Bank of America (NYSE: BAC) has agreed to pay $2.25 million to resolve a class-action lawsuit alleging the bank improperly charged some customers multiple out-of-network balance-inquiry fees for single transactions at 7-Eleven ATMs. The settlement, filed in the U.S. District Court for the Southern District of California, covers current and former account holders who were assessed more than one such fee between May 1, 2018, and November 16, 2021.
Settlement Terms and Eligibility
Under the proposed agreement, eligible class members must submit claims by June 29, 2026, to receive a portion of the net settlement fund after court-approved deductions for legal fees and administrative costs. Current Bank of America customers who received a notice may receive automatic payments if the court approves. A final fairness hearing is scheduled for August 21, 2026, in San Diego federal court.
The class includes U.S. account holders who incurred duplicate out-of-network balance-inquiry fees at ATMs operated by FCTI, Inc. inside 7-Eleven stores. Those who previously received compensation in a related case, Weiss v. FCTI, are excluded from this settlement.
Legal Background
The lawsuit, Schertzer et al. v. Bank of America N.A., alleged that the bank violated its customer contracts by charging two $2.50 fees for a single balance inquiry. Bank of America has denied any wrongdoing but chose to settle to avoid further litigation costs and risks. The case has a lengthy history: the Ninth Circuit revived the breach-of-contract claim in 2024, ruling that a "balance inquiry" refers to a customer's request for account balance information, not merely an ATM's electronic message to the bank. On remand, the district court granted class certification, noting that the suit centers on customers being charged twice for one inquiry.
Industry Context
This settlement is part of a broader wave of litigation targeting ATM fee practices. In December 2025, Visa and Mastercard agreed to pay $167.5 million to resolve separate ATM-fee class actions, with several banks already contributing $66 million in related settlements. The cases highlight ongoing scrutiny of fee structures in the banking and payments industry, as regulators and consumers push for greater transparency.
Payouts to individual class members will depend on the total number of valid claims and any deductions approved by the court. No estimate has been provided for per-claimant amounts. The settlement administrator, Kroll Settlement Administration, has established a court-authorized website and phone line for inquiries.
Next Steps
The settlement is not yet final; it requires judicial approval. If the court signs off, payments will be distributed from the net fund on a pro-rata basis. Customers uncertain about their eligibility should contact the settlement administrator directly. The official website is the only authorized source for case information.
