The Northern District Court of California has granted final approval for the Cash App Security settlement on 13 January 2025. The class members who have filed the claims for the settlement before the deadline of 18 November 2024 are now eagerly waiting for their payout.
According to the settlement agreement, the claimants can expect to receive the settlement payout within 180 days of the settlement’s final approval, that is, in mid-2025. The class members’ payout depends on their claim, such as out-of-pocket losses reimbursement, lost time, or transaction losses.
Class members can also check the Cash App payment status to know if their claim is accepted or not. The class members will receive the settlement payout from the $15 million settlement fund as compensation for the unauthorized access without customers’ permission in 2022 and 2023.
How to Check?
The Cash App settlement class members who have filed the claim for the settlement before 18 November 2024 can check their payment status after the final approval in the following ways:
- You can visit the official Cash App Security settlement website at https://cashappsecuritysettlement.com/ and chat with the Settlement administrator operator by clicking the Need Assistance tab. You can share your Claimant ID and ask about your payment status or claim status.
- You can call the settlement administrator to inquire about the payout at 1 866 615 9740 or email the administrator at [email protected] and ask about your claim and payout status.
How to fix the deficiency claim?
The Cash App settlement administrator will send the deficiency notice to the claimants if there is an issue with your claim. If you receive any such notice, it means there is some deficiency in your claim, such as missing information, incomplete documentation, etc.
So, any Cash App security settlement class members who receive such notice via email or mail should follow the steps below to fix the claim:
- You should visit the official Cash App Security settlement website mentioned above.
- Next, you should click the Fix Claim option given on the homepage.
- Next, you should enter the notice claim ID and confirmation code mentioned in the notice in the appropriate boxes.
- Once you submit all the details, all your claim information will appear on your screen, and you can correct the claim with the required information or documents to complete your claim.
Who can receive it?
The US citizen who meets the following eligibility requirements will be entitled to receive the Cash App Security settlement payout:
- If you are a former or current customer of the Cash App Investing/ Cash App or any of its affiliated, subsidiaries, parent company, and your personal information is leaked.
- Your Cash App/Cash App investing account was accessed without your authorization, or any fraudulent withdrawals or transfers of funds, or any error occurred in your Cash App account, or any financial account linked to the Cash App account that has caused monetary loss from 23 August 2018 to the notice date.
Payout Amount
The settlement fund of the cash app security class action is $15 million, and the settlement administrator will process the payout from this fund, but first, they will use the fund to cover the attorney’s fees & costs, administrative costs, and the service awards for the class representatives.
After the administrator covers the above expenses, the remaining funds will be used to compensate the class members. The payout amount can be different for each claimant as it depends on the claimant’s award they have claimed in the claim form and the documents submitted. Based on the settlement agreement, the class members can receive the following award through this settlement:
- Out-of-pocket losses Reimbursement: The class members can receive a payout up to $2,500 for the out-of-pocket loss reimbursement for all the losses they have suffered resolving the issues originating with the Cash App account or the Cash App Investing account between 23 August 2018 and 20 August 2024.
- Lost Time: The class members who have submitted the claim to receive the compensation for their loss time (up to 3 hours) they invested to resolve the Cash App issue can receive the payout up to $25 for each hour.
- Transaction Loss: The class members who have faced fraudulent transfer of funds or any other unauthorized transaction loss during the class period to a Cash App/ Cash Investing account or any financial account linked to the Cash App account can receive their lost transaction money.
Payment Method
The Cash App Security settlement class members would receive their claimant’s award through the payment method they have selected in the claim form. According to the settlement agreement, the administrator allows the following payment methods:
- Physical Check
- Venmo
- Zelle
- Virtual Prepaid Card emailed to you.
If your payment method information changes, please inform the administrator immediately to receive your payout once it is released to valid claimants. The class member should regularly check the settlement website to stay updated on the payment distribution.