Have you received the Plaid settlement email or filed a claim for the $58 million settlement fee? Are you wondering how much you’ll get from the $58 million? Read this insider’s view to find out everything you need to know.
First of all, $58 million is actually a huge amount of money, but the question that begs to be answered is this; is $58 million worth your violated personal data? For your information, almost everyone’s data has been compromised.
This is because more than 4,500 companies use Plaid.
How? and Why?
Simply put, Plaid is a Fintech company that connect users to other third-party financial applications. This includes Venmo, Acorns, American Express, Betterment, CashApp, and many other leaders in the financial sector.
Plaid $58 Million Settlement Breakdown: Who Takes What?
Just like Bought Milk Settlement, Plaid agreed to a $58 million settlement fee. However, if everyone filed a claim in the class action lawsuit, the settlement would be worth about 44 cents per person.
This is because the settlement covers an estimated 98 million people in the U.S., and of the $58 million, $14.5 million will go to lawyers on the case, then $5000 each to the two claimants.
In the end, class action members who have used Plaid’s services between 2013 and November 19 2021 would be left with a few dollar per person. It all depends on the number of people who file a claim.
However, you shouldn’t have high hopes. In all the class action lawsuits we’ve observed, class action members never received more than $40 dollar each. In this case, with the amount of persons involved, there wouldn’t be enough to go round.
Still, that doesn’t mean you shouldn’t file a claim.
How To Make A Claim?
It is quite simple! If you’re yet to file a claim, you should visit the website plaidsettlement.com and file a claim. It is as simple as that. However you’re only entitled to the $58 million settlement if you fit in the following category;
- if you are a United States resident and you connected a financial account to an app between January 1, 2013 and November 19, 2021.
- if you own or owned one or more “Financial Accounts
Meanwhile, you can confirm whether specific apps or services that connected to your financial account(s) used Plaid for account connections. Yes, you heard me right. You just need to run a search on the SEARCH FOR APP/SERVICE by visiting https://plaidsettlement.com/search.php.