Your Complete Guide to the Cash App $15 Million Settlement.
Your Guide to the Cash App $15 Million Settlement: Claim Up to $2,500
If you've used Cash App in the past six years, you may be eligible to claim up to $2,500 as part of a recent legal settlement. Cash App, which boasts over 56 million monthly active users according to its Q4 2024 shareholder letter, is facing a class action lawsuit that could lead to significant compensation for affected users.
What Led to the Cash App Settlement?
The class action lawsuit alleges that Cash App and its parent company, Block, were negligent after a former employee of Cash App Investing unlawfully accessed account information in 2022. Additionally, in 2023, another individual reportedly accessed specific Cash App accounts using recycled phone numbers linked to those accounts.
Who Is Eligible to Claim?
If you have used Cash App within the last six years and experienced any of the following, you may qualify to submit a claim:
- Your personal information, Cash App account, or Cash App Investing account was accessed or obtained without your authorization.
- You experienced unauthorized or fraudulent withdrawals or transfers from your account.
- There was a failure to resolve an error in your Cash App account or any linked financial account.
What Compensation Can You Expect?
Eligible individuals can claim:
- Up to $2,500 for out-of-pocket expenses, including costs related to credit monitoring.
- $25 per hour for lost time, capped at 3 hours.
- You can also file claims for any documented transaction losses. Remember, third-party documentation is necessary for both out-of-pocket losses and transaction losses.
How to File a Claim
To file for a Cash App settlement payout, complete and submit your claim form by 10:59:59 p.m. PT on November 18, 2024. Claims can be submitted online or by mailing a claim form postmarked by this date. If you have claims for multiple Cash App accounts, consolidate all relevant information onto a single claim form.
Mail your claim to:
Cash App Settlement
Attn: Claim Form Submissions
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
You have until November 1, 2024, to opt out of the settlement or raise any objections. Please note that the deadline for submissions was recently updated to November 18, 2024. An earlier version of the form indicated October 15, 2024. To be safe, it's advised to adhere to the earlier deadline.
When Will Payouts Be Distributed?
A final approval hearing for the Cash App settlement is scheduled for December 16, 2024, at 9:30 a.m. PT. If approved, payments will be distributed shortly after this date.
Conclusion
This guide provides essential information on how to navigate the Cash App $15 million settlement. Make sure to check your eligibility and submit your claim on time to secure your compensation!
Cash App is a financial services platform, not a bank. Banking services are provided by Cash App’s partner banks. Prepaid debit cards are issued by Sutton Bank, Member FDIC.
Launched by Block, Inc. in 2013, Cash App is available in the U.S. and offers a variety of services, including:
- Sending and receiving money
- A savings account
- A debit card
- Investing in stocks or bitcoin
- Personal loans
- Tax filing
As of 2024, Cash App has 57 million monthly users and generates $14.7 billion in annual revenue.
Related: Ubisoft Sued: Class Action Over Alleged Customer Data Sharing with Meta
