The Lyft Direct app is a financial management tool designed specifically for drivers on the Lyft platform. It offers a variety of features to help drivers manage their money more effectively.
One of the main features of the app is Instant Payouts, which allows drivers to receive their earnings immediately after each ride directly into a secure bank account.
Another benefit of using the Lyft Direct app is the opportunity to earn cashback on gas, EV charging, groceries, dining, and more. The amount of cashback varies based on the driver's Lyft Reward Tier.
The app also offers Wellness Perks by Avibra, which provides active drivers with free life and accident insurance, support for their well-being, and other benefits.
Drivers can also use the app to set up automatic savings with a high-yield savings account that earns interest. Additionally, they have access to Balance Protection, which allows them to access funds to cover unexpected expenses.
The app also provides Spend Insights, which allows drivers to monitor their average daily or monthly spending and create custom budgets.
The Lyft Direct Mastercard® debit card, issued by Stride Bank, N.A., is used for all transactions within the app. Ride fare earnings are sent after each ride, and tips are sent based on the rider's selection, which may take up to 24 hours after the ride is completed.
It's important to note that rewards categories and amounts are subject to change without notice and vary based on the driver's Lyft Reward Tier. Cashback rewards are earned for select purchases using the debit card and become available for redemption as those purchases settle.
Wellness Perks, powered by Avibra, is available to active Lyft Direct users and offers various services to support their well-being. Interest is only offered on funds in a Lyft Direct Savings Account, and the annual percentage yield (APY) may change at any time without notice.
Lastly, Balance Protection is only available to Lyft Direct debit card users with enabled instant payouts to the card after every trip. Eligibility requirements for Balance Protection are subject to change without notice, and terms and conditions can be found in the Lyft Direct app.