Getting Paid from Uber and Lyft: Get Your Money Fast!
You’ve driven the miles, picked up your passengers and now you want to get paid. Fortunately, it’s not that difficult. You could wait for payday like the rest of the world by why do that if you don’t have to? Take advantage of the several ways you can get paid instantly. Keep in mind you must have active accounts with both Uber and Lyft in order to get paid.
Uber Instant Pay
To set this up requires a few steps but the work you do in the beginning will pay off in the end. You set up an account through GoBank. You’ll need to request an Uber debit card. GoBank says it takes 5-8 days to receive your debit card so patience, please! Are there fees involved? There can be. As of this writing, GoBank waives the $8.95 membership fee for the first six months as long as you get a direct deposit from Uber. No direct deposit? You pay the fee. They also have it set up to waive the monthly membership fee anytime you make other qualifying deposits that total at least $500. GoBank does not overdraft, NSF or penalty fees. For more information on GoBank and how it partners with Uber, you can check out the GoBank website.
Lyft Express Pay
This one is a bit easier to set up than Uber Instant Pay but they charge a 50 cent transfer fee for withdrawals. You’ll need an active debit card or checking account to link to Lyft Express Pay. Once you’ve made $50, you can withdraw funds. The $50 can be a combination of rides, referrals and/or tips. The time it takes to get your money is pretty quick – a few minutes or hours depending on how your bank works. You can find out all of the specifics by visiting the Lyft Express Pay site.
With DailyPay you’ll need to set it up so your direct deposit from Uber goes to your DailyPay account. Now, keep in mind that DailyPay will withhold 10% of your earnings as their protection plan in case there are any problems but you’ll get that money at the end of each pay period as long as all goes well – no problems, no chargebacks. Set up is relatively easy. You’ll need to create a DailyPay account, provide them with your Uber login information, enter your bank account information – routing and bank account numbers then head back over to your Uber account and link it to DailyPay. Pretty straightforward, right? You can literally get paid every single day! Get all the details from the DailyPay website.
Before you can sign up for this, ActiveHours will need to check out your deposit history. They have to verify your income before granting an account because the works as an advance on your paycheck. You can cash out up to $150 a day or $450 a week and once your paycheck has been deposited into your bank account, ActiveHours will pay themselves back. There are some advantages to ActiveHours. There is an ActiveHours app that allows you to cash out on the go, you can set how much you want to pay back at a time and there is no need to set up your direct deposits with ActiveHours – you bank as usual. Signing up is easy. Create your account with ActiveHours, for your pay type you’ll select “Ride Task” and “Direct Deposit,” choose your bank, enter your banking information (encryption ensures security), choose your employer – in this case it will be Uber, enter bank routing/checking account numbers and to verify the account ActiveHours requires you to make two small “test” deposits. Once those have cleared you can begin cashing out. For more information, head over to the ActiveHours website.
All of these have their advantages and disadvantages so it’s really just a matter of doing your homework and deciding which option works best for you. Remember the fees! You don’t want to screw yourself up by neglecting to take into account any mandatory fees. Nobody likes being in the red! Good luck!