Cash App users who had claims approved in a $15 million class-action settlement could receive payments this month.
Payments are scheduled for October, according to the official Cash App security settlement website.
Cash App is a mobile platform for sending, saving and investing money. The settlement stems from a lawsuit accusing the app and parent company Block Inc. of failing to adequately protect customers’ information following two security incidents.
In 2022, a former Cash App Investing employee allegedly accessed customer information without authorization. In 2023, an unauthorized access incident involved accounts connected to recycled phone numbers. Block and Cash App dispute the allegations and deny any wrongdoing but agreed to settle.
Current and former Cash App users whose accounts or personal information were accessed without permission, or who experienced fraudulent withdrawals, from August 23, 2018 to August 20, 2024, were eligible to file claims.
The deadline to file a claim was November 18, 2024, and new claims are no longer being accepted.
Approved claimants can receive up to $2,500 for documented out-of-pocket losses related to the incidents, including certain bank fees and credit-related costs. They may also receive compensation for up to three hours of lost time at $25 per hour.
Not every claimant will receive the maximum amount. Payments will depend on approved claims and the terms of the settlement, which established a $15 million fund for eligible users.
A federal court granted final approval to the settlement on March 27, 2025.
The Cash App settlement is separate from other legal actions involving Block, including a $45 million multi-state settlement and federal enforcement actions related to fraud protections and customer service.
Approved claimants can find payment updates and other information on the official settlement website.
The Independent has contacted Cash App for comment.
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