Bank of America has agreed to a $2.25 million settlement to resolve allegations that it improperly charged duplicate balance-inquiry fees at ATMs operated by FCTI Inc. inside 7-Eleven stores. The proposed class-action settlement, which awaits final court approval, covers fees incurred between May 1, 2018, and November 16, 2021.
Under the settlement terms, current Bank of America account holders who were affected will receive automatic credits if the court approves the deal. Former account holders, however, must submit a claim by June 29, 2026, to be eligible for a payout. The settlement administrator, Kroll Settlement Administration, has begun notifying potential class members via postcard or email.
Key Dates and Court Proceedings
The U.S. District Court for the Southern District of California has scheduled a final fairness hearing for August 21, 2026, at 1:30 p.m. PT before Judge Dana M. Sabraw. Objections and requests to opt out of the settlement must be filed by July 7, 2026. Payments will not be distributed until after final approval and any appeals are resolved.
Class Definition and Eligibility
The class includes Bank of America customers who used an FCTI ATM at a 7-Eleven during the class period and were charged more than one out-of-network balance inquiry fee per visit. Out-of-network fees apply when customers use ATMs outside Bank of America's network. Judge Sabraw noted in a February 2025 order that the class could be substantial, with plaintiffs' data identifying 65,000 potential members for just May and June 2018, and likely "multiples of that figure" for the entire period.
Settlement Terms and Distribution
Payouts will be distributed on a pro rata basis, with each eligible class member receiving an equal share of the net settlement fund after deducting court-approved attorneys' fees, expenses, administration costs, and any service awards. Class counsel may request up to 30% of the settlement—$675,000—in fees, plus costs of up to $35,000. Bank of America denies any wrongdoing and has agreed to the settlement without admitting liability.
Background and Legal Context
The case, Schertzer, et al. v. Bank of America, N.A., et al., stems from allegations that the bank breached customer contracts by charging two out-of-network balance inquiry fees for a single inquiry. The dispute escalated after the 9th U.S. Circuit Court of Appeals revived the breach-of-contract claim in July 2024, directing the district court to reconsider class certification. The appeals court disagreed with Bank of America's interpretation of the contract's "balance inquiry" language.
This settlement is part of a broader series of ATM-fee lawsuits. In December 2025, Visa and Mastercard agreed to a $167.5 million payout in a separate proposed settlement over claims they kept ATM access fees high, while a related case on bank-run ATMs settled for $197.5 million, with other banks paying $66 million in 2021.
Customers who already received a payout from the Weiss v. FCTI Inc. case are not eligible for this settlement. Those unsure of their eligibility can check their status with the settlement administrator.
