How does Lyft pay me?

Lyft pays you through a system that is used directly in the Lyft app. Lyft drivers are paid based on each ride that they give to a passenger. The payment you receive from Lyft is made through a secure direct deposit system that relays the funds directly into your bank account. Here is the Lyft payment system broken down into stages:

• After you complete a Lyft ride, the company calculates the fare of the ride based on distance and the time it took you to complete the trip.

• Lyft then deducts a service fee from the total fare, this can be anywhere in the range of 0% to 25%, depending on the Lyft market you are operating in and the type of ride you just gave.

• The number of funds left over after deduction are yours, this includes a tip if your rider gave you one.

• You can then choose to cash out your earnings at any point, this can be done manually or through a feature called Lyft Express Pay (there is an $0.85 fee for each Lyft Express pay transaction).

• Once you have cashed out your earnings in your Lyft account, the funds are then transferred directly to your bank account. There may be a waiting time of a few business days for the transaction to complete, but if you use the Lyft Express pay feature, the transaction is instantaneous.