Millions of people use Cash App to manage payments to friends, businesses and family however the famous app may soon be giving some consumers cash too after getting a $15 million proposed settlement in a lawsuit over the company reply to security breaches.
If you have used Cash App over last 6 years you could be part of proposed $15 million class action settlement.
Cash App is one of mobile payment services such as Venmo or Zello and allow users to send and get cash invest in stocks, make payments, purchase bitcoins at various merchants.
How much money could I get in the Cash App settlement?
You can submit a claim for documented transaction losses. To claim an out of pocket loss or a transaction loss you need to provide third party documentation.
You can claim up to $2,500 for out of pocket losses and $25 per hour for reimbursement of lost time up to three hours. If you eligible to take part in $15 million proposed settlement.
Out of pocket losses involve cost linked with credit monitoring.
When will I get my payout money?
A last approval hearing for the Cash App settlement is scheduled for Dec. 16, 2024.If approved payments would go out after that date.
Plaintiffs in the lawsuit allege that Block and Cash App were negligent when a former Cash App Investing employee accessed account data without permission in 2022 and when an unauthorized user reached various Cash App accounts in 2023 using recycled phone numbers that were connected to accounts.
Who is eligible for a payout in the Cash App settlement?
You are eligible to submit a claim if you meet any of criteria from Aug 23, 2018 through Aug 20, 24 according to settlement site.
You are a current or former customer of Cash App or Cash App investing and your personal data your Cash App account to your Cash App investing account was accessed or get without your authorization.
You had deficiency in resolution of an error in a Cash App account or any connected financial account.
You had fraudulent withdrawals or unauthorized or transfer of funds to or from your account.
How do I file a claim and what are the filing deadlines?
If you are eligible for a payout you need to submit a claim from by Nov 18,2024.
Submitting your claim online or mailing it postmarked by that date.
If you have claim relating to various Cash App accounts list all of your data about your claims on a single claim form.
Cash App says on its website that it uses fraud detection and cutting edge encryption technology to make safe your data and money.
The American Bankers Association warns customers using digital payment services to take precaution such as double checking data before sending amount using multi factor authentication and setting up notification about transaction through email or text.
The customer Financial Protection Bureau encourages customers against storing money on payment app because it is not protected by government.
If the companies fail it could be lost entirely.
Consumer reviews for Cash App on the BBB website which do not influence rating average 1.11 out of 5 stars.
How To SUBMIT A CASH APP SETTLEMENT CLAIM
Claims can be submitted online or by mail. The final approval hearing for proposed settlement will be held Dec 16.
Eligible Cash App customer must submit a claim from by Nov 18.
WHAT IS THE CASH APP DATA BREACH SETTLEMENT ABOUT?
A group of Cash App users allege in class action lawsuithttps://marcopolosports.com/how-to-claim-compensation-from-walmart-class-action-lawsuit-guide/ that Cash App investing and its owner, Block were negligent and broke obligations in responses to two data breaches failing to implement sufficient security controls and not responding to user concerns about fraudulent transactions.
Block and Cash App continue to deny any liability or wrongdoing and the settlement is not an admission of guilt.
The complaint points to incident in 2021 when former Cash App investing employee downloaded reports of few US users without permission and incident in 2023 when unauthorized user get accounts data.
Various potential class member said they lost as $40,000 from their accounts.
What other options do I have?
If you desire to exclude yourself from the settlement class members have the choice to opt out before Novemebr1.
This permit you sue or be part other related lawsuit against defendants down the road.
You can object to settlement agreement by writing to court before November 1.
If you opt for no action you will not get any payments and potentially give up right to pursue another lawsuit with claims covered in settlement.
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