Cash App has become a major player in online payment systems, with more than 56 million monthly active users, according to its Q4 2024 shareholder letter. A new class-action legal settlement, however, could result in a big payout back to some of those users, possibly up to $2,500 for each impacted customer

The class action lawsuit alleges Cash App and its parent company Block were negligent when a former Cash App Investing employee accessed unauthorized account data in 2022 and when another user accessed certain Cash App accounts in 2023, using recycled phone numbers that were linked to the accounts. 

If you've used Cash App in the past six years and experienced a transfer of unauthorized funds, or if your Cash App personal information or account was accessed without your consent, you could be eligible to file a claim. 

Here's what to know about the Cash App settlement, including how to submit a claim and what we know about the expected payout dates. For more, here's how to secure your Cash App personal and finance information and everything we know about the National Public Data breach.

Who's eligible to claim part of the Cash App settlement? 

You are eligible to submit a claim if you meet any of the following criteria from Aug. 23, 2018, through Aug. 20, 2024, according to the settlement site: 

• You are a current or former customer of Cash App or Cash App Investing and your personal information, your Cash App account or your Cash App Investing account was accessed or obtained without your authorization.
• You had unauthorized or fraudulent withdrawals or transfers of funds to or from your account.
• You had a deficiency in the resolution of an error in a Cash App account or any linked financial account.

How much money could I receive in the Cash App settlement? 

You could claim up to $2,500 per person for out-of-pocket losses and $25 per hour for reimbursement of lost time up to 3 hours if you're eligible to take part in the $15 million proposed settlement. Out-of-pocket losses include costs associated with credit monitoring.

You can also submit a claim for documented transaction losses. To claim an out-of-pocket loss or a transaction loss, you need to provide third-party documentation.

How do I submit a Cash App settlement claim? 

If you are eligible for a Cash App payout, you need to submit a claim form by 10:59:59 p.m. PT on Nov. 18, 2024.

That means submitting your claim online or mailing it postmarked by that date.

If you have claims relating to multiple Cash App accounts, list all of your information about your claims on a single claim form.

Here's the address if you are submitting by mail:

Cash App Settlement
Attn: Claim Form Submissions
1650 Arch Street, Suite 2210
Philadelphia, PA 19103

You have till Nov. 1, 2024, to exclude yourself from the settlement or object to the settlement.

Note: An older version of the form you could mail listed Oct. 15, 2024, as the submission deadline. The new form shows Nov. 18, 2024. In an email, the settlement administrator told CNET, "To air on the side of caution, please follow the October 15th, 2024 deadline. It is possible that the deadlines were changed recently."

When is the Cash App payout date? 

A final approval hearing for the Cash App settlement is scheduled for Dec. 16, 2024, at 9:30 a.m. PT. If approved, payments would go out after that date.

For more, here's the best identity theft monitoring services and our favorite password manager.