Bank of America $2.25M 7-Eleven ATM Settlement: Who Qualifies and How to Claim

Bank of America has agreed to a $2.25 million class action settlement to resolve claims that it improperly charged customers double out-of-network fees for balance inquiries at ATMs inside 7-Eleven stores, offering potential payouts to thousands of current and former account holders across the United States.

The settlement, filed in the U.S. District Court for the Southern District of California under case Schertzer, et al. v. Bank of America, N.A., et al. (No. 3:19-cv-00264-DMS-MSB), stems from allegations that the bank assessed two separate out-of-network balance inquiry fees during single ATM visits at FCTI-owned machines located inside 7-Eleven convenience stores. Bank of America has denied any wrongdoing but agreed to settle to avoid the cost and uncertainty of continued litigation.

Who Qualifies for the Bank of America 7-Eleven Settlement?

Eligibility for the settlement covers a specific group of Bank of America customers. You are a member of the Settlement Class if you are a Bank of America account holder in the United States who was assessed more than one out-of-network balance inquiry fee during the same visit to an ATM owned and operated by FCTI, Inc. — the company that runs many of the ATMs inside 7-Eleven stores — between May 1, 2018, and November 16, 2021.

There is one key exclusion: you must not have already submitted a valid claim and received payment in the related lawsuit known as Weiss v. FCTI, Inc.

Both current and former Bank of America account holders are eligible. Current account holders who receive an email or postcard notice about the settlement do not need to take any action — they will automatically receive their pro-rata share of the Net Settlement Fund if the court gives final approval.

Former account holders, however, must take proactive steps. If you are a past accountholder and received notification, you must file a claim by June 29, 2026 to receive payment. Claims can be submitted online through the official settlement website at oonfeesettlement.com or by mailing in a paper claim form.

Timeline: How the Bank of America 7-Eleven ATM Fee Lawsuit Unfolded

The lawsuit traces back several years. Here are the key dates every affected customer should know:

• May 1, 2018 to November 16, 2021 — The class period during which customers were allegedly charged improper dual out-of-network fees at 7-Eleven ATMs.
• 2019 — The original class action complaint, Schertzer v. Bank of America, was filed in the Southern District of California, alleging breach of contract over the dual fee practice.
• May 2026 — The $2.25 million settlement was announced and notices began going out to class members via email and postcard.
• July 7, 2026 — Deadline to request exclusion from the settlement or to file an objection with the court.
• June 29, 2026 — Deadline for former account holders to submit claim forms.
• August 2026 — Final Fairness Hearing, where the court will consider final approval of the settlement, attorneys' fees, and a service award for the class representative.

How Much Money Will Each Person Get?

The $2.25 million settlement fund will be distributed on a pro-rata basis after deducting attorneys' fees, administrative costs, and a service award for the class representative. Attorneys for the class will likely seek up to one-third of the fund in fees, plus reimbursement of litigation costs, which is standard in class action settlements of this kind.

While the exact payout per person is not yet determined, it will depend entirely on the total number of class members who participate — both current accountholders (who are automatically included) and former accountholders who file valid claims. The more people who file, the smaller each individual payment will be. Based on similar ATM fee class action settlements, individual payouts could range from $25 to several hundred dollars depending on participation rates.

Bank of America has established a dedicated settlement website and a toll-free hotline at (833) 447-8321 where customers can get more information about their specific situation.

Where Things Stand Now: Latest on the Settlement

As of now, the settlement has been preliminarily approved by the court, and notice has been sent to class members. The next major milestone is the Final Fairness Hearing scheduled for August 2026, where U.S. District Judge Dana M. Sabraw will hear any objections and decide whether to grant final approval.

Current account holders who received notice do not need to do anything to receive their payment. Former account holders should have already received either an email or postcard notification with instructions on how to file a claim. If you believe you are eligible but did not receive notice, you can visit the official settlement website and contact the settlement administrator.

What This Means for Bank of America Customers and Investors

For the banking giant, the $2.25 million settlement is relatively minor — Bank of America reported over $25 billion in revenue in 2025 alone. However, the case serves as an important reminder that financial institutions face increasing scrutiny over fee practices, particularly those that impact everyday consumers.

For customers, this settlement highlights the importance of monitoring bank statements for unexpected or duplicate fees. The Consumer Financial Protection Bureau (CFPB) has been actively targeting so-called "junk fees" across the banking industry, and this case aligns with broader regulatory pressure on banks to simplify and fairly disclose fee structures.

For investors, while the settlement amount is immaterial to Bank of America's financial position, it underscores the operational and reputational risks associated with fee-related litigation. Banks with extensive ATM networks and third-party partnerships face ongoing exposure to class action claims over fee disclosure practices.

The Bottom Line: Key Points to Remember

• Bank of America settled for $2.25 million over dual out-of-network ATM fees at 7-Eleven stores
• Eligibility covers May 1, 2018 to November 16, 2021 for FCTI-owned 7-Eleven ATM transactions
• Current accountholders get auto-payments; former accountholders must file by June 29, 2026
• File claims at oonfeesettlement.com or call (833) 447-8321
• Final court approval hearing is set for August 2026