Disclaimer: This is a news summary, not legal advice. Always confirm details on the official settlement website (OONFeeSettlement.com) or with a qualified attorney before acting.
Quick Answer
If you were a Bank of America account holder who used an FCTI-owned ATM inside a 7-Eleven store between May 1, 2018 and November 16, 2021, and you were charged more than one out-of-network balance inquiry fee in a single visit, you may qualify for a share of the $2.25 million Schertzer v. Bank of America settlement.
The claim form deadline is June 29, 2026. Current Bank of America customers will generally be paid automatically. Former customers must file a claim at OONFeeSettlement.com to receive a payout.
Final payout amounts are pro rata, so they depend on how many people file. The Final Approval Hearing is set for August 21, 2026.
What is the high cost of convenience?
We have all been there. You are running late, you need cash immediately, and you pop into the nearest convenience store to use their ATM, resigning yourself to the inevitable out-of-network fees. But what happens when your bank charges you multiple fees for a single transaction?
That is exactly the question at the heart of a major class action lawsuit that has finally reached a resolution. As of May 2026, Bank of America has agreed to a $2.25 million settlement to resolve claims that it improperly charged its customers multiple out-of-network fees during single visits to ATMs located inside 7-Eleven stores.
What is the Schertzer v. Bank of America lawsuit about?
The class action stems from a highly specific grievance regarding breach of contract.
According to the plaintiffs, Bank of America engaged in deceptive practices regarding its fee structure at third-party ATMs, specifically those owned and operated by FCTI, Inc., which are predominantly found inside 7-Eleven convenience stores across the United States.
The lawsuit alleges that when a Bank of America customer used a 7-Eleven ATM to check their balance and then withdraw cash during the same physical visit, they were hit with two separate out-of-network fees. The plaintiffs argued that a balance inquiry paired with a withdrawal should be a single transaction, and that double charging violated the bank's own account agreements.
Bank of America has denied any wrongdoing or breach of contract, but opted to settle for $2.25 million to avoid the prolonged costs and risks of a jury trial.
Who qualifies for a payout?
Not every Bank of America customer qualifies. The class definition is highly specific. You are an eligible Class Member only if you meet all of the following:
- The bank: You were a Bank of America account holder.
- The location: You used an FCTI-owned ATM located inside a 7-Eleven store.
- The timeframe: The transaction occurred between May 1, 2018 and November 16, 2021.
- The action: You were assessed more than one out-of-network balance inquiry fee during the same visit.
- Exclusion: You did not already make a valid claim and receive a payment in the separate Weiss v. FCTI Inc. lawsuit.
How much will the payouts be?
The exact amount of individual compensation is still to be determined.
Because this is a $2.25 million net settlement fund, payouts are distributed on a pro rata (proportional) basis. The final amount you receive depends directly on the total number of valid claims filed by the class. The fewer people who claim, the larger the individual checks will be.
What are the deadlines and how do I file a claim?
The clock is ticking. The court has established strict deadlines for participation.
| Action | Deadline | Note |
|---|---|---|
| Claim form deadline | June 29, 2026 | Must be postmarked or submitted online by this date |
| Exclusion (opt out) deadline | July 7, 2026 | Required if you want to sue Bank of America individually |
| Objection deadline | July 7, 2026 | Tells the court you disagree with the settlement terms |
| Final Approval Hearing | August 21, 2026 | The judge finalizes the settlement at this hearing |
Do I actually need to file a claim?
- Current account holders: If you are a current Bank of America customer who meets the criteria, you generally do not need to file a claim. Your proportional share will be deposited automatically into your account if the settlement is finalized.
- Former account holders: If you closed your Bank of America account, you must submit a claim form to receive your payment.
Claim forms can be filled out directly on the official settlement website at OONFeeSettlement.com.
Note: this $2.25M Bank of America settlement is separate from the much larger $67M ATM Surcharge antitrust lawsuit involving Visa and Mastercard, which is also finalizing payouts in April and May 2026.
The bottom line
If you used a 7-Eleven FCTI ATM as a Bank of America customer between May 2018 and November 2021 and got hit with multiple fees in one visit, file your claim at OONFeeSettlement.com before June 29, 2026 to lock in your share of the $2.25M fund.
