In April 2025, Cash App concluded a significant class action settlement, addressing allegations of unauthorized account access and fraudulent transactions affecting numerous users.
The settlement, amounting to $15 million, aims to compensate eligible users for their losses and enhance future data security measures.
Settlement Overview
The class action lawsuit accused Cash App and its parent company, Block Inc., of negligence concerning unauthorized access to user accounts.
Notably, incidents in 2022 and 2023 involved unauthorized access to user accounts through recycled phone numbers. Affected users had the opportunity to file claims for compensation.
Key Dates
| Event | Date |
|---|---|
| Final Approval Hearing | January 13, 2025 |
| Payment Distribution Start | April 10, 2025 |
| Deadline to Cash Physical Checks | July 31, 2025 |
Compensation Details
Eligible users could receive compensation in the following categories:
- Out-of-Pocket Losses: Reimbursement for unauthorized transactions or funds withdrawn, up to $2,500.
- Lost Time Compensation: Payment for time spent addressing fraudulent activities, at $25 per hour, up to three hours ($75 total).
- Transaction Losses: Compensation for documented transaction losses incurred during the settlement period.
Eligibility Criteria
To qualify for compensation, users needed to meet one of the following criteria:
- Current or former Cash App or Cash App Investing customers whose personal information or accounts were accessed without authorization between August 23, 2018, and August 20, 2024.
- Users who experienced unauthorized or fraudulent withdrawals or transfers to or from their accounts during the same period.
- Individuals who faced unresolved errors in their Cash App account or linked financial accounts within the specified timeframe.
Payment Distribution Timeline
Following the final approval in January 2025, the settlement administrator initiated the payment process:
- April 10, 2025: Electronic payments began processing.
- April 20, 2025: Physical checks were mailed to eligible claimants.
- July 31, 2025: Deadline to cash physical checks.
Contact Information
For inquiries or updates regarding the settlement, claimants can contact the settlement administrator:
- Phone: +1-866-615-9740
- Mailing Address: Cash App Settlement Administrator1650 Arch Street, Suite 2210Philadelphia, PA 19103
The Cash App settlement represents a significant effort to address past security concerns and compensate affected users.
Users are encouraged to stay informed about the payment distribution process and ensure their contact information is current to receive their compensation promptly.
FAQs
How can I check the status of my settlement payment?
Claimants can contact the settlement administrator at the provided phone number or monitor their chosen payment method for updates.
What should I do if my contact information has changed since I filed my claim?
It’s essential to notify the settlement administrator of any changes to ensure accurate and timely payment.
Will accepting the settlement affect my ability to use Cash App?
Accepting the settlement does not impact your current or future use of Cash App services.