Subscribe

Get Started

Learn more about Credit Cards, Travel Programs, Deals, and more.

Start Here
Credit Cards
Bank Of AmericaBanks

(Payouts Happening) Bank of America $66 Million Class Action Settlement for Overdraft Fees

Mark Ostermann
Mark Ostermann

Enjoy MtM's content? Shop Amazon and we earn a commission!

Find all of the latest deals.
Shop now!
This post may contain affiliate links - Advertiser Disclosure. As an Amazon Associate, we earn from qualifying purchases.
Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Links in this post may provide us with a commission.

Bank of America Free FICO Score

Bank of America Overdraft Fees Class Action Settlement

Top Class Actions announced that Bank of America finally settled their overdraft fee class action for 66.6 million dollars. Approximately 5.9 million customers were affected by this practice and are entitled to reparations.

Related: How to navigate Bank Of America’s application rules.

Update 11/12/21: After YEARS we are finally seeing reports of payouts in the comments below. Sadly they are for amounts way smaller than the fees people were hit with. Most payouts won’t even cover the cost of a pizza unfortunately.

Who is Entitled

Anyone who was charged an Extended Overdrawn Balance Charge is entitled to this settlement according to the lawsuit.  Bank of America charged this fee if the $35 overdraft fee was not paid within a certain time frame. The Extended Overdrawn Balance Charge was claimed to be an extra fee for the same thing, nothing new was provided by the bank.

Bank of America has agreed that they will not charge an Extended Overdrawn Balance Charge for at least 5 years as a part of the settlement.

The following people are eligible:

  • If you had an account from 2/25/14 and 12/30/17
  • And were charged an Extended Overdrawn Balance Charge at least once

RELATED: See If You Are Eligible For Any Other Class Action Lawsuits

a grey text on a white background

Sponsored

How to Enter a Claim

There is no need to enter a claim.  If you were billed an Extended Overdrawn Balance Charge you are already entered into the settlement.  You will receive your settlement automatically unless you opt out.

The amount will depend on how many times you were charged the fee and the total number of people eligible.

If you have a BOA checking account the money will be deposited directly into your account.  If you no longer have a checking account you will be mailed a check.

The exclusion date is 4/20/2018

Here is a link to the settlement’s FAQ section.

Conclusion

If you were charged one of these fees then this settlement is a good thing.  I like the fact that you don’t need to submit a claim and that affect people are automatically enrolled.

These fees are big business for the banks and I am glad that they have been cracking down on them.  It is part of the reason I don’t feel bad taking their money when signing up for $2400 in checking account bonuses each year.

 

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

 Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now bonus_miles_full

Learn more about this card and its features!

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Mark Ostermann
Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

1210 COMMENTS

  2. I got a direct deposit for like $12 on Nov 1, 2021 from Farrell vs Banka. So I waited 3 whole years to get $12. Meanwhile all the attorneys will be taking vacations to Hawaii and buying new mansions. This is exactly the reason why I never join class action lawsuits and never will again. Total waste. Selfish f’ing attorneys.

    • Really?? that is not fear after you have been a part of the class action than got only $12. Not even enough for have a nice dinner.. I guess samething happen with me too
      …

      • The notification you received is for the Morris v. Bank of America lawsuit. That hearing will be take place January 18, 2022.

    • Know I have to believed on the people who have bad expressions about the *abogansters* because that’s what they are, look where companies broken rules and start to get the information, real bad because they don’t care poor people, $”&”‘+&”-(!:: The $$ is for the people who are affected on the bank and they take it putos rateros

  4. I know I don’t know why all these people are so worried about get pennies back. Do you all really have nothing better to do. I mean guys really you all have been going crazy over this for a very long time. Go find more important things to do. You are not getting anything back relax it’s only going to be a dollar something!!!!

  5. Why are you all worried about this refund? Per the video on YouTube, Rachel Treatt’s attorney is arguing that the attorney cost are too high and as it stands, the class members are only going to receive $1.70 each. Google “Farrell v Bank of America, YouTube” so you can see for yourselves. Be patient and let Ms. Treatt’s attorney do/earn his job.

    • I was wondering the same thing. I looked on Monday and Tues after the latest court date and the web link is broken. Unreal after 2 years, can’t even get an update now lol.

      • This is the new update
        UPDATE 3: The appeals to the Bank of America Overdraft Fees Class Action Settlement are still pending. Oral arguments took place on March 2, 2020. It is not known how quickly the Ninth Circuit Court of Appeals will issue a decision. It may take several more months. We appreciate your ongoing patience. Top Class Actions will continue to provide updates as we learn more.

    • I got to the website they are waiting to hear from the appellate court they had the hearing on March 2nd now they are waiting. Try the website again

  10. If you’re waiting for the lawyers and the judge to actually fight for you good luck. Because the lawyer’s are fighting for there’s no us and the delays that we are going through are done on purpose. Because the more this people delay this the better for them. not for us.so if you really want to get to bank of America starting January the first there is a new law that is going to make it possible to file a civil lawsuit against them. For selling your private information. For example. If you have chargers in your bank statement’s that you don’t have no idea of who they are I’m pretty sure bank of America sold your information. Like me I was enroll in to ABC mouse.and I didn’t even know about it until I was overdraft.bank of America never question it and they would use that to overdraft me until I call it to there attention. I also call ABC mouse. And talk to them.told them I was going to sued them they gave me everything that I needed to start a lawsuit against them for selling my private information to ABC mouse. And other entities. So far we have 1500 hundred signatures. From people that read what I was posting and found a way to connect with me. So we can actually shock the system from this corruption that is going between the lawyer’s and the judge. I also found out a whole lot of information about this judge. We are waiting for more information on the judge. The lawyer’s that you think are fighting for you. Wake up there not so if you want to actually do something for yourself I suggest you do your homework. And gather information. With this new law that going to start January the first you will be able to get this corrupt bank.and civil system. I also told you guys that this website is compromised. There is someone that is tapping in to website. To try to defraud us. they get our information. And send bogus checks to your house so you can go to your bank and cash it and buy them Walmart gift cards and send it to them. I know because that happened to me. Good thing I reported them to the FBI. They got everything that this people send me. So let’s unite like us been doing. I will keep updating. As I go I don’t want to give to much information. Not yet. I will give you guys the tools to do for yourself. Let’s not depend on fribulus lawyer’s and judge.

  11. This is the update I saw on the website:

    Update December 6, 2019:

    The Appeal Briefing is completed and the case is being considered for an upcoming oral argument in Pasadena in March of 2020. There will be an update to the website forthcoming after the next communication from the panel.

    • Seriously i want be positive and try to not be angry but this kind m.f. “GANSTERS” can use my rewards to get the bigers sex toy . this my crysmas gift

      • This abo”gansters” just ply whit us icant say what is my real opinion about them because they know the “law” so i hope they can read thi%#=÷×$#=%&_*/%:

  13. It is now December what are they doing This doesn’t make any sense for this case to Continue to be DRAGGING SO DAM kind it’s REALLY HORRIBLE The JUDGE is just as BAD He NEEDS To STEP UP FOR US WE’VE BEEN WAITING TO LONG IT’S NOT FAIR

    • It’s really ridiculous that they are dragging this out so long and the lawyers won’t answer when you call got a stupid receptionist that don’t know anything

      • Seriously?!? Calling the Receptionist stupid? Did it occur to you that maybe he/she genuinely has NO PERTINENT INFORMATION to share with you or anyone else for that matter? Listen…I get your frustration. I get that you want answers—so do the rest of us. But degrading an employee of the law firm because you didn’t have your needs met in the form of a correct and legitimate answer…is hitting below the belt. Shame on you. Spit on the so-called counsel representing us if you must, NOT the person that answers your call. You really need to atone for your atrocious behavior, especially in an open forum.

    • IT’S NOW NOV 23 AND NOTHING YET …IM WORDERING IF THEY ARE EVER GOING TO PAY OUT..I THOUGHT THEY SETTLED IN AUG.2019 ..I KNOW THE LAWYERS GET ONE THIRD ..SO THAT WOULD LEAVE SOMETHING FOR THE PEOPLE ..BUT WHERE IS IT AND WHEN YOU CALL ..ALL YOU GET IS A TELEPHONE MESSAGE…WHAT IS GOING ON..?????

  15. I believe we have to do a report on the news, probably they can help us because we are waiting for long time this it’s not right I do on channel 9 please someone have do the same

  18. Bank of America Overdraft Fees Class Action Settlement
    FOLLOW ARTICLE
    213
    By Top Class Actions
    October 31, 2019
    bank of america

    Bank of America has agreed to pay $4.95 million to resolve claims that they deceptively charged overdraft fees on one-time, non-recurring debit card transactions.

    The settlement will benefit consumers who had an account with Bank of America and paid overdraft fees on debit card transactions classified as recurring charges between Jan. 1, 2012 and April 6, 2017 made with certain merchants.

    Eligible merchants include Lyft, Grubhub, Gett, Eatstreet, PicMonkey, Neighborfavor, AMI Entertainment Network, Seamless, Doordash, Postmates, and Eat24.

    Plaintiffs filed their Bank of America overdraft fee class action in March 2019, claiming that they were wrongfully charged overdraft fees in violation of the company’s policies.

    Bank of America reportedly promises in its policies to not charge overdraft fees on non-recurring debit card charges. Despite these policies, the bank allegedly charged consumers overdraft fees on non-recurring charges by wrongfully classifying the charges as recurring.

    The charges were allegedly charged on Lyft, Grubhub, Gett, Eatstreet, PicMonkey, Neighborfavor, AMI Entertainment Network, Seamless, Doordash, Postmates, and Eat24 transactions despite these being non-recurring transactions.

    Bank of America has not admitted any wrongdoing but has agreed to settle the overdraft class action against them by paying $4.95 million.

    Choose USAA Insurance for Savings and Service
    Ad by USAA
    See More
    Under the settlement, Class Members will receive a set payment amount for each overdraft they were charged on eligible transactions. Class counsel estimates that Class Members will get $17.67 for each overdraft fee they were charged.

    No Claim Form is required to benefit from the Bank of America overdraft fee settlement. The deadline for exclusion and objection is Dec. 20, 2019. The final approval hearing for the settlement is scheduled for Jan. 29, 2020

  20. So yes the check came unannounced. All in all it was one of those scams, I was not expecting a check from anywhere you see. So it came certified mail straight to the door had to be signed for. Real check! 4,850….later on I get a text from this advertisement company that I barely remembered looking into, it was about advertising on your car for 500$$ a week. So I get the check they wanted me to deposit it and give all of it to the decal installers except for 500.00 which would have been my 1rst payment. So I start asking questions through text and try to call the number that was texting me they never answer, and long story short it was a scam to try to get to my bank account. Then other people told me they have heard of the same scam lots if times. I’ve never heard of this sort of scam before that. So yeah it was weird….

  21. What i s going on with this Case I’ve never seen anything like this before Come on now this doesn’t make any sense at all Give Everyone What They Are Entitled To Which Is CASH MONEY

  22. what’s up with the update the court should provide a date if its finalize alreadly…what she mean will how it progress that mean to say its not over for how may year this judger and class counsel attorneys are milking it…if the the class counsel lawyers looking for a county where they can prolong the case in their favor they called window shopping.

  26. This is the update on the website for those who haven’t seen it:

    Update September 17, 2019:

    The three objectors to the Settlement who filed notices of appeal have provided their opening briefs to the Court and Class Counsel provided their answer briefs on July 22, 2019. The optional reply brief was provided on September 11, 2019. The briefing is completed and we are awaiting the panel’s response to the briefing in order to decide how the case will progress.

    Please be patient and continue to refer back to this website for the latest updates.

  28. People, no one has received anything yet from this….it will be months before this is finalized. No one said it is final so just wait for update on BOA site. I’m figuring once it is final…about 4 to 6 weeks before payments are made….hope I’m wrong, but thats how thrse things usually go

  29. I’m confused as well about ‘the panel’ part of this latest update. Are they referring to the objectors? The Judge? Whom? More strangeness in a case that has grown more and more bizarre over so much time.

  31. Received my check. 89.95. Nothing written in dollar line. Doesn’t look cashable. Will try to cash of course. Is this a way to pay and yet not pay. Anybody else received a check like this.

  37. Yes madge is rude people have been posting monies they have received for a very long time now, that’s what this place is for….”feed back” whoever dont like it keep quiet or leave, bye!

    • I’m one of the 5 million bank of America customer and I will know W.F happened about the litigation , you know what? 3 years to the abogansters” take the from the bank another year to distribution started but F… Bank still charged for anything$35.00 it’s the reality pour life

  38. Madge
    You are rude. I did receive a 3.00 check. I researched it ND it was for an unfair fee not related to this issue. Grow up . Oh and your punctuation is poor.

    • You should check your punctuation and spelling before you criticize others, a period after every 2 or 3 words and also research before you post. Stop nit picking this is about the class action not English or grammar lessons.

    • Wow how could anyone get any money which the case is not finalized or approved yet.im hoping we dont have wait long as we been waiting for years.it a judge finally making of any payments.lol .hope this will be OVER Soon.

  44. Dang some of you people are just rude we are on here to able to discuss all of this, and give any updates to each other bounce questions off each other anything! If you dont want to be involved LEAVE! Nobody wants to hear your negativity

    • IF your speaking of me being rude. Forget that im only speaking the truth….if common sense is rude to you so be it…People saying they got checks when its not even over is useless information..and wasted space with nonsense..
      .so whatever

      END OF THIS CONVO

  46. I just received a check from BofA. It was 3.00. It came in a envelope with no attached reason. Very strange. Was this the pay back?