Did you use a Bank of America card at 7-Eleven? Will you receive money on demand
Bank of America customers could receive money for 7-Eleven ATM charges. We tell you who qualifies and how to claim payment
Thousands of Bank of America customers could receive money in the United States due to a new class-action lawsuit related to charges made at ATMs inside from 7-Eleven stores. The agreement would benefit both current users and former customers of the bank who paid commissions that are now questioned in justice.
The lawsuit accuses Bank of America of charging undue fees to debit card users when they made balance inquiries at certain ATMs operated inside 7-Eleven stores. Depending on the case, some customers ended up paying more than one fee for a single balance inquiry at ATMs belonging to the FCTI company.
The financial agreement reaches $2.25 million dollars, although the bank did not admit having committed irregularities. Even so, it agreed to resolve the case through payments to the affected consumers.
To qualify, individuals must have conducted transactions between May 1,2018 and November 16,2021. In addition, who If they already participated and received money in the previous class-action lawsuit known as Weiss v. FCTI, they will not be able to be part of this new agreement.
Who can receive money?
There are two groups of people included in this legal settlement: the first, corresponds to customers who still have an active account at Bank of America; the second, includes former users who closed their account after having received the disputed charges.
Existing clients won't have to go through procedures to get the money. If the settlement receives final approval by the court, the case administrator will automatically send the appropriate payments.
Instead, former customers will need to complete a claim form to receive money. The request can be submitted online or by regular mail, but must be submitted by July 29.
Many of the eligible former customers have already begun to receive notices by email or physical letters informing them of their possible participation in the settlement.
Why did the lawsuit start?
The legal dispute revolves around alleged duplicated charges related to balance inquiries at ATMs outside the banking network of Bank of America. The plaintiffs maintain that these fees violated the deposit account contract signed between the bank and its customers.
According to the lawsuit, a single balance inquiry generated more than one charge at some ATMs located inside 7-Eleven stores, something that affected consumers for several years.
Although it has not been informed how much money each person will receive, all approved members of the lawsuit will be entitled to a cash payment from the settlement fund.
Important dates that you should know
Those who want to exclude from the agreement or file objections must do so before July 7. Thereafter, the tribe nal will hold an impartiality hearing on 21 August, where it will review whether the agreement will be finally approved.
Payments will not be sent immediately. The settlement administrator explained that the money will begin to be distributed once the court grants final approval and possible appeals are resolved.