Cash app settlement payout date 2025: When will the money be credited?
ByHT News Desk
Mar 31, 2025 08:43 PM IST
The $15 million settlement addresses unauthorized data access and fraudulent transactions
Millions of users impacted by Cash App’s data breach and fraudulent transactions are eagerly awaiting their settlement payouts. While the Cash App Settlement is expected to be finalised by the end of 2025, the exact payout date depends on how long it takes to settle appeals, verify claims, and calculate settlement amounts for qualifying claimants. As a result, the payout could come earlier or later than expected.
The compensation payouts for the millions of users affected by Cash App's fraudulent transactions and data breach are anxiously awaited.(Unsplash )
The compensation payouts for the millions of users affected by Cash App's fraudulent transactions and data breach are anxiously awaited.(Unsplash )
What is the Cash App Settlement?
The Cash App Settlement stems from a class action lawsuit over unauthorized access to user data, leading to fraudulent transactions, data breaches, and other security issues. Cash App agreed to pay a total of $15 million to resolve the dispute, compensating those who were affected by these security lapses. The payout is available to users who submitted legitimate claim forms by the deadline of November 18, 2024.
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Cash App Settlement Payout Schedule
The payout for eligible claimants is expected by the end of 2025, though the exact date may vary. A few factors may delay this, including the appeal process and claim verification. The final approval hearing for the settlement is scheduled for January 13, 2025, and depending on the length of the appeals phase and administrative processes, claimants could see their payouts by late 2025.
Settlement Payout Details:
Out of Pocket losses: Claimants who filed for reimbursement of out-of-pocket losses and provided supporting documentation can receive up to $2,500. This applies to those affected by data breaches and other security issues in their Cash App or Cash App Investing accounts between August 23, 2018, and August 20, 2024.
Lost Time Compensation: Claimants who experienced losses due to time spent handling the fallout from the breach (including contacting customer service, monitoring accounts, and securing data) can be reimbursed at a rate of $25 per hour for up to three hours, totaling $75.
Transaction Losses: Claimants who experienced transaction losses between August 23, 2018, and August 20, 2024, and who provided supporting documentation (such as police reports or notices of the incident) are eligible for a share of the settlement funds.
Who is eligible for the Cash App Settlement Payout?
To qualify for the settlement, individuals must have been Cash App users between August 23, 2018, and August 20, 2024, and experienced fraudulent transactions or unauthorized access to their account information during this period. Those who have provided evidence, such as bank statements, receipts, or records of unauthorized transactions, are eligible to claim their share of the settlement, provided they submitted a valid claim form by the deadline.
Why Could the Cash App Settlement Payout be delayed?
Several factors could contribute to delays in the payout process:
Appeals Process: After the final approval hearing, the appeal phase can delay payouts, especially if numerous appeals need to be resolved. This could extend the timeline by months.
High Volume of Claims: If there is a large number of claims to process, it could take longer for the claims to be reviewed and verified, delaying the distribution of payouts.
Verification and Additional Criteria: If the settlement involves multiple payout categories, calculations can take extra time, leading to further delays.
Delivery Method: Claimants who opted for physical checks will experience longer wait times compared to those who chose digital payment methods such as PayPal, Zelle, or direct transfer.
How to check the status of your Cash App Settlement Payout?
To verify the status of your Cash App settlement payout, you can contact the Class Administrator at +1-866-615-9740 or use the mailing address listed on the official settlement website. The class administrator is responsible for overseeing the settlement process, including processing payouts and confirming claims.
When reaching out, be ready to provide specific information regarding your claim, such as the Claimant Unique ID and Confirmation Code. The settlement administrator can update you on the status of your payout, inform you of any delays, and guide you on the next steps if necessary.
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For those who qualify, the Cash App Settlement offers an important financial reimbursement following the breach of user data. While the payout is expected by the end of 2025, claimants should remain patient as the final steps of the process are completed. Stay informed by checking your SSA account and settlement communications regularly to ensure you receive your payout as soon as possible.
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