FCTI $10 Million ATM Fee Settlement: Claims & Payout Info

If you were charged fees by your bank for balance inquiries at ATMs owned and operated by FCTI, Inc., located at 7-Eleven stores, you may be eligible to claim up to $27 from a class action settlement.

FCTI, Inc. has agreed to pay $10,000,000 to settle a class action lawsuit for alleged unfair business practices and false advertising. The lawsuit claims that FCTI improperly transmitted two balance inquiry requests to customers’ banks, resulting in double out-of-network ATM fees for a single balance inquiry transaction.

Who are the class members?

The class members are divided into two categories:

• New York Settlement Class Members:
• Individuals who were assessed more than one fee for a balance inquiry during a single visit to an FCTI ATM in New York from May 1, 2018, to November 16, 2021.
• This includes those who used a card issued by specific banks such as New York Community Bank, KeyBank, Webster Bank, M&T Bank, TD Bank, Community Bank of New York, Citizens Bank, NBT Bank, Bank of America, and Wells Fargo.

• Nationwide Settlement Class Members:
• Individuals who were assessed more than one fee for a balance inquiry during a single visit to an FCTI ATM in the United States from May 1, 2018, to November 16, 2021.

How much can class members get?

• New York Settlement Class Members: Automatically receive $27 if they received an Email Notice and/or Postcard Notice.
• Nationwide Settlement Class Members: Can submit a claim form to receive up to $15. If funds remain in the Net Settlement Fund after the initial distribution, the remainder will be distributed on a pro-rata basis.

How to claim an award

To claim an award, class members can file a claim online or download the PDF claim form.pdf) and mail it to the settlement administrator at:

FCTI Class Action Settlement

ATTN: CLAIM FORM

P.O Box 25228

Santa Ana, CA 92799

Claim instructions

1. Visit the settlement website to access the claim form.
2. Fill out the form with your personal information and details of the bank that assessed the fees.
3. Submit the form online or print and mail it to the address provided above.
4. Ensure that the form is submitted by the deadline of October 22, 2024.

Payment methods

Class members will receive their compensation via check mailed to their provided address.

Settlement fund breakdown

The settlement fund of $10,000,000 will cover:

• Payments to class members
• Attorneys’ fees and costs of $4,600,000
• Service awards to the plaintiffs

Important dates

• Deadline to File a Claim: October 22, 2024
• Opt-Out Deadline: November 20, 2024
• Final Approval Hearing: December 20, 2024

When is the FCTI Class Action Settlement payout date?

The court will hold a final approval hearing on December 20, 2024, to decide whether to approve the settlement. If approved, the settlement funds will be distributed to eligible class members.

Why was there a class action settlement?

The lawsuit was filed against FCTI for allegedly engaging in unfair business practices and false advertising by improperly transmitting two balance inquiry requests, leading to double fees. The settlement was reached to avoid ongoing litigation costs and trial.