Bank Of America 7-Eleven Settlement Guide: Eligibility Rules, Deadlines, And Claim Form Steps
The Bank of America 7 Eleven settlement resolves a contract dispute over out-of-network balance inquiry fees charged at FCTI-owned ATMs inside 7-Eleven stores between May 1, 2018, and November 16, 2021. The settlement establishes a $2,250,000 fund to provide cash payments to qualifying account holders.
According to preliminary approval orders issued by the U.S. District Court for the Southern District of California, this $2.25 million class action settlement resolves allegations that Bank of America improperly assessed duplicate fees at retail convenience store terminals.
Current and former account holders who incurred overlapping out-of-network costs may be entitled to financial compensation.
This litigation addresses critical banking consumer protection standards under National Bank Act frameworks. The settlement allows financial institutions to resolve multi-year consumer fee challenges without admitting liability or procedural errors.
Key Takeaways
- Total Fund Value: A $2.25 million settlement fund covers nationwide class members, court fees, and administrative expenses.
- Eligible Window: Transactions must have occurred at FCTI-owned ATMs inside 7-Eleven locations between May 1, 2018, and November 16, 2021.
- Filing Deadline: Former account holders must file a claim form online or by mail postmarked no later than June 29, 2026.
- Automatic Distribution: Current Bank of America checking or savings account holders do not need to file a claim; credits apply automatically upon final approval.
This analysis relies on official U.S. District Court filings for the Southern District of California and settlement administration records.
What is the Bank of America 7 Eleven ATM Fee Lawsuit?
The lawsuit, officially titled Schertzer, et al. v. Bank of America, N.A., et al. (Case No. 3:19-cv-00264-DMS-MSB), alleges that the financial institution breached its deposit account agreements by double-charging consumers during single ATM interactions.
Bank of America has agreed to establish a $2.25 million common fund to resolve the litigation, avoiding the costs and risks of an extended trial.
This case mirrors several recent retail banking challenges, including the recent Capital One 360 settlement payout, where institutions faced similar scrutiny over automated account processing systems.
The plaintiffs argued that the bank assessed two distinct out-of-network (OON) balance inquiry fees even when a customer performed only one continuous session at an ATM.
The legal filings show that the financial institution denies all allegations of contractual breach, improper fee collection, or corporate wrongdoing.
How Do I Know if I Qualify for the Bank of America 7 Eleven Settlement?
To qualify for the Bank of America 7 Eleven settlement, an individual must have held a Bank of America consumer deposit account and been charged more than one out-of-network balance inquiry fee during a single visit to an FCTI-owned ATM located inside a 7 Eleven store between May 1, 2018, and November 16, 2021.
Class membership is restricted by specific operational definitions and historical timelines established by the court. To confirm eligibility, review the criteria below:
Bank of America 7 Eleven Settlement Eligibility Criteria
- Account Type: Must be a consumer checking, savings, or deposit account issued by Bank of America, N.A.
- ATM Operator: The transaction must have occurred on an ATM owned and operated by FCTI, Inc. (Financial Connectivity & Technology Inc.) situated inside a 7-Eleven retail store.
- Fee Structure: Your account statements must show at least two out-of-network balance inquiry fees assessed during a single interaction.
- Exclusion Criteria: You are ineligible if you filed a valid claim and received a payout under the prior Weiss v. FCTI, Inc. settlement.
Why Did These Duplicate ATM Fees Occur?
The technical core of this class action stems from how backend banking systems route and log out-of-network financial data. When an account holder utilizes a non-proprietary ATM network, the machine queries the issuing bank’s server to check available funds before dispensing cash.
The conflict arose because the software interface on FCTI-owned terminals treated a balance check immediately preceding a withdrawal as two standalone transaction requests.
Bank of America’s core ledger system read these automated inquiries as distinct data transmissions, deducting multiple out-of-network fees for what the customer assumed was one unified session.
Myth vs. Reality: Bank of America Class Action Truths
| Misconception / Myth | Regulatory Reality and Fact |
| Every Bank of America customer gets a piece of the $2.25 million fund. | Payouts are strictly limited to those charged multiple out-of-network fees at 7-Eleven locations during the class window. |
| You must find and submit old paper ATM receipts from 2019 to get paid. | Internal bank transactional records are used by the administrator to verify eligibility; former users only need their Class Member ID or account details. |
| All eligible individuals must fill out an online form immediately. | Active checking and savings account holders are fast-tracked and receive their distribution automatically without filing forms. |
| This case is identical to the data breach settlements reported this year. | This settlement addresses consumer contract fee structures, not cybersecurity, data loss, or identity theft concerns. |
| Payouts will be distributed to consumers before the end of this month. | No funds can be legally released until after the final fairness hearing concludes later this summer. |
While financial disputes rely heavily on internal ledger histories to determine individual cash distributions, consumer relief operations in other sectors, such as the utility-focused Duke Energy Florida bill refund, use automated billing adjusters to credit affected accounts directly.
What is the Estimated Bank of America Settlement Amount Per Person?
The individual Bank of America 7 Eleven settlement payout amount per person is calculated on a pro-rata basis. The final cash allocation depends directly on the number of valid claims submitted by former account holders before the deadline, minus court-approved legal fees and administrative costs deducted from the $2.25 million fund.
Key Fact: According to official court guidelines from the Southern District of California, class counsel may request up to 25% of the gross fund, totaling $562,500, for legal expenses.
The remaining net settlement fund will be divided equally among all verified class members on a pro-rata basis. If a low percentage of former account holders submit valid claims, the individual payout amount increases for all participating class members.
Verification guidance indicates that standard class action turnouts hover near 10%, meaning the per-person return could significantly scale beyond basic baseline projections.
How to File a Valid Claim Form Online?
If you are classified as a former account holder, you must submit a claim form to receive compensation using the official process:
- Locate the physical postcard or email notice sent by the Class Action Settlement Administrator containing your unique Class Member ID.
- Navigate directly to the official filing portal at www.OONFeeSettlement.com or the direct claim link at www.OOPSettlement.com.
- Select the “Submit Claim” interface and enter your credentials to populate your historical transaction details.
- Review your contact information and select your preferred payment method: electronic transfer or a mailed paper check.
- Complete the legal attestation section verifying under penalty of perjury that you owned the account during the class window.
- Submit the digital form before the server deadline on Monday, June 29, 2026.
Meeting explicit processing deadlines remains critical across all forms of public and private restitution, a standard seen in concurrent federal distribution tracking like the Social Security Fairness Act payments update.
Legal Distinctions: Schertzer v. Bank of America vs. Weiss v. FCTI
A common area of confusion across current financial news feeds is the relationship between this case and previous ATM litigation. Consumers must recognize that Schertzer v. Bank of America targets the consumer-facing financial institution, whereas Weiss v. FCTI, Inc. focused on the terminal vendor.
The Weiss lawsuit concluded with a claim deadline in October 2024, penalizing the ATM vendor for misleading screen prompts. The current Schertzer action penalizes Bank of America for breaching deposit agreements through its internal fee assessment practices.
According to court records, if you already recovered funds during the Weiss vendor resolution, the administrator will exclude your claim from this distribution.
Key Deadlines: Submission, Exclusion, and Final Court Approval
| Procedural Event / Deadline | Calendar Date | Required Consumer Action |
| Claim Filing Deadline | June 29, 2026 | Deadline for former account holders to submit online or mail-postmarked forms. |
| Exclusion Postmark Deadline | July 7, 2026 | Deadline to submit a written request to opt out and preserve individual rights to sue. |
| Objection Filing Deadline | July 7, 2026 | Deadline to submit formal legal objections regarding the settlement fairness to the court. |
| Final Fairness Hearing | August 21, 2026 | The court evaluates final approval at 1:30 PM PT in the Southern District of California. |
Will I Get Money Automatically From the Bank of America Settlement?
Whether you receive payment automatically depends on your current account status. Active Bank of America account holders do not need to take action; their accounts will be credited automatically.
Former account holders must file a claim form online by June 29, 2026, to receive a payout.
According to the official settlement documentation, the class administrator splits distribution pathways to minimize friction for existing consumers. If your checking or savings account remains open, court-appointed class counsel ensured that benefits bypass the paperwork phase entirely.
If you closed your account after 2021, the system cannot run an internal ledger adjustment, making manual claim submission mandatory.
Bank of America Customer Support and Dispute Resolution Directory
For day-to-day banking questions, debit card issues, or non-settlement fee disputes, consumers can contact the bank directly through standard help channels.
- General Customer Service Hours: Live support is available Monday through Friday from 8:00 AM to 11:00 PM ET, and Saturday and Sunday from 9:00 AM to 6:00 PM ET.
- Fee Dispute Direct Line: Call (800) 432-1000 for standard account line inquiries.
- Settlement Inquiries: Do not call local branches regarding this lawsuit. Contact Kroll Settlement Administration directly at (833) 447-8321 or review documentation at www.OONFeeSettlement.com.
Conclusion
Eligible consumers must act before the upcoming summer deadlines to protect their rights and secure their portions of the fund. Current account holders can await automatic ledger adjustments, while former customers must submit claims through the official portal before June 29, 2026.
The Bank of America 7 Eleven settlement provides a resolution for out-of-network fee disputes affecting individual account holders during the 2018 to 2021 class period.
Frequently Asked Questions
Do I need to provide bank statements from 2018 to qualify?
No. The settlement administrator utilizes Bank of America’s internal transactional databases to verify all eligible out-of-network balance inquiry fees. Former account holders only need to confirm their identities and account timelines on the official portal.
Is there a fee to file a claim online?
No. Filing a claim form through the official settlement website is entirely free. Avoid any third-party websites attempting to charge a processing fee to submit class action documentation.
Can I participate if my account is currently overdrawn?
Yes. If you meet the structural criteria for transactions between 2018 and 2021, you remain a class member. However, for active accounts, automatic credits may be absorbed by existing negative balances or outstanding fees.
What happens if I do nothing before the deadline?
If you are an active account holder, you still receive your automatic distribution. If you are a former account holder and do nothing, you forfeit your payout portion and waive your right to pursue independent litigation against the bank.
Can business checking accounts join this settlement?
No. The class definition in Schertzer v. Bank of America specifies consumer deposit accounts. Commercial accounts, corporate payroll structures, and institutional lines are excluded from this settlement fund.
Does this settlement involve ATMs located inside gas stations?
Yes, provided the gas station contains an authorized 7-Eleven retail store and the machine was owned and operated by FCTI, Inc. Standalone gas station ATMs belonging to other network providers are not included.
Similar to how regulatory exclusions govern class action eligibility, strict administrative baselines also apply to federal aid programs, as detailed in the recent SNAP benefits immigration status guidance.
What if I received a notice but no Class Member ID?
You can still submit a claim form manually on the official website by providing your full legal name, historical address associated with the account, and approximate account numbers for validation.
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice; please consult the official settlement administrator or legal counsel for binding updates.
