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Saturday, November 08, 2014

Uber drivers must prepare for an upcoming Direct Deposit delay: Bank Holiday

On Tuesday November 11, 2014, we will celebrate Veteran's Day. We honor our military Veterans who served their country proud. Furthermore, UberMilitary is taking initiative to add 50,000 military Veterans and their families as Partners. We give this technology company a salute for their respect.

As usual, Uber Partners must be prepared to possibly receive their direct deposit a day later. Typically, Partners are paid out every Thursday morning. Because Veteran's Day is considered a bank holiday, direct deposits may be paid out on Friday.

Uber hasn't sent out any notices to inform their Partners about this potential direct deposit delay. However, we expect whenever there are bank holidays that Uber's Bill.com payment provider will pay out earnings on Friday instead of on Thursday.

In the financial world, a single day can make a huge difference. Therefore, plan accordingly to withstand this payment delay. Many drivers who received past text messages informing them of previous payment delays, scrambled to cover bill payments that posted on Thursday. If payment arrangements scheduled on Thursday are missed, this may result in adverse credit reporting.

It is not easy for ridesharing and commercial drivers to survive at these ride app companies. Though ride app companies conform to this weekly direct deposit structure, previous notifications in previous payment delays reach too late. This extra wait may impact drivers and influence their driving habits.

There is no guarantee that drivers connected with these ride platforms will receive direct deposits this upcoming Thursday morning. Prepare for a 1-day direct deposit delay.

Uber Direct Deposit name: Rasier will appear as direct deposit name in bank account