Bank of America to pay $2.25 million to settle 7‑Eleven ATM fee class

Bank of America has agreed to a $2.25 million settlement to resolve a class‑action lawsuit accusing the bank of charging more than one out‑of‑network balance‑inquiry fee during a single visit to Financial Consulting & Trading International (FCTI) ATMs inside 7‑Eleven stores between May 1 2018 and Nov. 16 2021 [1].

The case, filed in the Southern District of California as Schertzer v. Bank of America, centered on whether a single balance inquiry should trigger one fee or two. Plaintiffs argued that BofA’s practice violated its contract with account holders by levying two fees for the same transaction. The bank denied any wrongdoing but chose to settle to avoid the cost and uncertainty of continued litigation [3].

Under the settlement, current BofA checking‑account holders need take no action; the settlement administrator will automatically deposit any awarded share once the court grants final approval. Former account holders must file a claim by June 29 2026, with opt‑out and objection deadlines of July 7 2026, and a final fairness hearing scheduled for Aug. 21 2026 at 1:30 p.m. PT [1].

The $2.25 million fund is subject to deductions for attorneys’ fees (up to 30 % of the amount), costs (up to $35,000), and a service award for the class representative (up to $25,000). The remaining balance will be divided pro rata among eligible class members, though the exact payout per person will depend on the number of current account holders and the volume of valid claims filed [3].

While the settlement does not establish liability, it highlights ongoing scrutiny of ATM fee practices and may prompt banks to review fee disclosures for out‑of‑network transactions. The upcoming fairness hearing will determine whether the settlement can take effect, leaving the ultimate benefit to consumers uncertain until the court’s final approval.