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Ikea could owe you money from a class action settlement

Ikea could owe you money from a class action settlement
Posted at 7:30 AM, Apr 25, 2023
and last updated 2023-04-24 12:16:28-04

Ikea might owe you money. If you bought anything from Ikea between Oct. 18, 2017, and Dec. 31, 2019, you might be entitled to benefits from a class-action lawsuit.

Ikea just settled a class action lawsuit for $24 million. The furniture and home-goods chain was found in violation of the Fair and Accurate Credit Transactions Act’s provisions on Identity Theft Prevention and Credit History Restoration when it printed more than the last five digits of customers’ credit card numbers on their receipts. (Ikea has claimed no wrongdoing in the case.)

As part of the class action settlement, customers who shopped at Ikea between Oct. 18, 2017 and Dec. 31, 2019 and used a credit card or debit card may be able to receive a small settlement sum from the company.

So what should you do if you think you are entitled to some of this settlement money from Ikea?

The most important step is to submit a claim form. You can do so by calling  855-958-6213 or visiting the Ikea class action website.

If you were impacted by this settlement, it’s likely you received either a postcard or an email with a claim number. But if you lost that email or card, or you never received one, you can still submit a form via the website and the company will be able to determine if you are owed money. You don’t need to have your receipt.

How much money will you get from Ikea if you are eligible to participate in this class action lawsuit? CNET estimated that you may get about $30 to $60 from the company.

The amount of money you might get from a class action settlement generally depends on the number of people who are involved in the suit — and the number of people who will take the time to submit a claim. Class actions often get very low participation. According to the Federal Trade Commission, only about 9% of consumers take action in class action lawsuits.

The deadline for participating in this class action is the end of the day on May 4, so make sure you submit your claim by then if you want to receive a settlement.

This story originally appeared on Don't Waste Your Money. Checkout Don't Waste Your Money for product reviews and other great ideas to save and make money.