If you’ve sent or received money with the Cash App mobile payment service in the last six years, you may be eligible for a $2,500 cash settlement payout. A proposed class action lawsuit settlement for $15 million claims Cash App and its parent company, Block, failed to take proper care to prevent unauthorized access to user accounts.
Plaintiffs in the lawsuit allege that Block and Cash App were negligent when a former Cash App Investing employee accessed account data without permission in 2022 and when an unauthorized user accessed certain Cash App accounts in 2023, using recycled phone numbers that were linked to the accounts.
If you experienced an unauthorized transfer of funds or your Cash App personal information or account was accessed without your consent, you may be eligible to claim a payout of up to $2,500. Here’s what to know about the settlement and how to submit a claim form online or through the mail and what we know about the payout date. For more, here’s how to secure your Cash App personal and finance information and what we know about the National Public Data breach.
Who is eligible for a payout in 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.
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.
How do I submit a claim form and what are the filing deadlines?
If you are eligible for a Cash App payout, you need to submit a claim form 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
Note: An older version of the form you could mail listed Oct. 15, 2024, as the submission deadline. The new form shows Nov. 18, 2024. In an email, the settlement administrator told CNET, “To air on the side of caution, please follow the October 15th, 2024 deadline. It is possible that the deadlines were changed recently.”
When is the Cash App payout date?
A final approval hearing for the Cash App settlement is scheduled for Dec. 16, 2024. If approved, payments would go out after that date.
For more, here’s the best identity theft monitoring services and our favorite password manager.
Source: CNET
