Your name could be in the running for a $15 million deal with Cash App. The app’s owner, Block, Inc., agreed to the huge payment after being sued by a group of people who said they were scammed by people who used the platform without permission. Financial technology companies are being sued over consumer rights and how they handle accounts. These companies are having to pay because they didn’t please their customers.
Cash App users who were affected will get a piece of a $15 million payment
Claims against Cash App are mostly about fraudulent charges and account freezes that were not done correctly. Several data breaches also harmed millions of people. Cash App has become one of the most famous peer-to-peer payment platforms in the US over the past 10 years, even though users are very worried about their security and privacy.
Claimants in the $15 million settlement are people whose lives were changed by illegal behaviour or whose accounts were frozen for no good reason or reason at all. The goal is to give Cash App users money back for any damage to their reputations, mental stress, or money lost because of mistakes in transactions or problems with account security.
How much will people who file a claim get in the Cash App settlement?
People who have a claim will get no more than $2,500 when the settlement funds are given out. The last day to apply was November 18, 2024. By that date, anyone who wanted to make a claim had to fill out and send in a claim form. The last court date for the case was January 13, 2025.
Account records and any other proof that the claimants’ accounts were frozen or that they were involved in illegal transactions had to be sent in.
The money will be sent out at the end of 2025
When all the claims have been looked at and decided, the settlement funds should be sent out around the end of 2025. On the website for the settlement, cashappsecuritysettlement.com, claimants can keep track of their Cash App class action case payment in the meantime.
What you need to do to get the Cash App class action settlement
Everyone who wants to make a claim must live in the United States permanently. To get a payout in the Cash App/Block Inc. deal, claimants must also meet one of the following requirements:
- This is for Cash App users whose data, including private personal information, were accessed and shared without their permission. It includes data from their Cash App Investing account as well.
- Fraudulent transactions: This includes taking money out of users’ Cash App accounts without permission and transferring money illegally, which was seen by customers.
- This part of the settlement is for people who have used any of Cash App’s services, even investing services from any of its sister companies.
- Account problems: This is for Cash App users and bank account users who had trouble fixing account problems between August 23, 2018, and August 20, 2024, a period of six years.
- When and how to make payments
- On January 13, 2025, the court gave its final approval to the deal. Claimants who are qualified will be paid by either direct deposit or check in the mail near the end of 2025. The exact date of the Cash App settlement payout has not been announced. For now, candidates can do the following:
Check how you’re going to settle: It is important to think carefully about how you will get your settlement money. It will be faster to have a direct payment than to wait for a check to arrive in the mail.
Do not rush: You should wait four to five business days for the paperwork to be processed before getting in touch with the payment administrator.