Driving with Uber is one way you can earn more money. It affords flexible hours and a chance to make good money on your own schedule. Uber drivers are matched with passengers once requests are placed. Payments for rides are effected in-app in most cities. Uber also accepts cash payments in specific cities like India, Lagos, Nairobi and many others. As an Uber driver, your final pay at the end of the day depends on the following factors:
- Trip fare – This is calculated based on the time and distance of the trip
- Commission – How much commission Uber takes off each ride fare
- Booking fee – Uber collects this from the rider on your behalf. This is used to cover the costs of insurance and safety features. It doesn’t affect your fare
- Tolls – If you had to pay toll at any point during the ride.
Your earning per ride = Trip fare + Tolls.
Uber drivers are paid either via direct deposits to their banks accounts weekly or through the Uber Instant Pay option that allows drivers cash out up to 5 times a day. However, you are charged $0.50 for every time you cash out. Also, every Mastercard, Visa or Discover U.S. debit cards associated with traditional checking and savings accounts are accepted when you use them on Instant Pay.
Another option for cashing out with Uber instant pay is by using the Uber debit card. The Uber debit card links to a business account setup through Uber’s partnership with GoBank. Cashing out with the Uber debit card does not incur a $0.50 fee; however, it involves all of the responsibilities that come with having a checking account.
More About the Uber debit Card
The use of Uber debit cards is not limited to Uber drivers alone. UberEats drivers and other Uber delivery drivers can make use of this debit card. Now, drivers stand the chance to get discounts and cash-back rewards. You stand to gain 3% cash back at Exxon and Mobil gas stations, 1.5 percent at some other gas stations, 8% cash Back on Sprint monthly services payments and purchases at Sprint corporate retail stores or online, 2% Cash Back at Walmart and so much more. Visit here to see all participating merchants.
According to Uber, You must enroll in the Rewards Program before you can participate in the Cash Back Program. You will earn cash back on qualifying purchases made with your Uber Debit Card.
To sign up for a new card
- Login to the driver app
- Go to the Rating tab
- Tap Driving Rewards
- Select Uber Visa Debit Card
- Signup then wait to receive your card
For existing card holders
- Login into your GoBank account
- Accept the new terms and conditions either online or via the GoBank app.
Please note only the use of your Debit Card or Card number to purchase goods or services is a qualifying purchase for the Cash Back Program.
Uber drivers operate as independent contractors and hence, do not enjoy employee benefits. This reward program will go a long way in reducing drivers’ operational expenses So far, there are no draw backs to the program. However, if the cash back percentages can be increased, drivers will be able to save more without expending all their earnings on expenses incurred while driving.
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