What You Should Know About The Lyft Express Pay Feature

We have not talked much about Lyft but we have many topics to share with you about Lyft in the near future.

Have you been using the Lyft’s express pay feature? It has not been around too long, it was made available to us just a little over a month ago. What do you think of it so far?

It’s awesome, right?

I think it is because you’re free to get your money whenever you need it. though It might be a problem for some people, but if you only use it when needed it should be a nice feature for you.

It should be very helpful at least for the majority of us.

Flexibility is the reason many of us choose to drive for Lyft or Uber. We like the fact that we can turn on the app when we feel like it and no one will ask us questions if we don’t.

That’s the beauty of.

Lyft makes it even more flexible for us by creating this feature. If you want your money today, you can have it. You want it tomorrow, you can have it. It’s up to when you want to get paid.

you’re the Boss of yourself, you don’t have to wait for any one to tell you when you can or cannot receive your money.

Although Lyft and Uber send drivers’ payments out on a weekly basis, Lyft found it to be even better to give us drivers the freedom to choose when we want to receive our payments.

Lyft Co-founder John Zimmer states that Express Pay is “part of the origin story to treat people better. We want to make sure we are the company that treats you better than anyone else.” This quote was taken from TechCrunch.

He means well, right? I think he does at least he’s showing us that his drivers deserve better. Although Uber causes them to cut their drivers’ payment rate per mile as well.

They still do little gestures to help their drivers.

How does the Lyft express pay works?

First, there’s a minimun requirement. You’re not free on this one, you have to accumulate at least $50 before you can use this feature.

Lyft has worked with a company called Stride to built this feature. So far Lyft is the only ridesharing company to have created this feature and allow its drivers the freedom of instant pay.

Are you a Lyft driver? If not click on this link to register.

By the way, by registering through this link above you will be able to earn up to $750 bonus depend on where you live.

All you’ll have to do is complete 30 trips within 30 days after you’ve been approved to drive.

What are the benefits of instant pay?

It’s no rocket science, it’s a great way to put money in your pocket anytime you need it. With this feature your money is just one tap away.

Lyft states:

Express Pay uses push-to-debit technology, which lets you access your earnings in real time – you’ll just pay a $0.50 transfer fee. Most deposits will appear right away, but some banks require an extra business day.

What may be the disadvantages of Lyft express pay?

If you’re someone who like to spend then it would not work in your favor because it can make you spend all your money right after you’ve earned it.

another disadvantage, you might request your express pay but do not receive it when you needed it depend on your banking system. It’s stated on the quote up there, which is straight from the lyft site.

There’s a charge of $0.50 for each transaction. It’s not a large fee, but if you have to get paid instantly on many occasions during a week it can accumulate.

There’s no cancellation of express pay. Once you’ve requested an express pay you can only wait for the money, there’s no turning back.

Weekends and holidays are not the best time to request your express pay. During those periods of time your money may take longer than usual to reach your bank account.

Power driver bonuses cannot be paid via express pay because there’s a calculation requirement at the end of the week. For this reason you can only receive earnings gained from new passenger/driver referrals, driving and tips, and Mentor payments (if you’re a mentor).

Lyft express pay feature

 

How to setup an express pay

  1. Login to the Lyft driver dashboard.
  2. Click on the button that says “Get paid.”
  3. A credit card info will be asked (only once).
    1. this card should be linked to the same checking account you have on file.
  4. Then, you’re done!

You can also use express pay directly from your phone’s app

  1. hit menu.
  2. Go to Settings and then Driver Dashboard
  3. Hit the “Get paid” button.
  4. You will be prompted for your debit card ( First time only).
  5. Voila, you’re done!

Is that something we could see from Uber some day?

I think it’s not impossible to see Uber integrates a similar feature within their app. If you’ve seen both apps before, there’re many similarities.

Uber might be waiting a little bit more before they announce their own fast pay system which would not be a surprise to us.

If you’re a current Lyft driver, have you ever used this feature? What’s your experience with it?

Please share with us below.

Would you like to start driving for Lyft and earn up to $750 just for signing up?

Here is how to do so, click here on this link, follow the instructions. Once you are approved to drive, make at least 30 trips in 30 days.

Then you’ll receive an additional of up to $750 to the money you’ve earned for your 30 trips.

  • RideOrDriveUber

    I’m a currently an Uber driver, but at this moment I’m thinking joining Lyft as well, I heard rumors that Lyft charge driver $5 if they cancel a ride after accepting it even if they can’t find the riders. From your experience, is that true?

  • WESHARERIDE

    Thanks for stopping by RideOrDriveUber! Actually it happened to me once but I’m still not sure if it’s really the case. I happened to cancel a trip which was way too far for me, when I check the money I’ve made for that week it was shown a deduction of $5 for cancellation.

  • Hakuri Odum

    Update your article, lyft doesn’t wait for you to have $50 before processing express pay anymore, it’s $5 now.