Introduction
In the world of everyday banking, small fees can add up quickly — and sometimes, those fees might not even be fair. A recent class action settlement involving Bank of America and ATMs located inside 7-Eleven stores has brought attention to this very issue. Bank of America has agreed to pay $2.25 million to resolve claims that certain customers were charged double out-of-network balance inquiry fees for what should have been a single transaction.
If you’ve ever used a Bank of America debit card at a 7-Eleven ATM between May 1, 2018, and November 16, 2021, you could be eligible for compensation. This blog post breaks down everything you need to know about the settlement, who qualifies, how to claim your share, and why these types of lawsuits matter in protecting consumer rights.
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What Exactly Happened?
The lawsuit, officially known as Schertzer et al. v. Bank of America, N.A., et al. (Case No. 3:19-cv-00264-DMS-MSB), alleges that Bank of America improperly charged customers two out-of-network fees for a single balance inquiry at ATMs owned and operated by FCTI, Inc. inside 7-Eleven convenience stores.
Normally, when you check your balance at an out-of-network ATM, you might expect one fee from the ATM operator and possibly another from your bank. However, the plaintiffs claimed that in these specific cases, Bank of America charged multiple out-of-network balance inquiry fees during the same visit — even though only one inquiry was made. This allegedly violated the bank’s own deposit account agreement with customers.
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Bank of America has not admitted any wrongdoing. Like most settlements, the bank chose to resolve the matter to avoid the time, expense, and uncertainty of continued litigation. The $2.25 million settlement fund will be distributed among eligible class members after legal fees, administrative costs, and other expenses are deducted.
Who Is Eligible for the Settlement?
You may qualify if you meet these criteria:
You were a Bank of America accountholder (current or former).
You used a Bank of America debit card at an FCTI-owned ATM located inside a 7-Eleven store.
You were charged more than one out-of-network balance inquiry fee during a single visit.
The transaction occurred between May 1, 2018, and November 16, 2021.
Important notes:
Current Bank of America customers may automatically receive payments without filing a claim (depending on final court approval).
Former customers must submit a valid claim form by the deadline.
If you already received compensation from a related FCTI settlement (such as Weiss v. FCTI), you might not be eligible for this one.
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Payout amounts will be determined on a pro-rata basis — meaning the more valid claims filed, the smaller each individual payment might be. Still, every little bit helps, especially when it comes to unexpected banking fees.
How to File a Claim
Visit the Official Settlement Website: Go to oonfeesettlement.com — this is the only authorized site for this settlement.
Check Your Eligibility: Review the notice and FAQ sections for full details.
Submit a Claim:
Current customers: Often no action needed.
Former customers: Fill out the online claim form or download the PDF and mail it.
Deadline: Claim forms must be submitted by June 29, 2026 (or as specified on the site — always verify the latest date). The final approval hearing is scheduled for August 21, 2026.
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Keep records of your old bank statements if possible. While proof of purchase isn’t always required, having transaction details can strengthen your claim.
Why ATM Fees Matter More Than You Think
ATM fees are one of the most common — and frustrating — parts of modern banking. Out-of-network fees can range from $2 to $5 per transaction, plus additional charges from your own bank. When double or multiple fees occur unexpectedly, it feels like a breach of trust.
Class action lawsuits like this one play a crucial role in holding large financial institutions accountable. They don’t just compensate affected individuals; they also encourage banks to review and improve their fee structures and technology systems to prevent similar errors in the future.
Over the years, Bank of America and other major banks have faced multiple ATM-related class actions. These cases highlight ongoing issues in the banking industry around transparency, fee disclosure, and customer agreements.
Broader Implications for Consumers
This settlement is part of a larger conversation about consumer protection in financial services. In the United States, regulations like the Electronic Fund Transfer Act (EFTA) and Regulation E aim to protect consumers from unfair banking practices. However, enforcement often relies on private lawsuits when systemic issues arise.
For immigrants, international students, and working professionals who frequently use convenience store ATMs (especially late at night or in areas with limited bank branches), such fees can be particularly burdensome. 7-Eleven stores are ubiquitous, making their ATMs a go-to option for many.
If you’re unsure whether you were affected, it’s worth checking old statements or contacting Bank of America’s customer service for transaction history. Even small refunds can add up when multiplied across thousands of class members.
What Happens Next?
After the final approval hearing, the settlement administrator (Kroll Settlement Administration) will distribute the funds. Payments could be issued via check, direct deposit, or account credit, depending on the method chosen.
Stay updated by bookmarking the official website and avoiding unofficial sites or scams promising “guaranteed” higher payouts — these are common during high-profile settlements.
Final Thoughts
The Bank of America 7-Eleven ATM settlement is a reminder that vigilance with your finances pays off — literally. Whether you receive $10, $50, or more, it’s money that was allegedly taken unfairly and is now being returned.
If you think you qualify, don’t wait. Visit oonfeesettlement.com today and take the necessary steps. Share this information with friends and family who might have used Bank of America cards during that period — you could be helping someone recover lost funds.
In an era where banking fees are under increasing scrutiny, settlements like this empower consumers and push for greater transparency. Stay informed, review your statements regularly, and never hesitate to question unexpected charges.