How to claim up to $2,500

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Cash App is expected to pay out up to $15 million in a class action settlement over two data security incidents and business practices surrounding unauthorized account access and fraudulent transactions, meaning eligible Cash App users can now file a claim to receive up to $2,500.

In a filing with the U.S. Securities and Exchange Commission, Cash App said the first data breach occurred because of a former employee. “We have determined that in December 2021, a former employee without authorization downloaded certain reports from our Cash App Investing subsidiary that contained U.S. customer information after the former employee’s employment ended.”

According to the class action lawsuit, this ex-employee’s actions and access to customer information resulted in the sensitive personal information of 8.2 million Cash App customers being published online. Another data breach occurred last year when Cash App discovered that some customers’ accounts had been accessed and unauthorized transactions were taking place.

The complaint alleges that Cash App and its parent company Block (formerly Square) have “negligent security features, protocol, systems, screening, and design.” However, Cash App and Block have denied any wrongdoing. PCMag contacted Cash App for comment.

How to make a claim

Any Cash App or Cash App Investing customers who suspect that their Cash App accounts have been accessed by an unauthorized entity, have seen fraudulent transactions on their accounts, believe that a Cash App bug fix was inadequate, or otherwise saw their sensitive personal information swiped through Cash App between August 23, 2018 and August 20, 2024 are eligible to file a claim.

When you make a claim for transaction-based losses because someone breached your account, you must provide documentation that this happened and that you took steps to report it. Any correspondence with Cash App regarding the incident, a police report, a report to your bank or credit union, a report to the FTC or other government agency, or a report to the Better Business Bureau, for example, may suffice as adequate documentation . as long as it was made within the above period.

Those who qualify should file a claim via November 18, 2024via the settlement’s official website.

If you are eligible but would like to opt out of the settlement and still preserve your future right to take legal action against Cash App, the deadline to file an exclusion claim is November 1. Those who object to the settlement can also file an objection by November 1.