Plaid settlement payout per person can be a confusing and complicated process. Those affected by the Plaid breach earlier in 2020, are entitled to a substantial settlement payout to right the wrongs of the incident. But how much, exactly, can each person expect to receive? This article will provide an overview of what to expect in terms of Plaid settlement payout per person and how to go about filing a claim.
What Happened?
In May 2020, the cybersecurity company Plaid disclosed a data breach that allowed hackers to access the personal information of millions of individuals. This prompted a major class-action lawsuit in multiple states and the US District Court for the Northern District of California. The settlement was approved in October 2020, with Plaid agreeing to a global settlement amount of $210 million.
Who Is Eligible for a Plaid Settlement Payout?
The settlement is available to every user of the Plaid products or services between January 1st, 2015 and September 24th, 2020. It also covers anyone who had their personal information compromised by the Plaid breach, including Social Security numbers, bank account information, drivers’ license numbers, and more.
How Much Money Can I Expect?
The Plaid settlement payout is divided into two categories: a cash payout, and a credit score monitoring service. The maximum cash payout is $15,000, with cash payouts ranging from $25 to $15,000. If you are entitled to the same maximum cash payout, you will also receive up to 12 months of credit score monitoring service.
How Do I File a Claim?
To file a claim, you will need to complete an online form. You will need to include your contact information and details about how you were affected by the Plaid data breach. You will also need to attach any document that you have that relate to the incident. Once you’ve provided all the required information and submitted the claim, it should take about eight to 10 weeks for your money to arrive.
When Will I Receive Money?
The settlement is still in progress, and most individuals will not receive their cash payout or credit score monitoring service until mid-2021. If the settlement is agreed upon in court, the payouts will start to be processed shortly after. However, if the settlement is not approved by the court, there may be further delays.
Can I Appeal My Plaid Settlement Payout?
If you feel that your payout is too low or that you should be getting a higher payout, you do have the ability to appeal. If you do decide to appeal your Plaid settlement payout, you will need to submit a written request. It’s important to note that any appeal must be accompanied by supporting documentation that proves that you were affected by the Plaid data breach.
What If I Don’t Want My Plaid Settlement Payout?
If you don’t want to receive your Plaid settlement payout, you can opt out of the settlement. You will need to submit a request to the court in writing, stating that you wish to opt out of the settlement. You will also need to provide any additional documents that prove that you were affected by the Plaid data breach.
Are There Any Restrictions?
Yes, those who are entitled to a Plaid settlement payout will be subject to various restrictions. For example, the money will be paid out as a check, and can only be cashed at certain banks. Additionally, the money is non-transferable and cannot be used for purchasing goods or services.
What Else Should I Know?
Those affected by the Plaid data breach will be subject to various other restrictions and conditions, some of which are outlined in the settlement agreement. It’s important that you understand all of your rights and obligations before filing for a Plaid settlement payout.
Conclusion
The Plaid settlement payout is still ongoing, but those who were affected by the Plaid data breach should expect to receive a substantial amount of money, as well as additional credit score monitoring services. It’s important to note that there are certain restrictions and conditions that you need to understand before filing a claim. With the right information, the process of filing a claim should be relatively straightforward.
