Uber Starts GoBank Instant Pay in San Francisco
Last week, Uber launched their own Instant Pay program to drivers in San Francisco. This new program from Uber will allow drivers to be able to cash out their earnings anytime during the week. This is similar to Lyft’s own Instant Deposit Program where drivers can deposit cash into their checking account via their debit card after they have earned more than $50 with a transaction fee of 50 cents.
Uber’s have partnered up with GoBank to provide their Instant Pay program. How it works is that you sign up with GoBank for a debit card and drivers receive it within 7-10 business days. Once you get the card, you can use it at more than 42000 ATMs to withdraw your week’s earnings for free.
Here are the major differences between Uber’s Instant Pay Program and Lyft’s Instant Deposit:
- Lyft’s Instant Deposit program works with your existing checking account and pays through your debit card. Uber’s Instant Pay Program requires a separate debit card from GoBank.
- Lyft requires a minimum of $50 before a deposit is made. Uber doesn’t seem to have a minimum amount to withdraw.
- Lyft charges 50 cents for the deposit. It is free with GoBank at 42000 ATMs.
- Lyft’s Instant Deposit is nationwide while Uber is only available to drivers in San Francisco.
It is only available to drivers in San Francisco, but I believe it will be nationwide within a few months once they get enough feedback from the program in San Francisco and once they set up a bigger program with GoBank. This program is another direct copy from Lyft, but overall this feature will make it much for a small group of drivers who are week to week with their cash. This pushes the flexibility of such jobs so that you can get paid almost instantly after performing a service, which is drastically different from most full time jobs who paid biweekly.
Below is more details about Uber’s Instant Pay program:
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As part of this pilot program, drivers can apply for an Uber Debit Card from GoBank.
Applying is easy and free:
Get Paid Instantly with the Uber Debit Card from GoBank
- Cash out anytime: no minimum amount required
- No credit check required
- No overdraft fees
Today’s launch of Instant Pay is a result of valued feedback from our driver-partners. We look forward to inviting more drivers to this pilot program, and developing more features that help more drivers reach their goals.
Check out GoBank for more information.