Bank of America plans to provide $2.25 million in refunds for payments made to ATMs located inside 7-Eleven stores.
Class action lawsuit he says that BofA charged its customers two out-of-network fees for outstanding inquiries when only one outstanding inquiry was made at in-store ATMs.
The 2019 lawsuit, which was filed in the US District Court for the Southern District of California, alleges that the second largest bank in the US by its total assets breached its contract with customers by overcharging them, saying that ATMs should charge customers a single fee for asking for balances.
Bank customers may be eligible for cash withdrawals if they use ATMs operated by FCTI, Inc. at 7-Eleven stores to check their account balances between May 1st, 2018 and November 16, 2021. The customers must also not have received money from the end of 2024 in the lawsuit filed against FCTI, Inc.
A decision seeking reinstatement must be made by July 29th. Investors will receive an equal share of the interest fund.
The court is expected to approve the decision on August 21.
According to the decision, Bank of America denies any wrongdoing and says it will settle the case to avoid “the burden, expense, risk and uncertainty of continuing litigation, and to resolve the case.”
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