The SunTrust Overdraft Fee Settlement covers Georgia residents who held accounts with the bank between July 12, 2006, and April 15, 2014, and experienced overdraft fees on ATM or debit card transactions. The settlement, which reached its maximum potential of $240 million following final court approval on May 26, 2026, is limited to overdrafts of $500 or less per transaction. If you had a SunTrust account during this period and were charged fees on small overages—say, a $45 overdraft charge when you swiped your debit card and came up short—you may qualify for compensation ranging from $5 to $1,000 depending on how many qualifying overdraft fees you paid. However, the settlement is not available to all SunTrust customers nationwide. Eligibility hinges on strict geographic requirements: you must have been a Georgia citizen as of July 12, 2010, and remained continuously domiciled in Georgia through October 6, 2017. Your account must also have remained open through at least June 1, 2010.
The “could reach” language in the settlement amount is deliberate—the actual payout depends on how many valid claims are filed. If thousands of former customers submit claims, individual payments shrink. If few do, payments potentially rise on a pro rata basis. The settlement stems from a 15-year class action lawsuit alleging that SunTrust’s overdraft fees functioned as hidden interest charges exceeding Georgia’s usury limits. The bank denies wrongdoing but agreed to settle. Claim forms began arriving by mail and email on July 14, 2026, and the absolute deadline to submit is September 14, 2026—a hard stop with no extensions.
Official resources:
- File your SunTrust overdraft settlement claim — Submit your claim form before the September 14, 2026 deadline to receive your share of the $240 million settlement.
- Check your eligibility and settlement details — Verify Georgia residency requirements, coverage dates (2006-2014), and expected payment ranges ($5-$1,000) before claiming.
Table of Contents
- WHAT OVERDRAFT FEES DOES THE SETTLEMENT ACTUALLY COVER?
- HOW IS THE $240 MILLION ACTUALLY DIVIDED AMONG CLASS MEMBERS?
- WHAT LEGAL THEORY DROVE THIS 15-YEAR SETTLEMENT?
- HOW DO YOU ACTUALLY FILE A CLAIM, AND WHAT DOCUMENTATION DO YOU NEED?
- WHAT COMMON MISTAKES COULD DISQUALIFY YOU FROM PAYMENT?
- HOW IS THE 7% INTEREST CALCULATED, AND DOES IT INCREASE YOUR PAYOUT?
- WHAT ARE THE ABSOLUTE DEADLINES YOU CANNOT MISS?
- Frequently Asked Questions
WHAT OVERDRAFT FEES DOES THE SETTLEMENT ACTUALLY COVER?
Not every overdraft fee SunTrust charged during the settlement period qualifies. The settlement covers only overdrafts of $500 or less per individual transaction on ATM withdrawals and debit card purchases. If you overdrafted by $800 on a single transaction, that fee is excluded. If you consistently overdrafted your account by $100 or $200 per transaction, those fees count.
The practical effect is that customers who experienced small, frequent overages—the everyday financial strain scenario where a $25 purchase triggers a $35 overdraft fee—are the intended beneficiaries. The time window is equally specific. Overdraft fees charged before July 12, 2006, or after April 15, 2014, are not eligible, even if you held your account outside those dates. This means if you had a SunTrust account that predates 2006 or that you kept open past 2014, only the fees charged during this narrow eight-year band qualify. Many former customers do not realize their own fee history may span multiple years—tracking which specific overdraft fees fall within the July 2006 to April 2014 window requires reviewing old statements.
HOW IS THE $240 MILLION ACTUALLY DIVIDED AMONG CLASS MEMBERS?
The settlement uses pro rata distribution, meaning your individual payout is calculated based on your share of the total qualifying overdraft fees paid by all class members. If the settlement ends up with 100,000 valid claims totaling $50 million in overdraft fees paid, and you personally paid $500 in overdraft fees, your pro rata share would be approximately 1% of the total $240 million—or roughly $2.4 million divided by the number of claims at your percentage level. Individual payments are capped at $1,000 per account and floored at $5.
The settlement also includes 7% simple interest accrued through December 31, 2025, added to the base overdraft fee amount before calculating payouts. This interest component increases the denominator slightly for all claimants but does not change the fundamental pro rata approach. A critical limitation: if you had multiple accounts at SunTrust, you receive one payment per qualifying account, not a combined payout. Someone with two eligible accounts might receive two separate checks if both accounts experienced qualifying overdraft fees during the settlement period.
WHAT LEGAL THEORY DROVE THIS 15-YEAR SETTLEMENT?
The lawsuit, *Bickerstaff v. SunTrust Bank*, was filed in Fulton County State Court in Georgia and alleged that SunTrust’s overdraft fees effectively operated as interest charges without complying with Georgia’s usury laws, which cap interest rates. The claim also included conversion—the theory that the bank wrongfully exercised control over customer funds by charging fees on insufficient transactions—and money had and received, a restitution theory. The case docket number is 10EV010485.
SunTrust’s defense was that overdraft fees were service charges, not interest, and therefore not subject to usury regulations. The bank maintained it did not violate any law but agreed to settle to avoid the expense and uncertainty of continued litigation. The settlement reached only after the case survived dismissal motions and years of discovery. The fact that SunTrust is now Truist Bank following a merger does not affect class member eligibility—Truist is obligated to fund the settlement for accounts held when it operated under the SunTrust name.
HOW DO YOU ACTUALLY FILE A CLAIM, AND WHAT DOCUMENTATION DO YOU NEED?
Claim forms were distributed starting July 14, 2026, to known class members via mail and email based on SunTrust’s account records. If you did not receive a claim form, you can download one from the official settlement website (suntrustoverdraftclassaction.com) or request one by calling 1-877-239-8765. The form asks for basic information: your full name, the account number(s) you held at SunTrust during the relevant period, and confirmation of your residency status as of the key dates.
You do not need to provide original receipts or bank statements—the settlement administrator has access to SunTrust’s records and will verify your account history and overdraft fees automatically. However, if you’ve moved since closing your account or changed your name, you should include documentation of that change (marriage certificate, divorce decree, or address verification). The claim form itself is straightforward and typically requires 10-15 minutes to complete. The hard deadline is September 14, 2026; forms postmarked after that date are rejected, and there are no exceptions for late-arriving mail or claimed non-receipt.
WHAT COMMON MISTAKES COULD DISQUALIFY YOU FROM PAYMENT?
The most frequent error is misunderstanding the residency requirement. You must have been a Georgia resident on July 12, 2010, even if you opened your SunTrust account years earlier in another state. You must also have remained a Georgia resident continuously through October 6, 2017, even if you closed your account much earlier. If you moved out of Georgia in 2016 to take a job in Florida, you are ineligible, despite having held a qualifying account for years.
The settlement administrator cross-checks residency against public records, so claiming false residency is both futile and potentially fraudulent. Another pitfall is filing a claim for an account that was closed before June 1, 2010. Even if you held the account during the July 2006 to April 2014 settlement period and experienced qualifying overdraft fees, an account closed on May 1, 2010, disqualifies you. This rule catches people who opened SunTrust accounts early in the settlement window but closed them within a few years. A third mistake is providing incomplete or illegible account information, which can delay verification or result in rejection if the administrator cannot match your data to SunTrust’s records.
HOW IS THE 7% INTEREST CALCULATED, AND DOES IT INCREASE YOUR PAYOUT?
The settlement includes 7% simple interest accrued on overdraft fees from the date each fee was charged through December 31, 2025. Simple interest, unlike compound interest, does not accrue on itself—it accrues only on the principal (the original fee amount). If you paid a $35 overdraft fee on January 15, 2010, the settlement calculator would add 7% annual simple interest on that $35 for the period from January 15, 2010, through December 31, 2025 (nearly 16 years), yielding roughly $39.20 in interest alone on that single fee. For customers with many overdraft fees spread across the settlement period, the accumulated interest can be substantial.
A customer with $2,000 in overdraft fees across multiple years might receive an additional $1,400 to $1,600 in interest depending on when those fees were assessed. However, the interest component does not change the $1,000 per-account cap. If your overdraft fees plus interest total $1,500, you receive the maximum $1,000, not $1,500. The interest calculation benefits those with fewer large fees more than those with many small fees; both scenarios may hit the cap equally.
WHAT ARE THE ABSOLUTE DEADLINES YOU CANNOT MISS?
September 14, 2026, is the final claim submission deadline. Claim forms must be postmarked by this date; electronically submitted forms must be received by 11:59 PM Eastern Time on that date. There are no exceptions. The deadline to opt out of the settlement or file an objection was April 20, 2026, and that date has already passed, meaning all class members are bound by the settlement terms whether they filed a claim or not.
The expected payout distribution is scheduled for approximately November 2026, assuming no significant appeals or legal complications. Once claim forms are reviewed and verified, the settlement administrator will cut checks to eligible claimants. Payments will be sent to the address provided on the claim form. If you move after filing, the check may be returned as undeliverable—the administrator will attempt one redelivery, but unclaimed checks may be subject to escheat (forfeiture to the state) after a statutory holding period. Keep your address updated with the settlement administrator through the contact phone line, 1-877-239-8765, if your circumstances change before payment arrives.
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Frequently Asked Questions
Can I file a claim if I no longer have my old SunTrust account statements?
Yes. The settlement administrator has access to SunTrust’s account records and will verify your overdraft fees directly. You do not need to provide original statements.
If I had multiple SunTrust accounts, do I get one payment or multiple?
You receive one payment per eligible account. If two of your accounts had qualifying overdraft fees during the settlement period, you can file claims for both and receive two separate payments, each capped at $1,000.
What if I moved out of Georgia before the October 6, 2017 residency cutoff?
You are ineligible. The settlement requires continuous Georgia residency through October 6, 2017. Moving out of state at any point before that date disqualifies you, regardless of when you opened your account.
Is there any way to file a claim after September 14, 2026?
No. The September 14, 2026 deadline is absolute and applies to all claims. Late submissions are rejected with no exceptions.
How long after I file a claim will I receive payment?
The settlement administrator expects to begin distributions in approximately November 2026, several weeks after the claim deadline. Payments are typically processed and mailed within 30 to 60 days of approval.
If SunTrust is now Truist Bank, does that affect my claim?
No. Truist is obligated to fund the settlement for all qualifying claims from the period when the bank operated as SunTrust. Your claim is unaffected by the corporate name change. —
Sources
- $240M SunTrust Overdraft Settlement — Claim by Sept 14 — OpenClassActions.com’s full settlement breakdown, with eligibility, payout tiers and filing steps.
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