We live in an era where we no longer rely solely on banks to send and receive money. There are many reasons, but a major one is to simplify transactions, especially when considering international transactions. This is why many people have turned to payment applications (apps), such as Cash App and PayPal. These payment apps have many pros, but let’s not forget their cons, which include security risks, such as fraud, phishing, data breaches, and cyberattacks. One of these cons is why Cash App is still paying up to $2,575 for one group of people.
Cash App is still paying up to $2,575
The payment app, Cash App, had a user morale that became slightly wobbly after incidents between August 23, 2018, and August 20, 2024. A class action lawsuit was filed due to unwarranted access to user data, which resulted in various security problems, such as data breaches and fraudulent transactions. The company agreed to a $15 million settlement to make amends to those affected by the security issues.
Affected users who filed a claim form before or/on the deadline of November 18, 2024, qualified for the settlement payout. Unfortunately, millions of affected users are still awaiting their payouts, even though the settlement’s final hearing took place on January 13, 2025. There are many factors that will impact exactly when the qualifying group of people will receive up to $2,575.
One group of people will be receiving up to $2,575
The users who qualify for the settlement payout include any Cash App user affected by the security issues between August 23, 2018, and August 20, 2024, and who filed their claim forms successfully with supporting documentation by the deadline. Supporting documentation includes receipts, bank statements, and records of unauthorized transactions.
This is what affected users could claim
- Out-of-Pocket Losses:
- Claimants may receive up to $2,500.
- Lost Time Compensation:
- Time lost due to contacting customer service, monitoring accounts, and securing data could earn claimants a reimbursed rate of $25 per hour for up to three hours.
- Transaction Losses:
- Transaction losses between August 23, 2018, and August 20, 2024, with supporting documentation (like police reports or incident notices), could earn claimants a share of the settlement funds.
Qualifying claimants can expect their payouts through bank transfers or deposits to their Cash App accounts. The payouts have been experiencing delays, and they could last longer.
The settlement payouts are experiencing delays for these reasons
The date for the settlement payouts has resulted in extreme frustration for some and confusion for others. So far, the payouts are reportedly expected by the end of 2025; however, the precise date could differ. According to the Cash App Security Settlement, even though the final hearing has already taken place on January 13, 2025, various factors could still delay the payout date.
Factors that may delay payouts:
- High Claims Volume
- Processing a vast number of claims may take longer to review and verify, resulting in a delay.
- Verification and Additional Criteria
- Calculations may take longer due to multiple payout categories.
- Appeals Process
- The appeal phase after the final approval hearing may delay payouts for months.
- Delivery Method
- Physical checks will result in longer waiting times compared to direct deposits or payment app deposits.
- Technical difficulties
- The system becomes overloaded with high numbers of digital payouts or there could be processing difficulties with third-party platforms
No one likes waiting, especially for much-needed money from settlements like this. We know it can be excruciating, and may result in feelings of uncertainty. To beat the waiting blues, try staying up to date with the process by visiting the Cash App Settlement’s official website. Your claim status will be updated on the website, the payment schedules are usually posted there, and the settlement administrator typically posts updates on it directly.
Disclaimer: You should not submit false or inflated claims under penalty of perjury, as class‑action claim forms historically required declarations signed “under penalty of perjury” to ensure authenticity. Submitting a fraudulent claim not only carries legal exposure—including potential civil and criminal sanctions—but also harms other eligible class members by diluting the available settlement pool.
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