Facebook Settlement Payments Arriving in Louisiana Bank Accounts

(KMDL-FM) Earlier this week, a coworker asked if I had "gotten anything from Facebook." The reason he asked was that an unplanned deposit had appeared in one of his bank accounts. And, before he clicked on the information, he wanted to make sure that this wasn't another cleverly disguised scam presented by the bad guys as a way to take hard-working people's money.

As luck would have it, the payment for just over $30 that landed in his account was legitimate, and it was from Facebook. Here is why Facebook is sending some of you money.

Why is Facebook or Meta Sending People in Louisiana Money?

It has to do with a $725 million settlement that Meta, Facebook's parent company, agreed to over allegations that it shared your personal information with third parties without your permission.

READ MORE: How Is Meta/Facebook Settlement Money Calculated?

READ MORE: Meta Reveals Plans For Multi-Billion Dollar Investment in Louisiana

If you were on Facebook between May 24, 1997, and December 22, 2022, you were eligible to file a claim. The keyword here is "were" the deadline to make a claim against the settlement as passed.

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How much money you'll get as part of the settlement will vary from user to user. The amount is based on how long you were a Facebook user during the claims period. Our understanding is that users received "one point" for each month they had an active account. The number of points and the number of people filing claims will then be put into a formula, and that is how your "settlement amount" will be determined.

What is the Average Payout You Can Expect From the Facebook/Meta Settlement?

The average payout based on court documents suggests that payments of $29.43 to $38.36 will be the most common. People who are approved for a payment will receive an email from Facebook User Private Settlement Administrator; the address associated with the email will be donotreply@facebookuserprivacysettlement.com. The Subject Line will contain the words "Facebook User Privacy Settlement – Settlement and Distribution Status Update".

When Should You Expect Meta/Facebook Settlement Money in Your Bank Account?

As we mentioned earlier in the article, payments are already being dispersed and will continue to be made over the next ten weeks. In most cases, your payment will be preceded by an email three or four days before it is issued. If you choose to have your compensation made via Venmo, PayPal, Zelle, or ACH, you will likely get your claim paid first. Those who opted for paper checks will have to wait a few more weeks.

For more information, you can visit this website for more information on the Meta/Facebook settlement payments.