Cash App (Block, Inc.) was questioned on how it handles unauthorized transactions, mostly involving freezing accounts and fraudulent payments.
The company decided to settle this matter with $15 million (approximately Rs 125 crore). Essentially, the settlement is to provide compensation to customers who are wrongfully denied access to their accounts and for whom some kind of fraud has occurred.
Who can make a claim?
If there has been some unauthorized activity from your Cash App account then you can apply for the settlement. In order to be eligible, the following conditions must be satisfied:
- You had a Cash App account to make use of the service.
- Your account data was somehow accessed without authorization.
- Money was withdrawn from your account without your permission.
- There has been no adequate resolution to your account issues (between August 23, 2018, and August 20, 2024).
- You have to be a permanent resident of the US.
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Cash App Settlement Payment 2025 – Recent Update
By March 2025, a $15 Million settlement is underway and each eligible customer is estimated to claim the compensation of around $2,500 (approximately Rs 2 lakh).
Important dates for the settlement:
- Deadline for filing a claim: November 18, 2024
- Settlement final hearing: January 13, 2025
- Payment date: Yet to be decided (most likely by mid or late 2025)
How do I get my claim?
If you are eligible for this settlement, you are supposed to file your claim, which can be done by the following two methods:
- Online: Go to the official website cashappsecuritysettlement.com and fill in the online form.
- Post: Take a printout of the claim form, fill it in, and mail it to the stated address.
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Documents required while making a claim:
- Cash App account details
- Proof regarding unauthorized transactions (such as bank statements, emails, etc.)
- Details of the account if it was frozen
- Proof of identity (driving license or passport)
How much will I get?
If you can provide proof for losses due to fraud, you may receive compensation up to a maximum of $2,500.
If you do not hold any proof with regard to the financial loss, a fixed sum of at least $50 (about Rs 4,200) will be awarded to you.
How will the payments be made?
There are two methods available for receiving payment:
- Direct payment: In this option, payment will be directly transferred into your bank account if bank details were provided in the claim form.
- Check through mail: When meeting the above conditions, if the bank details were not provided for the settlement, payment will be through a check delivered by mail.
Settlement Background
Block, Inc. has faced accusations of not having enough measures in place to protect the sensitive information of Cash App users. There were huge data leaks in 2022 and 2023, where the information for millions of users was leaked and unauthorized money was withdrawn from their accounts.
How to avoid falling into such cyber frauds in the future?
If you are using Cash App or any other digital payment service, take some measures to increase your security:
- A strong password: Choose a strong password for your account and change it every now and then.
- Two-factor authentication (2FA): Enable two-factor authentication to make it near impossible for anyone to gain access to your account without your consent.
- Do not click on links from unknown sources: Avoid clicking on any links given in a suspicious email or text message.
- Check accounts regularly: Check your bank statements from time to time and check your transaction history.
How to Check Cash App Settlement 2025 Payment Status?
In case you have filed a claim already, the following modes can be used to check the status of your payment:
- Official Website: Visit cashappsecuritysettlement.com and login.
- Email Notifications: Keep checking your email from time to time since payment information will be sent there.
- Contact the Administrator of Settlement: Call or email the Settlement Admin in case of delay.
Important Tips – Receive your payment without fail!
- Choose the right payment mode: Direct deposit is the quickest method.
- Be Patient: It might take 4-5 working days for the payment to be processed.
- Change of Address: Update your new address immediately with the Settlement Administrator if there is a change in address.
Conclusion: Will you receive benefits from this settlement?
If you are one among those many users who might have faced issues, or problems with the account security or transactions of Cash App, you are entitled to this settlement.
Your money will be safe, but you need to prove your worth in taking advantage of this settlement. Claim your rightful dues on time, and keep checking your payment status intermittently.
👉 Find more details on the website: cashappsecuritysettlement.com