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A major player in online payment systems, Cash App as of June has 57 million active accounts. A class action legal settlement that is closing soon, however, could result in a big payout back to some of those users, possibly up to $2,500 for each impacted customer.
The class action lawsuit alleges Cash App and its parent company Block were negligent when a former Cash App Investing employee accessed account data in 2022 without authorization and when another user accessed certain Cash App accounts in 2023, using recycled phone numbers that were linked to the accounts.
If you’ve used Cash App in the past six years and have experienced a transfer of unauthorized funds, or if your Cash App personal information or account was accessed without your consent, you could be eligible to file a claim. But you need to act soon.
Here’s what to know about the Cash App settlement, including how to submit a claim, what we know about the expected payout dates and when you need to file a claim. For more, here’s how to secure your Cash App personal and finance information and everything we know about the National Public Data breach.
Who’s eligible to claim part of the Cash App settlement?
You are eligible to submit a claim if you meet any of the following criteria from Aug. 23, 2018, through Aug. 20, 2024, according to the settlement site:
- You are a current or former customer of Cash App or Cash App Investing and your personal information, your Cash App account or your Cash App Investing account was accessed or obtained without your authorization.
- You had unauthorized or fraudulent withdrawals or transfers of funds to or from your account.
- You had a deficiency in the resolution of an error in a Cash App account or any linked financial account.
What is my deadline to submit a Cash App settlement claim?
If you are eligible for a Cash App payout, you need to submit a claim form soon, by 10:59:59 p.m. PT on Nov. 18, 2024.
That means submitting your claim online or mailing it postmarked by that date.
If you have claims relating to multiple Cash App accounts, list all of your information about your claims on a single claim form.
Here’s the address if you are submitting by mail:
Cash App Settlement
Attn: Claim Form Submissions
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
The deadline to exclude yourself from the settlement or object to the settlement was Nov. 1, 2024.
How much money could I receive in the Cash App settlement?
You could claim up to $2,500 per person for out-of-pocket losses and $25 per hour for reimbursement of lost time up to 3 hours if you’re eligible to take part in the $15 million proposed settlement. Out-of-pocket losses include costs associated with credit monitoring.
You can also submit a claim for documented transaction losses. To claim an out-of-pocket loss or a transaction loss, you need to provide third-party documentation.
When is the Cash App payout date?
A final approval hearing for the Cash App settlement is scheduled for Dec. 16, 2024, at 9:30 a.m. PT. If approved, payments would go out after that date.
For more, here’s the best identity theft monitoring services and our favorite password manager.
