Time’s almost up, cash in on Cash App’s $15 million settlement before it’s too late

Your chance to stake a claim on some cash is dwindling.

For those who’ve been using Cash App as their main app for sending money electronically since 2018, time is quickly running out to submit a claim for up to $2,500 in a $15 million settlement.

As of today, users have until Nov. 18 to file a claim or withdraw from it all at once.

The class action lawsuit involves Block Inc., which owns Cash App and Cash App Investing. The company was accused of negligence and breaching obligations they had to users back in 2022 when a former employee accessed account data without permission.

In a 2022 filing with the U.S. Securities and Exchange Commission, Block Inc. said that it was notifying roughly 8.2 million current and former users addressing what happened.

According to the lawsuit, Block Inc. was negligent again in 2023 when “an unauthorized user” accessed a few Cash App accounts while using recycled phone numbers that were linked to those accounts.

Block Inc. and Cash App Investing were also accused of failing to protect those accounts after both incidents and also didn’t “adequately resolve customer complaints regarding unauthorized or fraudulent transactions.”

Even though Block Inc. and Cash App Investing denied liability and wrongdoing earlier this year, they agreed to the $15 settlement.

So, if you think there’s a chance this all applies to you, a website outlining the settlement says you could be eligible if you have been or were a user of Cash App and/or Cash App Investing, and your account was accessed without your permission or there were unauthorized or fraudulent withdrawals or transfers with your account between Aug. 23, 2018, and Aug. 20, 2024.

For those who plan to submit a claim before it’s too late, if you’ve received a notice in the mail or via email, you can either enter your notice ID or confirmation code on the settlement website. If you didn’t receive a notice but believe you are still eligible, feel free to complete a claim form here.

For those who’ve already submitted a claim, if the settlement and payments are approved, claimants could receive up to $2,500 “for out-of-pocket losses” experienced during the stated timeframe, the settlement website explains.

But remember, you’ll need to submit “third-party documentation” that supports “a data security incident, unauthorized account event, or deficiency in error resolution” with your Cash App or Cash App Investing account.

Claimants can also submit a claim to be reimbursed for loss time, which would be capped at $25 an hour for three hours in this case, for a total of $75, and for documented transaction losses due to “an unauthorized account event.”

To do this, you’ll have to submit at least one of three options: a copy of a notification of an unauthorized account event; a copy of a police report related to an unauthorized account event; or a document demonstrating your account was accessed without your permission.

More details regarding available settlement benefits can be found here.

Right now, it’s unclear when payments will be dispersed. A final approval hearing for the settlement was scheduled for Dec. 16, 2024, even though the site states it’s been rescheduled to Jan. 13, 2025, as it awaits court approval.