How to Get $78 From Bank of America (BofA)
Article Submitted By: BankMan
If you were hit with an overdraft fee from Bank of America or any of its acquired banks between 2000 and 2007 you can make a little easy cash.
If you were hit with an overdraft fee from Bank of America or any of its predecessor banks between 2000 and 2007 you can make a little easy cash.
The bank recently settled a class-action lawsuit (Closson v Bank of America) that alleged that Bank of America and companies it acquired during that timeperiod (Fleet Bank, Lasalle Bank, and US Trust Company) changed the order in which deposits settled and engaged in other practices which caused customers to overdraw their accounts more frequently. The class action lawsuit was settled for $35 million and although Bank of America denied any wrongdoing it will pay up to $78 per account holder.
The amount to be paid out will depend on how many claims are filed although no one individual will receive more than $78. Thus if 35 million apply presumably the payout will be $1 (the value of the settlement divided by the number of claimants). If 423,000 people apply then the amount will be $78. The amount of money you receive does not depend on the number of overdraft fees you received during the period in question.
Eligibility to Receive Bank of America Payout.
Your eligible to receive the money if you had an overdraft fee that occurred during the timeperiods below for each financial institution:
- Your account was accessible through a debit card, check card, or any other bank card used for debit purchases; AND
- You paid at least one:
- insufficient funds fee, overdraft fee, returned item fee, or similar fee that was assessed to your account within five business days after a Bank of America debit card transaction either occurred or posted to your account; OR
- overlimit fee or similar fee that was assessed for an account cycle in which a Bank of America debit card transaction either occurred or posted to your account; AND
- The insufficient funds fee, overdraft fee, returned item fee, overlimit fee, or similar fee was paid between the following dates:
Bank From Through
Bank of America 12/6/2000 12/31/2007
Fleet 4/1/2004 12/31/2007
US Trust 7/1/2007 12/31/2007
LaSalle Bank 10/1/2007 12/31/2007
Deadline: The deadline to apply for a claim is May 1, 2009.
How to file:
You can file online or you can send in a claim form. This and other information is available on the settlement website. The application does not require you to list the dates of any overdraft fees, but rather to state the dates that you were a customer of the bank or one the acquired banks. You are required to swear under penalty of perjury that you did indeed receive an overdraft fee or some other qualifying fee during the timeperiod,
Comments
luz, February 02, 2012
when i received thestcard it said not further action was required and now I had to file what the ---k
uda, December 30, 2011
I just received a check for 98.16 on dec 22, 2011. I had filed the online claim back in 2009. The cehck is from Huntington bank. I wonder if it is legit.
RICK & MICHELE, December 24, 2011
** GOT OUR CHECKS TODAY 12/24... THANK YOU BofA & Mr. Cloosen & Merry Christmas to ALL !!!
Lori, December 23, 2011
I got my check for $98.16 on 12/22/11 . Has anyone cashed theirs? Is it legit ? Also i was reading on the website and the deadline to file was May 1, 2009
Sol, December 09, 2011
@ Richard I think the period to file may have passed. I also visited the site and saw an untrusted certificate message. It was working at one point.
Richard Saunders, December 08, 2011
tried to update my status on this and the wbe site for doing so doesn't exist. Believe that this was once again a scam.
Carina Arreola, October 09, 2009
This is the first time I hear about this case and I would have submitted a claim. Ironically I spoke to bank of america several times about the way they charged their overdraft fees. Arreola_carina@yahoo.com
Kenneth J. Newman, February 26, 2009
WHERE IS MY $78.00 REFUND FROM THE BANK OF AMERICA QAS PROMISED?? i HAVE SUPPLIED MY MAILING ADDRESS AS WELLAS MY ACCOUNT INFORMATION SHOUD A DIRECT DEPOSIT BE THE CHOSEN MEANS OF REPAYMENT TO ME !!! I EXPECT REUSLTS AS SOON AS POSSIBLE !! YOURS TRULEY, KENNETH J. NEWMAN 10110 PORTALE AVENUE ORLANDO, FLORIDA 32825 (407)658-8683 PLEASE GOVERN YOURSELVES ACCORDINGLY !!!!!
virginia ann gardner, February 11, 2009
hello,i filed a claim on this matter,and just trying to find out the status of that claim,can you please reply asap?
The OD fees will just go higher, February 01, 2009
If you can't balance your checkbook, then prepare to pay higher od fees because that is how BofA will pay for this.
