Claim Your Cash: How to Receive Up to $2,500 in Cash App Settlement

Cash App users may be able to claim up to $2,500 in a class action settlement related to data breaches.

Proposed Settlement

The payments app and its parent company Block recently agreed to a proposed $15 million settlement to resolve a lawsuit that pertained to unauthorized individuals accessing account data.

Eligibility and Requirements

However, the class action settlement only includes people who satisfy certain eligibility rules, and the requirements for qualifying are more cumbersome than those of some other recent class action cases like the 2023 Facebook privacy settlement.

What Happened

Cash App is best-known as a platform for peer-to-peer payments. The app also offers a debit card and investing services. The company continues to deny wrongdoing in the case, but acknowledges there was a “data security event” in December 2021.

Types of Data Exposed

According to the lawsuit, 8.2 million customers had their information exposed including names, brokerage account numbers and investing activity — including portfolio values.

How to Apply

Customers who were affected by the breach can qualify for compensation if they can show they suffered losses.

Compensation

The settlement provides compensation of up $2,500 for out-of-pocket losses and people who are eligible can submit a claim for up to three hours of lost time at a rate of $25 per hour.

Victims of transaction losses like unauthorized withdrawals can also submit claims to seek reimbursement for the amount lost.

The deadline to submit a claim is Nov. 18, 2024 and the final approval hearing is set for Dec. 16.