay $2.25 million to settle Schertzer, et al. v. Bank of America, N.A., et al., a class action in the Southern District of California that accused the bank of charging more than one out-of-network balance inquiry fee during a single visit to FCTI-owned ATMs inside 7-Eleven stores from May 1, 2018, to Nov. 16, 2021.
The settlement applies to U.S. Bank of America checking account holders who were hit with those fees and who did not already make a valid claim and receive payment in the related Weiss v. FCTI case.
Under the agreement, current Bank of America accountholders do not need to file anything, and their shares would be deposited directly into their accounts after final approval.
Former accountholders must submit a claim by June 29, 2026, while opt-outs and objections are due July 7, 2026, and the final fairness hearing is set for Aug. 21, 2026, at 1:30 p.m. PT.
The settlement papers say BofA “specifically denies any wrongdoing or liability in this Action,” and the preliminary approval order says the deal came from “serious, informed, non-collusive negotiations” with the bank.
Court filings say the case turned on whether a single balance inquiry at an ATM should trigger one fee or two.
The operative notice says the class was certified on May 20, 2025 for Bank of America checking account holders in the United States who were assessed more than one out-of-network balance inquiry fee during the same visit to a FCTI ATM in a 7-Eleven store during the class period.
The settlement fund is $2.25 million before deductions, and class counsel may seek fees of up to 30 percent of the amount, plus up to $35,000 in costs, while a service award of up to $25,000 is available for the class representative.
The money will not move until the court grants final approval and any appeals are resolved, leaving the ultimate payment per person dependent on how many current accountholders remain in the class and how many former customers file valid claims.
The settlement website says former accountholders must submit their claims by Monday, June 29, 2026, and the Aug. 21 hearing will decide whether the agreement can take effect.
