A settlement has been reached involving Fifth Third Bank and its ATM fees.
In an email sent to account holders, Fifth Third said the settlement follows a class action lawsuit claiming the bank breached its contract with customers by charging ATM Fees for balance inquiries made at machines outside Fifth Third’s network.
Fifth Third maintains it did nothing wrong but plaintiffs and the defendant agreed to settle the suit to avoid the cost and uncertainty of litigation.
The settlement includes current and former account holders who were assessed one or more Non-Fifth Third ATM Fees for making a balance inquiry at an ATM outside of Fifth Third’s network, or were charged more than one Non-Fifth Third ATM Fee for undertaking a balance inquiry during the same ATM visit as a cash withdrawal or funds transfer between January 1, 2010 and October 31, 2018.
Fifth Third agreed to establish a cash settlement fund of $5.2 million from which Settlement Class Members will receive payments or credits on their accounts.