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Some PNC Bank customers saw a little extra money in their accounts Friday thanks to a nearly two-year old class action settlement over improper overdraft fees that’s finally paying out. Former PNC Bank customers who no longer have an open account will likely receive checks from the PNC overdraft settlement within the next couple weeks.
The money is from a $90 million class action settlement reached in 2012 over claims that PNC reordered debit card transactions from highest to lowest dollar amount in order to rack up overdraft fees.
The class action settlement money is going to current and former customers who had a PNC consumer deposit account that was accessible with a PNC debit card between Jan. 1, 2004 and Aug. 15, 2010. Class Members had until Sept. 30, 2013 to file a claim.
The Settlement Administrator posted the following update to the PNC overdraft settlement website:
“If your PNC Bank account is open and you are eligible for a payment under the Settlement, you received an account credit on April 11, 2014.
“If your PNC Bank account has been closed and you are eligible for a payment under the Settlement, you will receive payment by check. Checks began mailing on April 11, 2014. Please be patient in waiting for your check to arrive.
“If you received a Check Stub with language regarding excluding yourself from the settlement, in order to exclude yourself, you must sign the Check Stub where indicated and mail it, along with the undeposited check, to PNC Overdraft Settlement, PO Box 3219, Portland, Oregon 97208-3219 by the date provided on the form.”
More information about the PNC Overdraft Class Action Settlement can be found at www.PNCBankOverdraftSettlement.com.
The case is In re Checking Account Overdraft Litigation, Case No. 09-md-02036, U.S. District Court, Southern District of Florida (Miami).
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7 thoughts onPNC Overdraft Class Action Settlement Refunds Go Out
I received a letter from PNC Bank Overdraft Settlement informing me that I have an unclaimed property and to confirm if I have received a check. I was to respond to the notice by October 6th, 2019 which I did so on September 10th 2019 and I have yet to receive the check or any other response since then. The letter did not provide a phone number or lawyer name and contact info in the event that we had questions or wanted to check the status of our check. So I’m not sure where to go from here. Any advise?
I received a letter from PNC Bank Overdraft Settlement. Portland OR For unclaimed money I filled out the letter September 4 2019. I have yet to received the check.
So this isnt a fraud thing? I received a check today from this settlement and im iffy about depositing it..
You are not supposed to contact PNC about the settlement, you are supposed to contact the lawyers who handled the case. The amount of the check is based on how many people entered into the lawsuit. After the lawyers cut and PNC current and previous customers who entered into the class action suit then it’s very possible to receive a check lower than the amount the company actually seized from you during the time of the fraudulant scheme. It happens all the time. Just have to suck it up and move on. I’m sure they stole more than $90 million across the country but that is the settlement and they’ve probably been doing it since way before 2004 and since statue of limitations ran out on those years prior, it’s nothing no one can do. Click the link and read the entire FAQ’s.
I’m insulted that they send me a check for less then one overdraft fee. My check doesn’t have Anything about excluding, it’s unacceptable that they STEAL hundreds, get caught & aren’t held responsible for returning stolen money!
Plus they ignored my emails, phone calls with no answers. What can a normal person like me, that works hard for the little money I make do against a company that has no values, or concern for those that they stole from. Close my account? I did that when I couldn’t figure out how they kept taking my checks every week for fee’s that they couldn’t explain, not like they missed me they continue to steal from people for years after I left. This is horrible, now wonder people use shoeboxes instead,
PNC Overdraft Class Action.With PNC sence 2006 202-248-1948
Would including myself in this Class Action against PNC, render me more than what the bank is currently offering for a settlement?
Ray.