The SunTrust Bank, which is also known as Truist Bank, has agreed to a settlement of $240 million to resolve a class action lawsuit that was filed against the bank for charging an illegal overdrafting fee on ATM and debit card transactions.
Here, we have shared everything you need to know about the $240M SunTrust overdraft fees settlement. Stay tuned to check if you are eligible to get a payout from it, how much you can expect to receive, how to file a claim form, what the deadline is to file a claim, and much more.
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$240M Sun Trust overdraft fee settlement
Back in 2010, a class action lawsuit was filed against the SunTrust Bank at the Georgia state court with allegations that the overdraft fees had violated Georgia usury (interest rate) laws, and then in 2017, the Supreme Court of Georgia ruled overdraft fees could potentially be treated as interest, and then the case proceedings started.
After 2017, appeals and procedural disputes continued, and settlement negotiations intensified. In late 2025, the bank agreed to a class action settlement of $240 million without accepting any wrongdoing to resolve the matter. The settlement has already received preliminary approval, and a hearing for final approval is scheduled for May 2026.
The claim form for the $240M SunTrust overdraft fees settlement is made public; individuals may file it online or offline to get a payout from the fund. The due date for filing the claim form isn’t yet confirmed, but it likely will be late August 2026. Note that the due date to opt out from the class members and object to the settlement is April 20, 2026.
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Who can file a claim form for the SunTrust overdraft fees settlement?
To file a claim form for the $240M SunTrust overdraft fees settlement, it is mandatory that you meet eligibility requirements:
- You were a Georgia resident, and you had a SunTrust checking account.
- You were charged at least one overdraft fee for an ATM or debit card transaction.
- The overdraft amount was $500 or less and occurred between July 12, 2006, and April 15, 2014.
- You paid the fee and did not already receive a refund, and
- You received a notice from the settlement administrator, which carries a unique ID and PIN.
How much will be received from the SunTrust overdraft fees settlement?
The fund of the SunTrust overdraft fees settlement is $240 million; it will be distributed among the class members after deducting the attorney fee and administration cost, which will be decided during the fairness hearing. It is likely that around 33% of the fund will go for attorney fees and administration costs.
It is expected that each class member will get a payout between $5 and $1,000. The amount you are going to receive from the $240M SunTrust overdraft fees class action settlement depends on the amount you were charged; if you were charged a big amount, you will get a big payout.
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How to file a claim form for the SunTrust overdraft fees settlement?
In order to file a claim form for the $240M SunTrust overdraft fees settlement, please go through the step-by-step instructions available below.
- Go to the official SunTrust overdraft fees settlement website.
- Click on the ‘File Claim’ option and get redirected to the next page.
- Enter your Unique ID and PIN, and then click on the Submit button.
- Fill in your personal information, address, and other details.
- Choose a payment gateway such as direct deposit, and provide details.
- Lastly, you have to review all details and click on the Submit button to file your claim.
When to expect the SunTrust overdraft fees settlement payout?
The payout from the $240 million SunTrust overdraft fees settlement will be received within 90 days of the claim form deadline. As the due date for the claim form is likely to be late August 2026, we can expect that the payout will be received probably by November 2026 or earlier.
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