Cash App Settlement 2024: The popular mobile payment service, Cash App has found itself in the spotlight due to a major legal settlement. The Cash App owned by Block Inc. has agreed to settle for $15 million due to its two data breaches. Therefore, If you have been a Cash App user since 2018, you may be eligible to receive some money by submitting a claim online.
The Cash App was founded by Jack Dorsey, and gained popularity on Reddit as a Robinhood alternative for trading stocks and Bitcoin. Recently, the mobile banking app was hit with a class action lawsuit for failing to protect its user’s personal details from various security data breaches that occurred in 2022 and 2023. If you are a Cash app user, you can read this article.
The Rise of Cash App
Cash App was developed by Block, Inc. (formerly Square, Inc.), and has rapidly gained popularity on Reddit as a payment platform in the United States. The Cash App was founded by Jack Dorsey and used as a Robinhood alternative for trading stocks and Bitcoin. The app is very easy to use and its features like instant transfers, cryptocurrency trading, buying bitcoins and stocks have made the Cash App a preferred choice among millions of users in America.
What are the Legal Challenges?
According to the class action lawsuit, Block and Cash App had failed to protect the personal details of its users from several security data breaches that occurred in 2022 and 2023. As per the investing reports, a former employee gained access to user’s financial data in 2021. In 2023, another security breach occurred by using recyled phone numbers linked to user’s accounts. Due to multiple data breaches, Cash App has found itself in the spotlight.
Who is Eligible to Receive a Cash App Setlement?
According to the settlement website, the Cash App payout will be received by users if they meet the following eligibility criteria.
- You must have been a Cash App user or Cash App investing since 2018.
- Your personal information was accessed without your authorization.
- There were unauthorized transactions from your account between 23rd August 2018 to 20th August 2024.
Cash App Settlement Important Dates
| Exclusion Deadline | 01st November 2024 |
| Objection Deadline | 01st November 2024 |
| Claim Deadline | 18th November 2024 |
| Final Approval Hearing | 16th December 2024 |
How Much Could You Receive?
The mobile banking app was accused of failing to protect its user’s personal details and agreed to settle for $15 million. If you fulfill the above said eligibility criteria, you will be able to claim for up to $2,500 due to data breaches. However, you must provide third-party documentation that links it to a data security incident or fraudulent with your Cash App
When Do I File a Claim?
If you are a victim of a Cash App unauthorized transactions, you can file a claim online. You have to be submitted the claim by 18th November 2024. You can also print off a claim form and mail it by November 1, 2024. If you don’t submit a claim, you won’t get a settlement.
Types of Claims Cash App Users Can File For?
According to Cash App, users can submit the following types of claims:
- Users can submit a claim, if their Cash App account was involved in the data breach.
- Users can also submit a claim for transaction losses or unauthorized transactions.
- Users can submit a claim for lost time up to 3 hours at a rate of $25 per hour for time spent during the data breach.
How to Submit Cash App Settlement Money Claim?
If you are a Cash App user, you can submit a claim on the official settlement website i.e. https://www.cashappsecuritysettlement.com/ till 18th November 2024. Depending on the claim types, users will receive compensation for pocket losses, time lost, and fraud charges.
When will the Settlement Amount be Paid Out?
As of the reports, no date yet listed on when will the settlement amount be paid out. The settlement website lists 16th December 2024 as the final approval hearing. If the settlement agreement is approved during the court hearing, payments will likely go out soon after.
Home page click on cwccincinnati.org
Leave a Reply