The $15 million Cash App Security settlement got the final approval from the Northern District Court of California on 13 January 2025. The class members who have filed a valid claim before 18 November 2024 eagerly await the payout.
The settlement administrator generally starts working on payout after the approval, as they start the calculation per claimant, verify claims, and others. According to the settlement agreement, the payout will be processed as per the selected method within 90 or 180 days of the issuance. So, the class members expecting the payout can expect the cash app payout by late 2025.
The payout can also be delayed if someone appeals against the class action settlement. The appeal can hold the settlement until it is resolved in court. Under this settlement, the maximum payout can be $2500 for out-of-pocket losses or transaction losses.
| Payout Date | By the end of 2025 |
| Settlement Fund | $15 million |
| Payout | Out-of-pocket losses up to $25,00 Transaction losses Loss of time $25 per hour |
| Claim Deadline | 18 November 2025 |
| Who qualifies? | Current or former Cash App/ Cash App investing customers affected by the data breach during 23 August 2018 and 20 August 2024 |
| Payment Method | Electronic and Physical Checks |
| Settlement website | https://cashappsecuritysettlement.com/ |
Payout Amount
The cash app security settlement involves the Cash App data breach incidents that happened in 2022 and 2023, the class members are the people affected due to the data breach. Hence, as the settlement payout, they receive the payout to compensate for the inconvenience they have to go through.
According to the settlement agreement, the $15 million settlement fund will first be used to cover the attorney’s fees & costs, service payment to the class representative, and administration costs. The remaining funds will be used to provide the following claimant awards:
- Out-of-pocket losses: The class members who had spent money to deal with the data breach can get reimbursement up to $2,500 for their out-of-pocket losses.
- Lost Time: The class members can have the payout for the time they have lost in dealing with the Cash App data security and other related resolutions. The payout for the lost time is $25 per hour, which can be claimed up to 3 hours.
- Transaction losses: Under the settlement, the class members who have claimed the transaction loss due to the data breach can get the lost amount. The claimants who have submitted the proper evidence of their loss with the claim form will receive the payout.
The payout for the Cash App settlement may vary for claimants, as it depends on the award you claimed with proper documentation.
Who will receive it?
According to the Cash App Settlement agreement, the Cash App customer who meets the following requirements will receive the upcoming compensation:
- The current or former Cash App/ Investing customer, or customer of Cash App affiliates, subsidiaries, parents, and their information, or the Cash App investing/ Cash App account was obtained or accessed with their consent during the class period from 23 August 2018 and 20 August 2024.
- The customers who have faced unauthorized or fraudulent withdrawals or errors in the Cash App account or any financial account linked to Cash App during the class period.
- Class members who have filed the claim before 18 November and customers who have not filed the exclusion form will be eligible to receive the payout.
What to do if your information is changed?
The class members of the Cash App Security settlement who have filed the claim should know that if their information is changed from the information they have filed in the claim form, they should immediately report it to the administrator to not miss their payout.
The settlement has several payment methods, and it’s been months since the claim submission, so if any of your information has changed that could affect the payment distribution, you should notify the administrator by calling 1-866-615-9740, or you can mail the update to the following postal address:
- Cash App Security Settlement Administrator
- 1650 Arch Street, Suite 2210
- Philadelphia, PA 19103
Payment Method
The class members who have filed the Cash App Security settlement will receive their respective payout via the payment method they have selected in the claim form. The settlement administrator will process the Cash App Settlement payout through the following payment method:
- Zelle
- Virtual Prepaid Card
- Venmo
- Physical Check
The settlement payout through physical check may proceed later, but the claimants should cash out the payment within 90 days of the issuance. If by any chance the electronic payment is returned to the administrator, the administration will locate the valid address and again dispatch the paycheck to the valid address within 30 days.
The settlement administrator will notify the claimants through the settlement official website when they start the payment distribution, hence you should regularly visit the official website and stay updated.
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