Yes, there is a Cash App settlement with some payments up to $2,500

Cash App is a smartphone app that allows people to connect their bank accounts and transfer and receive money. The app also includes features for customers to invest in the stock market. Cash App is owned by Block, Inc. 

Google Trends show an increase in people searching for a Cash App settlement. A viral social media post also claims that anyone who was a Cash App customer in 2018 could be eligible for up to $2,500 as part of the settlement.

THE QUESTION

Is there a Cash App settlement with payments up to $2,500?

THE SOURCES

THE ANSWER

Yes, there is a Cash App settlement with payments up to $2,500.

WHAT WE FOUND

There is a $15 million Cash App settlement that seeks to reimburse customers affected by data breaches. Eligible customers may receive payments of up to $2,500.

In April 2022 and October 2023, Block, Inc. and Cash App Investing, LLC faced data breaches. In August 2022, a lawsuit was filed claiming the company was “negligent, made misrepresentations, and breached other obligations to their users” in its handling of the breaches. 

Block, Inc. agreed to a settlement to address the case.

The payments of up to $2,500 are for out-of-pocket losses that can be traced to a data breach event or Cash App error. Examples of these costs include fees for credit monitoring purchased because of the breach, accountants’ fees, and costs associated with missed payments or unrefunded overdraft fees. 

In addition, some customers may be eligible for a reimbursement of up to $75 for lost time or additional transaction losses, the settlement documents explain. 

To be eligible for the settlement, customers must have been impacted by either of the data breaches or have had unauthorized money transfers or unresolved errors in a Cash App account between Aug. 23, 2018 and Aug. 20, 2024. Eligible customers may have received a piece of mail or email with a Notice ID from the settlement administrator, but others who were impacted by the data breach can still file a claim without a Notice ID. 

Eligible customers must file a claim by November 18, 2024. Checks or electronic payments will go out after the final approval hearing, which is currently set for December 16, 2024.