How Does Lyft’s Express Pay System Work?
What is Lyft Express Pay?
Lyft’s Express Pay feature is a convenient part of the Lyft Driver App.
Essentially, Express Pay allows drivers to cash out any earnings they’ve received from driving before their weekly deposit cashes out.
*However, it’s worth noting — exactly when these earnings appear in your bank account is based entirely on your personal bank’s processing time.
Setting Up Express Pay
It’s easy to set up Express Pay:
Express Pay is activated through the Lyft App’s internal Settings:
- Select Payment Info. From this page, drivers can input their debit card information under the “Express Pay” header. Lyft wants drivers to assure that they have entered all the correct debit card information before cashing out through Express Pay.
*Note: A driver’s debit card MUST be a valid United States debit card (and cannot be a prepaid card).
The Lyft app’s website has a list of banking institutions that do not support immediate money transfers through Express Pay (and Lyft encourages drivers to verify that their debit account is valid before attempting to enter into the Express Pay program).
When Can Drivers Use Express Pay?
Lyft drivers must have at least $50 in earnings in order to cash out with Express Pay. In order to do so, drivers simply tap the “Get Paid” button. Drivers must also have the extra $0.50 in their account to pay the Express Pay fee.
For security reasons, when cashing out through Express Pay, Lyft sends drivers a text message in order to confirm the transfer and deposit. Drivers must simply reply to the text message in order to satisfy the security and receive their payment.
Drivers receive their money transfer promptly based on how long it takes their financial institution to process the transfer. This transaction can take hours or days. For this reason, transfers can be delayed on weekends or holidays. Again, it depends on the driver’s bank.
Getting Paid Through Express Pay
As mentioned above, Lyft drivers are eligible to receive a cash out before their full earnings are released. Drivers must have at least $50.50 in earnings in order to access Express Pay. However, the amount listed in the app is only a driver’s full earnings, which means Lyft’s Commission has not yet been deducted from this sum. It is crucial for drivers to look at the Express Pay total, which is the total earnings minus the commission amount.
Additionally, Lyft advises drivers that their “total available earnings” through Express Pay may decrease on Tuesdays. Weekly earnings are issued on Tuesdays, and for that reason, their cash out may already be on its way to their bank and therefore not available in Express Pay any longer.
Most Common Issues With Express Pay
One of the most common issues that drivers have with Express Pay is accidentally cashing out to a canceled debit account. In this scenario, Lyft advises drivers that this transfer will be declined. From there, Lyft will send drivers a text messages indicating that an error has occurred, what the error is and how to fix it.
The second most common issue that drivers have with Express Pay is what to do if a transfer fails. In this scenario, Lyft will again send the driver a text message indicating that the transfer has failed and how to proceed in correcting the failed transfer.
The Lyft app provides further information and instructions regarding Express Pay on their website.