A customer taking a receipt at IKEA. Right: TikToker Vivian Tu.
IKEA has agreed to pay out $24 million as part of a class-action settlement, and one TikToker is urging people to claim their share before it's too late.
The class-action settlement was actually announced in March, but TikTok influencer Vivian Tu's explainer video recently blew up because the deadline is just around the corner.
Tu addresses her video to "all former broke college students and current broke adults," and explains that you can make "$30 to $60" in five minutes by jumping on the case.
"IKEA may owe you MONEY," she says in the explainer video, which has been watched well over 600,000 times.
Her video gets most of the facts right, although she says it's an "IKEA North America" settlement, which isn't quite right. The class action might be for IKEA North America Services, LLC and IKEA U.S. Retail, LLC, but is based on stores in the U.S., as the official settlement website shows.
Here's what you need to know about the IKEA class action settlement, and how you might be able to get some cash out of the Swedish furniture retailer in the days ahead.
What is the IKEA class action lawsuit about?
When you pay by credit or debit card at a store, you'll typically be issued a receipt with most of your card numbers hidden and only the last few digits shown.
However, the lawsuit alleges that IKEA printed out receipts that showed too many credit or debit card numbers at its U.S. stores, in violation of a U.S. law.
If you shopped at IKEA retail stores in the United States between October 18, 2017, and December 31, 2019, and paid by card, you may have one of these receipts. You'll know if the receipt shows the first six digits and the last four digits of your card number.
IKEA has not admitted any wrongdoing and the case hasn't gone to court at this point, but the furniture giant has agreed to settle for $24.25 million.
How do I file a claim with IKEA?
Example of a claim.
You need to submit a claim form by mail or email to qualify for the IKEA payout.
The easiest way to do so is to check your mail, because the class action website says postcards were mailed out to many of those who qualify. That postcard includes a claim number that you can use to file online or by mail.
If you don't have a claim number, you can generate one on the settlement website, print if off and then mail it in to the address on the site.
There's nothing to indicate that you actually need the receipt to file a claim, although lawyers will check IKEA's records to confirm that you qualify before giving you a payout.
The deadline to submit your claim is May 4, 2023.
Can Canadians get money from the IKEA class action lawsuit?
The class action settlement is for customers who bought something from IKEA in the United States. However, that doesn't mean you need to be an American citizen or even a resident to qualify.
You can tick "non-US resident" when you generate a claim form. That means that if you're a Canadian who bought your Billy bookcase south of the border, you still might be eligible.
How much will I get from the IKEA settlement?
The IKEA class action website expects plaintiffs to get "between $30 to $60," depending on how many people file for it. The more claims, the less money you get.
There is no exact date for when the money will be sent out, but a hearing is set for July 28 and it could take over a year for payments to go out.
In other words, file your claim and then forget about it! Then you'll be surprised when the money shows up in the mail.
This article's left-hand cover image was used for illustrative purposes only.
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