Citizens Bank Overdraft Fee Settlement

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Citizens Bank LogoCitizens Bank is the latest bank to reach a settlement for overdraft fees, a wave of settlements that started sometime last year. The Bank of America settlement and Fifth Third Bank settlement had previously been covered here. Citizens Bank, along with many other banks, was accused of reordering customers’ transactions in order to maximize overdraft fee revenue, a common tactic used a few years ago in order to increase fee revenue. Citizens Bank is the 13th bank to reach a settlement.

Citizens Bank will pay $137.5 million to settle the lawsuit (In re Checking Account Overdraft Litigation, case number 09-cv-02036 in Miami). I’ll update with settlement details, how you can get your fair share of the settlement, and website information as soon as the settlement is approved and those details are made clear. Right now, the settlement hasn’t been approved so there’s really no point is reviewing the details because they could change at a later date.

If it’s anything like the Bank of American settlement, it’ll take several months before the settlement is approved and even longer to figure out how much each person gets. At this point, the only thing to do is wait (and decide if you want to opt out). In the case of Bank of America, payments and account credits were automatically issued from the settlement fund after Court-approved disbursements were remove, for laywers and the like. Citizens is a much smaller bank but the settlement fund is smaller too, $137.5 million for Citizens versus $410 million in the BoA fund.

{ 99 comments, please add your thoughts now! }

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99 Responses to “Citizens Bank Overdraft Fee Settlement”

  1. nelly says:

    what is the purpose of these cards being sent out and people go to the web site and its bull shit. I think this is another scam.

    • gary says:

      I think it’s BS myself, I believe that if you had an account with them and it was a charge off, for whatever circumstances, if you cash the check it will re enstate the charge off because you have now re-affiliated yourself with them, I truly do believe this is part of a scam created by a collector

  2. FranktheTank says:

    True we will not get alot of money per claim, but those bastards will get hit hard, not hard enough, but it will hurt their bottom line. I got hit to the tune of about $375/yr. and it caused much grief and many arguments in our home. Thank you chase bank, should have switched a long time ago.I reccomend chase to everyone i can, so PLEASE!!! never get like these guys.

  3. Theyrobbed Me says:

    What a joke… Switch banks

  4. Anna Clarke says:

    Leave it to another bank to screw over its customers anyway that it can. I am glad that they got what is coming to them Citizens has always had shady practices and do things on the sly without letting people know. Suck it up and do the right thing for a change for the customers that used your services!

  5. elroy honore says:

    the powers that be is in bed with the bankers

  6. laurie says:

    i paid thousands in over draft fees

  7. melinda says:

    what a joke i will let everybody know just how b of a riped or raped i got

  8. carol green says:

    i would like to know more about this lawsuit without hiring an attorney. thankyou

  9. Ron gounder says:

    I called that number from my card I was sent in the mail.never received anything in the mail after a month. Am I automatically involved with this or is there something I am supposed to do?

    • Anonymous says:

      it depends if your automatic for me I live in Ohio and the last time I had an account with Charter One was back in 2009 but I did a lot of fees during the eight years I was with them anyways when I called the number on back of the card I spoke to the person on the phone gave them my name they said they had my information and I was set up for either an automatic deposit or a check I get a check because I don’t back with them anymore in short just call and give him your info tell tell you what needs to be done if anything

  10. Wilhelmina Russell says:

    I like everyone else have been Riped off by Charter ONe with overdraft fees, I also called the number on the card, I was told I should get a claim form in the mail, Never Got One, not sure what is going on with these banks, I would like to know when the Claim Form will come out. What do I do? This is so bad to do people like this, you work so hard for your money and the Bank takes it away,I see why some people loose it, because you work too keep what you have. What a Shame, what a way to run a Banking Business, why do we need Banks to get Riped off.

  11. Anonymous says:

    Mar , im glad that justice was sered , they got this stuff on my credit report because i refused to pay them because it was their fault,,,so good for us maybe we can get our money back.

  12. sheree says:

    I am so glad we have a lawsuit. This was happening every other week to me. I argued with them all the time. I would tell them they had a legal right to still cause they would tell me I signed the contract. I was so behind in my bills because of this and never fully recovered. Thank God they were stopped because all I would say to them is they had a legal right to steal cause they stold a lot of my money a hell of alot

  13. paul nap says:

    Does anyone know what happened at the Citizens final settlement hearing on March 7,2013 at the United States District Court for Southern District of Florida?This was supposed to be the hearing where they were supposed to finalize the 137million dollar payout they agreed on.

  14. maggie says:

    I agree Charter was a bank robber. M y husband close his account because he was so overdrafted,and even after that they let direct debits came in for 4 months he was so overdrafted he end up paying more than a $1000 in fees. They are Bank’s Robbers. And they should be made too refund ours money before we all die. That a nother trick they use, “let take 6 months to refunds the people , maybe the older ones will die and we still win” they took lest that 30 seconds to charge you the fees.

  15. marsha says:

    The 137Million dollar settlement is in. How bout sending the money. I call everyday so maybe they’ll get tired of me and send mine!

  16. marsha says:


  17. Theyrobbed Me says:

    still nothing !!! does anyone know the status ?

  18. BH says:

    They are still doing it. They post a debit transaction one day then they will repost it the next day after other items were posted causing more overdraft fee’s. I guess they want to be sued again.

  19. gary says:

    where are the checks?????

  20. Theyrobbed Me says:


  21. Theyrobbed Me says:

    What day in September??? The web site now saysAwards will be given in Sept.2013…”MAYBE” they are holding he money and collecting the interest

  22. katzb says:

    when I receive my card I called the number on back gave them my name they told me they had my info and that I was set up for direct deposit or check direct deposit if you still have an account with them or a check if you do not I haven’t had an active account with them since 08 09 I paid a lot of fees I’m really curious how much I get back

  23. Theyrobbed Me says:

    Today is 09/19/2013 and is the day of the payout… Anyone get their’s yet?

  24. JybJbb says:

    I got mine today…2 credits one for $178 and one for $ a joke, but hey I guess it is better than nothing.

  25. stealbeingtakin says:


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