In today’s digital age, mobile apps and online financial transactions have become an integral part of our lives. In this context, Cash App is a popular payment app that millions of people use to send, receive and invest money. But recently an important news has come out – a $12.5 million (about Rs 104 crore) settlement has been reached on Cash App.
Now the question is:
Are you eligible for your share in this settlement?
- How to claim?
- What is the reason for this settlement?
All the questions will be answered in detail in this article.
What is Cash App?
Cash App is a US mobile payment service developed by Block Inc. (formerly Square Inc.). Through this, people can:
- Transfer money
- Pay bills
- Invest in cryptocurrency
- Buy stocks
It is especially liked by the youth because it is easy and fast.
What was the reason for the $12.5 million settlement?
This settlement against Cash App is due to a class action lawsuit. A class action lawsuit means when a lot of people come together and file a lawsuit against a company.
The allegation in this case was that Cash App violated the rules related to customer privacy and data.
The main complaints were:
- Misuse of sensitive customer information
- Flaws in data security
Lack of transparency related to transactions
Although Cash App has not accepted these allegations, the company has agreed to settle $12.5 million to avoid controversy and satisfy customers.
What is included in the settlement?
This amount of $12.5 million will be distributed among all the customers who have used Cash App within the prescribed time frame and are named in the case.
- Objective of the settlement:
- To compensate affected users
- To restore customer trust
Who can claim in this settlement?
The set criteria for eligibility are:
- You must be a US resident
- You must have used Cash App during the period when the data breach occurred
Usually, the nomination list for class action cases is prepared in advance. But still, if you have received a notice or email, it means you are eligible.
How much money can you get?
The amount that each eligible person gets depends on the total number of people who claim.
Example:
If 1 lakh people claim, then per person can get around $100 to $200.
But this is an estimated figure. The final amount will be decided by the settlement administrator.
How to claim? (How to Claim)
If you want to make a claim, you can do so straight away if you fulfill the eligibility criteria- just do a print out or screen snap of this page; if this Web url has links, click at the links that appear there so that you can go through the norms in the state.
Go to the settlement website:
An official website is created for the class action settlement. Go there and fill the form.
Fill in personal information:
- Name
- Address
- Cash App account details
Submit documents (if asked):
In some cases, you have to provide documents to prove that you used Cash App during that time period.
Keep an eye on the deadline:
There is a deadline to submit a claim. This date is clearly given on the website.
Wait for payment:
Once you submit a claim, you will be notified via email or post whether your claim has been accepted or not. Payment can be made via check or direct deposit.
Well, should I make a claim in the first place?
- Yes, definitely, claim if eligible.Because:
- It is your right
- Compensation determined by the company is being given
There is no additional charge
Be aware that many fake websites and scams also become active in such cases. Always visit the official settlement website.
Precautions related to settlement
Avoid fake calls and emails:
If someone asks you for bank details or OTP, do not give it.
Check the URL of the settlement website:
Fill your information only on authorized and secure websites.
Increase the security of your Cash App account:
Update password and security settings.
Can people from India also claim in it?
This settlement is exclusively for US residents. Therefore, people from India or other countries cannot participate in this class action lawsuit.
But if you live in the US or are a US citizen, and you have used Cash App in that period, then you may be eligible.
Conclusion
The Cash App $12.5 million settlement is an important example of how companies are held accountable to their customers. If you are eligible for this settlement, file your claim as soon as possible. This will not only give you financial benefits, but companies will also realize the importance of customer safety.
FAQs
Q1. What is the $12.5 million Cash App lawsuit settlement about?
A: It is a class action settlement where Cash App has agreed to pay $12.5 million to resolve claims related to user privacy and data handling concerns.
Q2. Who is eligible to claim money from the Cash App settlement?
A: U.S. residents who used Cash App during the affected period and are part of the class action group may be eligible.
Q3. How can I check if I am part of the settlement?
A: You may receive an official notice via email or mail. You can also check the official settlement website for eligibility.
Q4. How much money can I expect from the settlement?
A: The amount varies based on the number of valid claims filed. Estimated payments may range from $50 to $200 per claimant.
Q5. Is there a deadline to submit my claim?
A: Yes, there is a claim submission deadline mentioned on the official settlement website. It’s important to file before that date.