The Aseltine v. Bank of America settlement is a $21 million class action resolution over allegations that Bank of America charged a $15 fee on incoming wire transfers without disclosing it in the bank’s published fee schedules. Payments went out automatically to eligible class members starting in February 2025, with a second round of leftover funds beginning April 13, 2026. No claim form was required.1Claim Depot. Bank of America Settlement for Wire Transfer Fees2Bana Wire Transfer Fee Settlement. Frequently Asked Questions
Who Qualifies for a Payment
The settlement class covers U.S. holders of a Bank of America consumer checking or savings account that was opened on or before August 31, 2012, who were charged an incoming wire transfer fee that was not refunded between March 8, 2019, and August 31, 2023.2Bana Wire Transfer Fee Settlement. Frequently Asked Questions More than one million people fit that description.3Law360. Aseltine v. Bank of America Case Page
If you didn’t pay an incoming wire transfer fee during that window, or your account was opened after August 31, 2012, you are outside the class.
How Much You Get and How It Arrives
Payments are automatic. Current Bank of America customers received a credit directly to their account. Former customers were mailed a check.2Bana Wire Transfer Fee Settlement. Frequently Asked Questions
Individual amounts are small. Reported payouts ranged from about $0.18 to $9.00, depending on how many unrefunded wire transfer fees a person paid during the class period.4Top Class Actions. $21M Bank of America Wire Transfer Fee Class Action Settlement The math reflects a class of more than a million people, a $15 or $16 fee at issue per transfer, and deductions from the fund before distribution:
- $7 million in attorneys’ fees plus $27,035.81 in litigation costs to class counsel.5Bana Wire Transfer Fee Settlement. Final Approval Order
- A $5,000 service award to the named plaintiff, Aaron Aseltine.5Bana Wire Transfer Fee Settlement. Final Approval Order
- Settlement administration costs.
What remained was divided proportionally among class members based on the number of unrefunded fees each person paid. None of the money reverts to Bank of America. Uncashed checks are redistributed to class members who cashed their first payment, or, if that isn’t feasible, donated to a court-approved consumer protection organization.6ClassAction.org. Aseltine v. Bank of America Motion for Preliminary Approval
Staying in the class meant giving up the right to sue Bank of America separately over the same wire transfer fee claims.7Bana Wire Transfer Fee Settlement. Email Notice
When Payments Went Out
The court granted final approval on December 9, 2024.5Bana Wire Transfer Fee Settlement. Final Approval Order Kroll Settlement Administration LLC issued the first round of payments in February 2025. A second distribution of leftover funds began on April 13, 2026.1Claim Depot. Bank of America Settlement for Wire Transfer Fees
What the Lawsuit Claimed
Aaron Aseltine, a checking account holder in El Cerrito, California, said Bank of America charged him a $15 incoming wire transfer fee on October 18, 2022, with no advance notice.8ClassAction.org. Aseltine v. Bank of America Class Action Complaint The complaint argued that neither the bank’s Online Banking Agreement nor its Personal Schedule of Fees listed the charge, even though the bank told customers those documents contained an all-inclusive list of fees and ways to avoid them.9ClassAction.org. Bank of America Charges Secret Inbound Wire Transfer Fees, Class Action Says By leaving the fee off the fee charts, the suit argued, the bank effectively implied it did not exist.
Bank of America denied wrongdoing and said it complied with its accountholder contracts, but agreed to settle to avoid the cost and uncertainty of further litigation.2Bana Wire Transfer Fee Settlement. Frequently Asked Questions As of 2026, the bank’s fee schedule still lists a $15 incoming wire transfer fee.10Bank of America. Wire Transfers
How to Check on Your Payment
Kroll Settlement Administration LLC is the court-approved administrator. If you think you should have received a payment and didn’t, or you have a question about a check or account credit, you can reach the administrator by phone at (833) 522-3647 or by mail at:
Aaron Aseltine v. Bank of America, N.A.
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-539111Kroll Settlement Administration. Aseltine v. Bank of America Contact Page
You can also log in with your Class Member ID at banawiretransferfeesettlement.com to check payment status.11Kroll Settlement Administration. Aseltine v. Bank of America Contact Page