Cash App Redemption Eligibility: How can I receive a $2,500 cashout from Cash App?

meearlier this year, Investing in Cash App and its parent company, Block Inc., have reached a $15 million settlement in response to a lawsuit alleging that they failed to adequately protect user data, leading to serious breaches.

The lawsuit highlights two specific incidents in which unauthorized access to account information occurred, resulting in numerous unauthorized charges, affected Cash App customers. Now, current and former users of the popular online payment service may be eligible to receive compensation under this class action settlement.

Who can receive payment?

Cash App and Block have been accused of failing to take sufficient measures to protect customer information, which led to the data breaches in question. If you are a current or former Cash App user who experienced unauthorized access to your personal information or fraudulent withdrawals between August 23, 2018 and August 20, 2023, you may be entitled to compensation.

In order for your claim to be considered, you must file a claim through the Settlement Administrator’s official website by November 18, 2024. A final hearing to approve the settlement is scheduled for December 16, 2024.

Eligible class members may receive payments based on three types of claims: out-of-pocket losses, lost time losses and transaction losses.

Depending on your specific circumstances and with proper documentation, you may be eligible for up to $2,500 in out-of-pocket losses. You may also be eligible for lost time compensation of $25 per hour, up to a maximum of three hours, as well as any trading losses.

The total amount you receive will depend on the number of claims filed and the extent of your documented losses. If your claims exceed the settlement funds available, your payments may be reduced proportionally.

If you believe you qualify, you should have received a personalized settlement notice by mail or email. However, if you have not received this notice, you can still manually submit your information online to file a claim.

It is important to make sure all of your documentation is accurate and submitted before November 18th in order to qualify to receive your settlement payment.