Bank of America customers to get ATM fee settlement payment
3 min readPaying money to get your own money out of an ATM or even to check your balance can be really frustrating.
Bank fees may look small on paper, but they can quickly add up, especially at ATMs. The average total cost of using an out-of-network ATM hit a record $4.86 in 2025, up from $4.77 a year earlier, according to Bankrate data.
The total includes an average $3.22 surcharge from the ATM operator and an average $1.65 fee from the customer’s own bank. Basically, you are paying fees to use another bank’s ATM and also paying your own bank for not using its ATM, yes, this can be frustratingly expensive.
Now, some Bank of America customers may be eligible for money from a new class action settlement tied to ATM balance inquiry fees.
No, it doesn’t mean you no longer have to pay those ATM fees anymore, but under the settlement, you might be eligible for a payment.
Bank of America settles in ATM fee lawsuit
A $2.25 million settlement has been reached in Schertzer, et al. v. Bank of America, N.A., a class action lawsuit filed in the U.S. District Court for the Southern District of California.
The lawsuit alleged that Bank of America charged customers two out-of-network fees for balance inquiries, even though only one was made at FCTI-owned ATMs located in 7-Eleven stores.
Bank of America denies that the fee assessment of two OON (out-of-network) balance inquiry fees is improper or that it has done anything wrong. The court has also not decided which side is right, but accepted BofA’s proposal to settle to avoid further litigation.
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Out-of-network ATMs are machines owned or operated outside a customer’s bank network. When customers use them to withdraw cash or check a balance, they may be charged a fee by the ATM operator and another fee by their own bank.
The settlement, filed in 2019, covers Bank of America accountholders in the US who were charged more than one out-of-network balance inquiry fee during the same visit to an FCTO-owned ATM at a 7-Eleven store between May 1, 2018, and November 16, 2021.
Customers who made a valid claim and received payment in a related case, Weiss v FCTI, Inc., are not included in this settlement.
Eligible class members will receive an equal share of the net settlement fund. That means the final payment amount will depend on how many current accoutnholders quality and how many former account holders submit valid claims.
Bank of America’s stock is down 5% year to date.
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Some customers must file a claim
The most important detail is that not every customer has to file a claim or follow similar steps.
Current Bank of America accountholders who received an email or postcard notice do not need to file a claim.
If the court approves the settlement during the final case hearing onAugust 21, 2026, they will automatically receive an equal share of the net settlement fund.
Former BofA account holders must file a claim to receive money. Claims can be filed online through the official settlement website or by mail, and the deadline is June 29, 2026.
Customers who want to exclude themselves or object to the settlement must do so by July 7, 2026.
Payments will be made only if the court gives final approval and after any appeals are resolved.
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