money transfer alternative which was previously under investigation for double charging customers, has been sued again and recently agreed to a $15 million settlement for data breaches that affected their customers.
According to the lawsuit, 8.2 million customers had their information exposed including names, brokerage account numbers and investing activity — including portfolio values. Eligible consumers who were victims of the data breaches one reportedly orchestrated by an employee and the second by a Cash App user eligible customers may receive up to $2,500 for out-of-pocket costs.
To be eligible, your account must have been impacted by unauthorized access of personal information or fraudulent withdrawals between Aug. 23, 2018, and Aug. 20, 2024. And you must be able to document your losses.
While Cash App is not admitting any wrongdoing in the data breach case, the mobile-money transfer company will reimburse qualifed recipients for:
- Out-of-pocket losses (up to $2,500)
- Credit monitoring or identity theft insurance
- Obtaining a credit report
- Canceling and replacing a payment card
- Closing and opening bank accounts
- Miscellaneous expenses like postage, phone charges and express mail
- Unrefunded overdraft or overdraft protection fees
- Unrefunded late or missed payment fees
- Compensation for lost time ($25 per hour for up to three hours)
- Transaction losse
If you satisfy the eligibility requirements, you can apply for your piece of the settlement by submitting a claim here.
The website asks users to submit a notice ID and a confirmation code if they received a personalized notice about the settlement in the mail or by email.
There’s also an option for people who weren’t contacted to submit a claim and make the case that they’re eligible.
You’ll be asked if there were unauthorized withdrawals from your Cash App account or linked accounts. You should submit supporting documentation like communications with Cash App, receipts documenting losses or police reports.
The deadline to submit a claim is Nov. 18, 2024 and the final approval hearing is set for Dec. 16.