You might be eligible to receive a portion of the $15 million settlement that Cash App is involved in.
Following a class action lawsuit regarding unlawful transactions on the platform, the app’s owner, Block, Inc., agreed to the sizable settlement. corporations are being forced to pay for failing to satisfy their customers in a trend of lawsuits against financial technology corporations over account management practices and consumer rights.
Customers of Cash App who were impacted are eligible to receive a portion of a $15 million settlement
Millions of users were impacted by many data breaches, and the claims against Cash App are specifically about unlawful account freezes and fraudulent charges.
Despite users’ severe privacy and security concerns, Cash App has become one of the most widely used peer-to-peer payment systems in the US during the past ten years.
The plaintiffs in the $15 million settlement are people whose accounts were frozen without cause or resolution, or who were affected by illegal behavior.
The objective is to compensate users for any financial losses, psychological distress, or reputational damage brought on by Cash App transaction errors or account security problems.
How much of the Cash App settlement will be given to claimants?
When the settlement money are distributed, claimants will get no more than $2,500. Anyone who wished to make a claim had to fill up and submit a claim form by November 18, 2024, which was the application deadline. On January 13, 2025, the last hearing for the lawsuit was held.
Account statements and other supporting data were required to demonstrate that claimants were impacted by account freezes or illegal activity.
Payments will be made by the end of 2025
After all claims have been evaluated and resolved, the settlement payments are anticipated to be made by the end of 2025.
In the interim, claimants can use the settlement website, cashappsecuritysettlement.com, to monitor the payment status of their Cash App class action lawsuit.
How can I be eligible for the class action settlement for Cash App?
Each and every claimant must be a permanent resident of the US. In order to be eligible for a payout in the Cash App/Block Inc. settlement, claimants must also fulfill one of the following requirements:
- Unauthorized access: This refers to users whose sensitive personal information, Cash App account data, and Cash App Investing account data were all accessed and shared without permission.
- Fraudulent transactions: These include illegal transfers and the unapproved withdrawal of money from users’ Cash App accounts that were reported by clients.
- User status: Those who have utilized any of Cash App’s services, including the investment services offered by its sibling companies, are eligible for this portion of the settlement.
- Problems with resolution: This is for users of financial accounts and Cash App subscribers who experienced trouble resolving account difficulties throughout the six-year period from August 23, 2018, to August 20, 2024.
Timeline and status of payments
On January 13, 2025, the court approved the final settlement. Although the precise date of the Cash App settlement payout has not been revealed, qualified claimants should anticipate receiving their money by check or direct deposit before the end of 2025. Meanwhile, claimants are able to:
- Verify your method of settlement: You should carefully consider the method you will use to get your settlement money. Waiting for a check to arrive in the mail will take longer than a direct deposit.
- Be patient: Before getting in touch with the settlement administrator, give yourself four to five working days for processing.
You can learn more about this settlement by going to the Cash App Security Settlement website. Additionally, you can learn about other class action settlements, including the Visa and Mastercard case, for which you might be eligible.
