Bank of America is preparing to hand out $2.25 million in a settlement over fees charged at ATMs located within 7-Eleven stores.
The class action lawsuit alleges that BofA charged its customers two out-of-network fees for balance inquiry requests when only a single balance inquiry was made at the ATMs located at the convenience store chain.
The 2019 lawsuit, filed in the U.S. District Court for the Southern District of California, claims that the second-largest US bank by total assets breached its contract with customers when hitting them with excessive fees, claiming the ATMs should have only charged the customers one fee for a balance inquiry.
Bank customers may be eligible for settlement proceeds if they used the ATMs operated by FCTI, Inc. at the 7-Eleven stores to check their account balance between May 1st, 2018 and November 16th, 2021. The customers also must not have received money from a separate 2024 settlement in a lawsuit filed against FCTI, Inc.
A claim seeking restitution must be filed by July 29th. Claimants will receive an equal pro-rata share of the settlement fund.
A court is expected to approve the settlement on August 21st.
According to the proposed settlement, Bank of America denies any wrong doing and says it chooses to settle the lawsuit to avoid “the burden, expense, risk and uncertainty of continuing litigation, and in order to put the litigation to rest.”
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