Claim $15 Million Cash App Settlement: The increasing acceptance of fintech solutions has led to the widespread use of peer-to-peer (P2P) payment applications, with Cash App emerging as a preferred choice among consumers. This application facilitates the swift transfer of funds between users via their mobile devices, enhancing the convenience of financial transactions.
Beyond its core mobile banking functionalities, Cash App also provides users with the ability to invest in stocks and crypto currencies, such as bit-coin, directly through its interface. Furthermore, the platform has introduced a feature known as Cash App Taxes, which allows users to file their tax returns seamlessly.
Cash App’s $15 Million Settlement – Claim Your Share
Earlier this year, Cash App Investing, along with its parent company Block Inc., agreed to a settlement of $15 million in response to allegations that they inadequately safeguarded user data, which resulted in significant breaches. The lawsuit brought attention to two particular incidents involving unauthorized access to account information, leading to numerous fraudulent charges that affected Cash App users.
As a result, both current and former users of this widely used online payment platform may qualify for compensation as part of the class-action settlement. Individuals who have utilized the Cash App service for money transfers within the past six years could be eligible for a payout of up to $2,500. The proposed settlement asserts that Cash App and Block did not exercise sufficient diligence to prevent unauthorized access to user accounts.
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Cash App settlement payments up to $2,500
The applicants in the lawsuit argue that Block and Cash App were negligent when a former Cash App Investing employee improperly accessed account information in 2022, and when an unauthorized person gained entry to certain Cash App accounts in 2023 by using recycled phone numbers linked to those accounts.
If you have utilized Cash App in the last six years and your personal information or account was accessed without your consent, or if you faced an unauthorized funds transfer, you might qualify for a payout of up to $2,500. Staying informed about the settlement details is crucial, as well as the upcoming Android features aimed at bolstering your device’s security.
Claim $15 Million Cash App Settlement Eligibility Criteria
The eligibility criteria for receiving a payout from the Cash App settlement are outlined on the settlement website. Individuals may submit a claim if they satisfy any of the following conditions during the period from August 23, 2018, to August 20, 2024:
- They are current or former users of Cash App or Cash App Investing whose personal information or account details were accessed or acquired without their consent;
- They experienced unauthorized or fraudulent withdrawals or transfers involving their accounts; or
- They encountered inadequacies in the resolution of errors related to their Cash App account or any associated financial accounts.
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Claim $15 Million Cash App Settlement Money
- Individuals eligible to participate in the proposed $15 million settlement may seek reimbursement for out-of-pocket expenses up to $2,500, as well as compensation for lost time at a rate of $25/hour for a maximum of three hours. Out-of-pocket expenses encompass various costs, including those related to credit monitoring services.
- Also claimants are permitted to submit claims for documented transaction losses, necessitating the provision of third-party documentation to substantiate their claims. The total amount available for distribution remains uncertain, as it will be contingent upon the number of claims submitted.
- Those affected by the data and security breaches are entitled to seek reimbursement for out-of-pocket losses, provided they can furnish appropriate third-party documentation to support their claims, as indicated on the settlement website.
- Cash App users are also eligible to file claims for transaction losses, which similarly require the submission of supporting documentation, such as a police report.
Process for submitting a claim and the associated deadlines
- To qualify for a payout, it is essential to submit your claim by November 18, 2024.
- This can be accomplished either through an online submission or by mailing a claim that is postmarked by the specified date.
- In cases where claims pertain to multiple Cash App accounts, it is advisable to consolidate all relevant information onto a single claim form.
- Customers can initiate the claim process on the designated website, where they will need to provide either a notice ID and confirmation code from a notification received via mail or email, or they may proceed to file a claim even if they have not received such a notification.
Other ways to follow
- Class members who wish to withdraw from the settlement have the opportunity to “opt out” prior to November 1, which enables them to initiate their own legal action or participate in a different lawsuit against the defendants in the future.
- Also individuals can express their objections to the settlement by submitting a written statement to the court before the same deadline.
- Class members may decide to take no action; however, this choice will result in the forfeiture of any potential payments and may also relinquish their right to file a separate lawsuit concerning claims included in the settlement.
The concluding approval hearing for the Cash App settlement is set to take place on December 16, 2024.
