What you need to know about Cash App data security settlement?

If you’ve used Cash App in the past six years and experienced unauthorized access or transfers, you could be eligible for Cash App data security settlement of up to $2,500 as part of a major legal settlement.

The class action lawsuit that led to the Cash App data security settlement alleges that Cash App and its parent company Block were negligent when a former employee accessed unauthorized account data and when another user accessed certain Cash App accounts using recycled phone numbers.

How to submit Cash App data security settlement

Before we explain how to submit Cash App data security settlement, let us first go through the legibility criteria for the settlement.

To be eligible to submit a claim at Cash App data security settlement, you must have been a current or former customer of Cash App or Cash App Investing between August 23, 2018, and August 20, 2024.

Cash App users who experienced unauthorized access or transfers in the past six years may be eligible for a settlement of up to $2,500 (Image credit)

If your personal information, account, or linked financial account was accessed without your authorization, or if you experienced unauthorized or fraudulent withdrawals or transfers, you may be entitled to claim part of the $15 million proposed settlement.

Here’s what you need to know about the Cash App data security settlement:

Payout amount

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.

A simple guide to Cash App lawsuit claim process

Out-of-pocket losses include costs associated with credit monitoring, and you’ll need to provide third-party documentation to claim an out-of-pocket loss or a transaction loss.

How to submit a claim

To claim Cash App data security settlement, you must fill out the official claim form by November 18, 2024 (postmarked by that date if mailing).

If you have claims relating to multiple Cash App accounts, list all relevant information on a single claim form.

Here’s the address for mailing your claim:

Cash App Settlement

Attn: Claim Form Submissions

1650 Arch Street, Suite 2210

Philadelphia, PA 19103

Cash App data security settlement deadlines

A final approval hearing for the settlement is scheduled for December 16, 2024. If approved, payments would go out after that date.

Important dates for Cash App data security settlement are:

• Claim deadline: November 18, 2024
• Exclusion deadline: November 1, 2024
• Objection deadline: November 1, 2024
• Final approval hearing: December 16, 2024 at 9:30 AM PST

In light of the Cash App data breach, it’s crucial to take steps to protect your personal and financial information. This includes regularly monitoring your accounts, using strong passwords, and avoiding suspicious links or emails.

The Cash App data breach underscores the importance of data security and the potential consequences of breaches.

If you’re an affected user, understanding the settlement details and taking action is essential.

Featured image credit: Cash App