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Thousands of customers may now qualify for compensation under the major Bank of America 7-Eleven settlement after Bank of America agreed to pay $2.25 million to resolve claims involving multiple ATM out-of-network fees charged at 7-Eleven locations.
The growing attention around the Bank of America 7-Eleven settlement comes as eligible accountholders learn they may be entitled to a payment if they were charged repeated balance inquiry fees during the same ATM visit between 2018 and 2021.
The lawsuit accused Bank of America of improperly charging duplicate out-of-network ATM fees at FCTI-owned ATMs located inside 7-Eleven convenience stores across the United States.
Now, affected customers are watching closely as the Bank of America settlement moves toward final approval in 2026.
What Is the Bank of America 7-Eleven Settlement About?
The Bank of America 7-Eleven settlement stems from a class action lawsuit claiming that customers were charged more than one out-of-network balance inquiry fee during the same ATM session at certain 7-Eleven ATM locations.
According to the lawsuit, users checking their account balance at FCTI-owned ATMs inside 7-Eleven stores were sometimes charged two separate fees instead of a single fee.
Plaintiffs argued this practice violated customer agreements and improperly increased ATM charges for account holders.
Although Bank of America denied wrongdoing, the bank agreed to a $2.25 million class action settlement to resolve the claims.
The case is officially known as:
Schertzer, et al. v. Bank of America N.A., et al., Case No. 3:19-cv-00264-DMS-MSB, in the United States District Court for the Southern District of California.
Who Qualifies for the Bank of America Settlement?
The Bank of America 7-Eleven settlement applies to customers who:
- Had a Bank of America account
- Used an FCTI-owned ATM located in a 7-Eleven store
- Were charged more than one out-of-network balance inquiry fee during the same visit
- Used the ATM between May 1, 2018, and Nov. 16, 2021
- Did not already receive payment in the related Weiss v. FCTI Inc. matter
The settlement could affect a large number of customers because 7-Eleven locations are widespread across the country and frequently used by bank customers seeking convenient ATM access.
How Much Money Could Customers Receive?
At this time, the exact payment amount under the Bank of America settlement has not been finalized.
Instead, eligible customers will receive a proportional share of the net settlement fund after:
- attorney fees,
- administration costs,
- and other approved expenses are deducted.
The amount each class member receives will depend largely on:
- the number of valid claims filed,
- and the number of duplicate fees charged to each customer.
Because this is a class action settlement, payouts may vary significantly among participants.
Current Customers vs Former Customers
One important detail in the Bank of America 7-Eleven settlement is the distinction between current and former accountholders.
Current Bank of America Customers
Current customers generally do not need to file a claim form to receive settlement benefits. Payments may be issued automatically if eligibility can be confirmed through bank records.
Former Bank of America Customers
Former customers must submit a valid claim form before the deadline in order to receive compensation.
This requirement has become one of the most discussed parts of the Bank of America settlement, as many former accountholders may not realize they still qualify.
Bank of America Settlement Claim Deadline
The claim deadline for the Bank of America 7-Eleven settlement is:
June 29, 2026
Former accountholders who fail to submit a claim before this deadline may lose the opportunity to receive any settlement payment.
The settlement administrator also warns that claims are submitted under penalty of perjury, meaning fraudulent submissions could lead to legal consequences.
Objection and Exclusion Deadline
Class members who wish to exclude themselves from the Bank of America settlement or formally object to the settlement terms must act before:
July 7, 2026
Customers who exclude themselves will not receive settlement benefits but will retain the right to pursue separate legal claims individually if they choose.
Final Approval Hearing Scheduled for August 2026
The final court hearing for the Bank of America 7-Eleven settlement is currently scheduled for:
Aug. 21, 2026
At that hearing, the court will decide whether the settlement should receive final approval.
If approved, payments to eligible class members would likely be distributed afterward according to the settlement administration process.
Why the Bank of America 7-Eleven Settlement Matters
The growing attention around the Bank of America 7-Eleven settlement highlights increasing scrutiny over ATM fee practices and banking transparency.
Many consumers rely on convenience store ATMs because:
- they are widely available,
- accessible during late hours,
- and often located near residential areas.
However, repeated or unexpected ATM charges have become a major complaint among banking customers nationwide.
This settlement also shows how class action lawsuits continue to pressure large financial institutions into addressing fee-related disputes even when wrongdoing is denied.
Bank of America and ATM Fee Controversies
Bank of America is one of the largest financial institutions in the United States, serving millions of customers nationwide.
Like many large banks, the company has faced criticism over:
- overdraft fees,
- ATM charges,
- account servicing costs,
- and consumer banking practices.
The Bank of America settlement tied to 7-Eleven ATM fees is another example of how banking fee structures remain under legal and regulatory scrutiny.
Consumer advocates argue customers often struggle to understand:
- ATM fee disclosures,
- out-of-network costs,
- and balance inquiry charges.
Settlement Administrator Information
The Bank of America 7-Eleven settlement is being administered by Kroll Settlement Administration.
Claims Administrator
Schertzer v. Bank of America
c/o Kroll Settlement Administration
P.O. Box 225391
New York, NY 10150-5391
Phone: 833-447-8321
Important Reminder for Customers
Customers are advised not to submit a claim unless they genuinely qualify under the settlement terms.
Submitting false information could:
- delay legitimate claims,
- reduce payments for eligible customers,
- and potentially create legal consequences.
Anyone unsure about eligibility should review the FAQ and official settlement information carefully before filing.
Final Thoughts on the Bank of America 7-Eleven Settlement
The Bank of America 7-Eleven settlement has become one of the most closely watched consumer banking class actions of 2026, especially for customers who frequently used ATM services at 7-Eleven locations.
While Bank of America continues to deny wrongdoing, the $2.25 million agreement could still provide financial relief for eligible customers affected by duplicate out-of-network ATM fees.
With deadlines approaching quickly, former customers who qualify for the Bank of America settlement may want to review their eligibility before the June 29, 2026 claim deadline passes.
As more consumers pay attention to ATM fees and banking transparency, the Bank of America 7-Eleven settlement is likely to remain an important example of how class action lawsuits can impact large financial institutions and consumer fee practices nationwide.