If you’re a current or former Bank of America customer, you may be eligible for part of a $2.25 million settlement that resolves allegations the bank overcharged members for out-of-network ATM fees.
A class action lawsuit originally filed in a California federal court in 2019 claimed that, between May 2018 and Nov. 2021, Bank of America breached its contract by charging customers twice for balance inquiries at FCTI-owned ATMs in select 7‑Eleven locations.
Bank of America did not respond to a request for comment from CNBC Select. In court documents, it denied any wrongdoing or liability, stating it agreed to the settlement to avoid “the burden, expense, risk, and uncertainty of continuing litigation.”
A final approval hearing is scheduled for Aug. 21, 2026.
Who's eligible for the Bank of America ATM fee settlement?
The settlement in Schertzer, et al. v. Bank of America N.A., et al, covers Bank of America account holders who were charged more than one out-of-network balance inquiry fee during the same visit to an FCTI-owned ATM located in a 7-Eleven store, between May 1, 2018, and Nov. 16, 2021.
Eligible customers may have received a notification about the settlement by email or postcard. If you are not sure whether you qualify, call 833-447-8321 or visit the settlement website for more details.
Bank of America customers who made a valid claim and received payment in an earlier case, Weiss v. FCTI, Inc., are not eligible for this settlement.
How much money can I get from the Bank of America ATM fee settlement?
Eligible Bank of America customers will receive an equal share of the $2.25 million settlement fund after lawyer fees and administrative expenses are deducted.
The exact amount individual claim members receive will depend on how many valid claims are filed by the July 29, 2026, deadline.
How do I file a claim?
If you currently have a Bank of America deposit account and received a notice about the settlement, you do not need to do anything. A payout should automatically be deposited into your account.
If you are a former Bank of America account holder, however, you should file a claim via the settlement website by July 29, 2026.
If you want to object to the court's decision — or be excluded from the settlement and retain your rights to sue Bank of America separately – you must submit your request by July 7, 2026.
Details for objecting or being excluded are on the settlement website.
How to avoid out-of-network ATM fees
ATM fees might seem like small change, but they've reached a record high. The average fee for out-of-network withdrawals in 2025 was $4.86, with $3.22 charged by the ATM owner and $1.64 by the member's bank. That can easily add up.
Online banks and credit unions are a great option for avoiding ATM fees. Alliant Credit Union provides fee-free access to more than 80,000 third-party ATMs and refunds up to $20 in out-of-network ATM fees each month.
Ally Bank users can access more than 75,000 Allpoint and MoneyPass ATMs for free and get reimbursed up to $10 per statement cycle for fees charged by other U.S. ATM operators.
Alliant Credit Union High-Rate Checking
Monthly maintenance fee
$0
Minimum deposit to open
$25 when opening online or over the phone
Minimum balance
None
Annual Percentage Yield (APY)
0.25% with paperless and recurring monthly electronic deposit
Free ATM network
80,000+ Alliant network ATMs
ATM fee reimbursement
Up to $20 per month
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Ally Bank Spending Account
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
None
Annual Percentage Yield (APY)
0.10% less than $15,000 minimum daily balance; 0.25% over $15,000 minimum daily balance
Free ATM network
43,000+ Allpoint® ATMs
ATM fee reimbursement
Up to $10 per statement cycle
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Premium checking accounts are another good way to avoid fees: HSBC Premier Checking rebates up to five qualifying third-party ATM fees per billing cycle and Chase Sapphire Banking customers enjoy unlimited reimbursement of fees levied by other ATM operators worldwide.
HSBC Premier Checking Account
Account requirements
To waive $50 monthly fee, you need to maintain a balance of at least $100,000 across deposit, investment, retirement and business accounts, enroll $5,000 in monthly direct deposits from a non-HSBC account, have a first mortgage serviced by HSBC or have status as an HSBC Private Bank client
Eligible accounts
HSBC deposit, investment and mortgage accounts
Benefits
International banking, preferred rates, zero foreign transaction fees on debit card, shared status with family members, professional financial advice, opportunity to earn a cash bonus
Terms apply.
Chase Sapphire℠ Banking
Combined account minimum to qualify
To waive $25 monthly fee, at least $75,000 daily balance in Chase checking or qualified linked Chase accounts
Eligible accounts
Chase checking, savings and other balances
Benefits
Zero foreign transaction fees, global ATM fee reimbursement, zero wire transfer fees, sports and entertainment lounge access, early ticket and priority event seating, relationship savings rates, Chase Offers, pairs with Chase Sapphire Preferred® Card and Chase Sapphire Reserve®
Terms apply.
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