Millions of Cash App users in the United States are now waiting for the finalization of a major class action settlement related to a data breach and fraudulent activity on the platform. This $15 million settlement aims to compensate users affected by unauthorized access to their personal data, fake transactions, and other cybersecurity issues that occurred between August 23, 2018, and August 20, 2024.
While the settlement is expected to be finalized by the end of 2025, the exact timing of payouts remains uncertain as it depends on several key steps such as appeals, claim verification, and administrative processing.
Cash App Settlement Overview
The Cash App settlement stems from a class action lawsuit that accused the platform of failing to properly secure users’ private data. After negotiations, Cash App agreed to a $15 million payout to affected users, covering a range of damages.
To qualify, users had to submit a valid claim form by November 18, 2024. Those who met this deadline may be eligible for compensation depending on the nature and extent of their losses.
Key Settlement Milestones
| Milestone | Date |
|---|---|
| Claim Submission Deadline | November 18, 2024 |
| Final Approval Hearing | January 13, 2025 |
| Estimated Payout Period Begins | Late 2025 (tentative) |
| Settlement Completion (Estimated) | End of 2025 |
Who Is Eligible for the Settlement?
The settlement covers Cash App users affected by various security issues during the designated claim period. Eligible users include:
- Individuals who suffered out-of-pocket losses due to fraudulent transactions or data breaches.
- Users who spent time resolving issues, such as contacting customer service or monitoring accounts.
- Claimants who experienced unauthorized transactions and provided documentation (e.g., police reports, incident notices).
Types of Compensation
- Out-of-Pocket Losses
Users can receive up to $2,500 for verified financial losses, provided they submitted proper documentation. - Lost Time Compensation
Claimants who spent time dealing with the aftermath of the breach may receive $25 per hour, up to three hours, totaling a maximum of $75. - Transaction Losses
Users who incurred unauthorized transaction losses and supported their claims with evidence are eligible for a portion of the remaining settlement funds.
How to Check Your Cash App Settlement Status
If you filed a claim, it’s important to monitor the progress and ensure your payout is on track. Here’s how to do it:
- Contact the Class Administrator
Phone: +1-866-615-9740
Website: [Refer to the official settlement site] - Have your details ready:
- Claimant Unique ID
- Confirmation Code
These identifiers will help the administrator locate your claim and provide updates on your payout status, any delays, and next steps.
Additionally, it’s a good idea to frequently check any communications from the settlement administrator, including your SSA (Settlement Status Account) updates or emails related to your claim.
What Could Delay the Payout?
Several factors may affect when you’ll receive your payment:
- Appeal Process: If any parties object to the settlement or its terms, this could delay the final approval.
- Verification of Claims: The administrator must confirm the legitimacy of submitted claims, particularly those involving financial loss.
- Administrative Processing: Once everything is approved, funds need to be distributed fairly based on validated claims.
So, while many are hoping to receive payments by late 2025, the exact timing will hinge on how quickly these steps are completed.
Cash App users affected by the breach should remain patient and informed. While the waiting game can be frustrating, the compensation offers meaningful relief for those who were harmed by the security lapse.
FAQs:
When will Cash App settlement payouts be made?
Payouts are expected to begin in late 2025, depending on the final approval hearing and resolution of appeals.
How much money can I get from the Cash App settlement?
Up to $2,500 for out-of-pocket losses, $75 for lost time, and an additional amount if you experienced unauthorized transaction losses with supporting documents.
What do I need to check my settlement claim?
Your Claimant Unique ID and Confirmation Code are required to track your claim status.
