Aseltine v BANA Class Settlement: Your Easy Guide for 2025

Hi! I’m Orland Howell. I write about lawsuit settlements. I’ve done this for four years. My job is to make hard topics easy. Today, I’ll tell you about the aseltine v bana class settlement. This guide uses simple words. It answers your questions. It helps you know what to do. Let’s start!

What Is the Aseltine v BANA Class Settlement?

The aseltine v bana class settlement is a big deal. It’s a $21 million deal. Bank of America, or BANA, made this deal. They charged people $15 for getting wire transfers. People didn’t know about this fee. This caused a lawsuit. The lawsuit is called Aaron Aseltine v. Bank of America, N.A. It has a number: 3:23-cv-00235. It happened in a North Carolina court. The court said yes to the deal on December 9, 2024.

This deal helps over 1 million BANA customers. If you paid this fee from March 8, 2019, to August 31, 2023, you might get money. You don’t need to fill out papers. The money comes to you if you qualify. I checked this on May 24, 2025. It’s the latest info!

Why Is This Important?

This settlement matters a lot. It helps many people. Over 1 million customers could get money. The fees weren’t fair. You don’t have to do much work. If you’re on the list, you get paid. This shows banks must tell you about fees. It keeps you safe as a customer.

Background of the Case

The Allegations

Aaron Aseltine filed the lawsuit because he said that Bank of America charged people a $15 fee for incoming wire transfers without telling them clearly. He said the bank didn’t explain the fee properly, so people didn’t know about it until it appeared on their account. He argued that this fee was unfair, and that’s why he took the bank to court.

Bank of America’s Response

Bank of America didn’t agree with the lawsuit at first. They said they told customers about the fee in their fee schedule and that it was normal for banks to charge such fees. But even though the bank didn’t agree with the lawsuit, they decided to settle the case to avoid a long and expensive trial.

Key Dates

Here are some important dates to remember about the case:

• March 2023: The lawsuit was filed.
• May 24, 2024: The court gave preliminary approval to the settlement.
• November 9, 2024: The last day to opt out of the settlement.
• December 9, 2024: The final approval of the settlement was given.
• January–February 2025: Payouts to eligible customers started.

If you paid the $15 incoming wire transfer fee during the period from March 8, 2019, to August 31, 2023, you may be eligible for some money from the settlement.

Who Can Get Money?

Not everyone gets money from the aseltine v bana class settlement. You need to fit certain rules. Let’s make it easy to understand.

Who Qualifies?

You can get money if:

• You live in the United States.
• You had a BANA checking or savings account.
• Your account started on or before August 31, 2012.
• You paid a $15 fee for a wire transfer.
• The fee was from March 8, 2019, to August 31, 2023.
• BANA didn’t give your money back.

If this is you, you might get paid. Even one fee counts.

How to Check If You’re In

Want to know if you qualify? Here’s what to do:

• If you still use BANA: Look at your bank papers. Check for a payment called “Aseltine v BANA Class Settlement.”
• If you left BANA: Check your mail. A check might come from Kroll Settlement Administration.
• Not sure? Call Kroll at (833) 522-3647.

These steps are easy. They help you find out fast.

How Much Money Will You Get?

The aseltine v bana class settlement has $21 million. Not all of it goes to customers. Let’s see how it works.

What’s in the $21 Million?

The money pays for:

• Money for customers like you.
• $7 million for the lawyers.
• A small gift for Aaron Aseltine, who started the lawsuit.
• Costs to send checks and run the deal.

After these costs, the rest is for people who paid fees. If you paid more fees, you get more money.

How Much Will You Get?

Your payment depends on how many fees you paid. Here are examples:

• Some got $2.29 to $9. They paid a few fees. This was on Top Class Actions.
• Others got $143.62 to $3,000. They had lots of wire transfers. People said this on Reddit and WorkingUS.com.

More fees mean a bigger check. It’s different for everyone.

How You Get Paid

How will the money come?

• If you have a BANA account: The money goes right into your account. It’s fast.
• If you don’t have a BANA account: You get a check in the mail. It comes to your address.

Checks take a bit longer. Keep an eye on your mailbox.

When Will You Get Paid?

The court said yes on December 9, 2024. Money started going out in January 2025. Most people will get it by February 2025. If you don’t see it, wait a few weeks. Then call Kroll.

How to Get Your Payment

Great news! You don’t need to send in forms. The aseltine v bana class settlement is easy. If you qualify, you get money automatically. But you must not have said no by November 9, 2024.

Steps to Make Sure You Get Paid

Want to be sure you get your money? Do these:

• Check your address. Make sure BANA or Kroll knows where you live.
• Look at your BANA account. See if there’s a payment called “Aseltine v BANA Class Settlement.”
• Check your mail. Former customers get a check from Kroll.
• Call Kroll if you need help. Their number is (833) 522-3647.

These steps keep you ready. You won’t miss out.

What If You Don’t Get Money?

Think you should get paid but didn’t? Don’t worry. Call Kroll Settlement Administration. Their address is P.O. Box 225391, New York, NY 10150-5391. Or use their phone number. They’ll check if you’re on the list.

What If You Said No to the Settlement?

Some people said no to the aseltine v bana class settlement. They had to say no by November 9, 2024. Let’s talk about what that means.

What Happens If You Said No?

If you said no:

• You can sue BANA yourself. You keep your right to go to court.
• You get no money from the $21 million.

Saying no means you don’t get a payment. You’re on your own.

How to Check If You Said No

Not sure if you said no? Ask Kroll Settlement Administration. Write to them at P.O. Box 225391, New York, NY 10150-5391. Or call (833) 522-3647. They’ll tell you if you’re in or out.

Why This Settlement Matters

Consumer Protection

This case highlights how important it is for banks to be honest and clear about their fees. If a bank charges a fee, they should make sure customers know about it in a clear and easy way. The settlement also shows that customers have the right to fight back if a bank is not transparent.

Broader Impact

This settlement could change the way banks disclose their fees. It could also help set a rule for other banks to follow, making it harder for them to charge hidden or unclear fees. Other banks, like Ally, Capital One, and Discover, do not charge incoming wire transfer fees, which makes this case even more important.

Comparison to Other Banks

Many people will now be more careful when choosing a bank, especially when it comes to fees. Some banks do not charge incoming wire transfer fees at all, which might make customers think twice before banking with places that do.

Frequently Asked Questions

You might have questions about the aseltine v bana class settlement. Here are answers to ones people ask a lot.

When Will I Get My Money?

You’ll get paid 45 to 60 days after December 9, 2024. That’s January or February 2025. Check your account or mail then.

How Do I Know If I Qualify?

Look at your BANA papers. Did you pay a $15 wire transfer fee from March 8, 2019, to August 31, 2023? Or call Kroll at (833) 522-3647.

What If I Don’t Have a BANA Account Anymore?

You’ll get a check in the mail. It comes from Kroll. Make sure they have your right address.

Can I Sue BANA?

You can sue only if you said no by November 9, 2024. If you didn’t say no, you’re in the settlement. You can’t sue.

Who Is Kroll Settlement Administration?

Kroll is the group giving out the money. The court chose them. They answer questions. Call them at (833) 522-3647.

Wrapping It Up

The aseltine v bana class settlement is great for BANA customers. It gives money back for unfair fees. You don’t need to do much. Just check your account or mail. This deal shows banks must be honest. It helps you and others.

Last updated: May 24, 2025, so you have the newest info.

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