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Uber Instant Pay: What It Is And How It Works 2022

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Driving with Uber has never been easier or more convenient.

In addition to numerous perks and safety measures, Uber has further incentivized drivers to continue driving – or prospective drivers to sign up – with a new method of cashing out payments.

If you already drive for Uber or are interested in doing so, you’ll want to know about Uber Instant Pay.

Instant Pay makes it easier, faster, and more convenient to receive payments daily or when you need them most, instead of weekly.

This article will discuss the ins and outs of this payment method, as well as answer frequently asked questions on the topic.

What Is Uber Instant Pay?

Uber Instant Pay is an up-to-date payment system for Uber drivers that allows drivers to quickly and conveniently receive payment up to five times a day.

With the Instant Pay method, drivers can cash out when they need the money they’ve earned without having to wait for the standard weekly payment.

This express pay method is beneficial for drivers who don’t have a lot of savings, don’t like waiting to receive the earnings they’ve made, use or would like to use the Uber Debit Card, or simply want the option for quicker payments.

How Does Uber Instant Pay Work?

Once a diver has completed a trip, the payment automatically is available for them to cash out.

They can leave the money to accrue further, or they can choose to cash out and have the money sent straight to their bank account.

Who Can Use Uber Instant Pay?

Most people who drive for Uber in the United States can use Uber Instant pay as long as they have an active driver’s account.

There is an Instant Pay option for drivers in Canada as well, through the Payfare app, but this article specifically focuses on U.S. drivers.

Uber Drivers

Uber drivers are rideshare drivers who either use Uber solely to drive around customers from point A to point B or drive for other Uber services, like Uber Eats.

Uber drivers can use Instant Pay with an active Uber account, a valid Mastercard, Discover Card, or Visa debit card, and a cash balance of at least $1 to cash out.

UberEats Drivers

Drivers for UberEats are responsible for delivering meals from restaurants to customers who’ve requested delivery. Some drivers only drive for UberEats, while others ride customers around as well.

Uber drivers can use Instant Pay with an active UberEats account, a valid Mastercard, Discover Card, or Visa debit card, and a cash balance of at least $1 to cash out.

Uber Freight Drivers

Uber Freight drivers use Uber for shipping and hauling services.

Uber drivers can use Instant Pay with an active Uber Freight account, a valid Mastercard, Discover Card, or Visa debit card, and a cash balance of at least $1 to cash out.

How Long Does Instant Pay Take?

For most drivers, the Uber money from Instant Pay will almost immediately transfer to your debit card account upon cashing out.

Time Depending on Bank

Not all U.S. banks are created equal when it comes to using Instant Pay. Some banks might delay cash out payments from Instant Pay, and it might take a few business days to receive payments.

The banks and debit cards that do not currently support Instant Payouts include but are not limited to:

  • Aba Card Solutions, Inc.
  • Banco Popular De Puerto Rico
  • First Century Bank National Association
  • Madison County Bank
  • Republic Bank of Chicago
  • Wesbanco Bank Inc.

The banks who accept Instant Pay but may delay the payment for a few business days include:

  • UBOC
  • California Bank and Trust
  • First Citizens
  • Bank of New York Mellon
  • BOKF
  • H&R Block
  • Silicon Valley Bank
  • Amegy
  • Northern TrustWebster Bank
  • First National Bank of Omaha

Check with your bank to ensure that they accept Instant Payments and what the expected time for receiving those payments might be.

What Are the Benefits of Uber Instant Pay?

The three main benefits of Uber Instant Pay are that drivers can get faster payments, more frequent payments, and payments sent directly to their bank accounts through their debit cards.

Faster Payments

Payments are faster when Uber drivers use Instant Pay. As the name of this system suggests, there is no need to wait for your weekly statement to receive payments.

As long as you’ve completed rides and secured earnings, you can cash out.

Up to 5 Times a Day

The next benefit is the frequency in which you can get paid. Instant Pay allows drivers to cash out multiple times a day, up to five times to be exact.

This option provides drivers with more flexibility when it comes to receiving their earnings when they need the money.

Sent Directly to a Debit Card

Finally, for most U.S. drivers and Uber delivery workers, Instant Pay is ready to use immediately upon entering debit card information and completing your first trip.

With your debit card entered, earnings can be sent directly to your debit card and thus your bank account.

Does Uber Instant Pay Cost Anything?

Uber Pay is free to set up, but there are some fees associated with the cash out payments depending on whether you use a personal debit card or the Uber Debit Card from GoBank, now renamed Go2Bank.

Fee for Personal Debit Cards

There is a $0.50 fee for each cash out. Therefore, although you can cash out up to five times per day, you might want to rethink cashing out five times every day, as the fees will quickly add up.

How to Set Up Instant Pay

It’s easy to set up Instant Pay. Once you have your Uber Driver’s App and your credit card handy, you can set up Instant Pay in no time so that you’re ready to cash out after you begin taking rides.

Step by Step Instructions

  1. Open the Uber App
  2. Click on your profile photo
  3. Select your “Account”
  4. Tap on “Payment”
  5. Click on “Set Up Instant Pay”
  6. Add your debit card and personal information

Finally, make sure that you have completed at least one Uber trip before setting up Instant Pay, because you’ll need to have some funds in your balance to be able to cash out.

Uber Instant Pay FAQs

Here are three frequently asked questions regarding Uber Instant Pay.

Which Debit Cards Work With Instant Pay?

Uber Instant Pay accepts most Visa, MasterCard, and Discover cards. 95% of US debit cards will accept Instant Pay.

You can also use the Uber Debit Card, which is issued by GoBank. If you use the Uber GoBank Debit Card, you won’t be charged any fees for your cash out payments. You also won’t be charged any NFT, penalty, or overdraft fees with this card.

Finally, it’s important to note that you cannot use a prepaid debit card for Instant Pay. You also must use a debit card, not a credit card.

How Much Faster is it Than Regular Pay?

Uber drivers that have not set up (or are not eligible for) Instant Pay will get paid weekly.

However, those direct deposit payments sometimes take up to four days to hit drivers’ bank accounts. This means that they sometimes have to wait to be able to use earnings from 11 days prior.

Alternatively, most drivers using major debit cards at popular banks or using an Uber Debit Card can receive payments right after they cash out and cash out up to five times a day.

Ultimately, Instant Pay makes it much faster to receive payments than regular pay. Regular pay might be fine for many drivers, especially if they have a good amount of savings and don’t need to rely on day-to-day funds.

But if you’re out of cash and looking to drive for Uber to get on your feet, daily pay through Instant Pay can be particularly very beneficial.

Is Instant Pay Available on Holidays or Weekends?

You can request a cash out payment using Instant Pay, even on holidays or weekends.

However, your payment may be delayed until the next business day.

Final Word

Uber Instant Pay makes it easier, faster, and more convenient for Uber drivers to receive payments for their hard work.

Given these benefits, if you are an Uber driver, UberEats driver, or Uber Freight driver, setting up Instant Pay today would be wise.

If you have any trouble setting up or using Instant Pay, contact Uber’s customer service team for tailored guidance.

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