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Friday, March 20, 2015

Keep two banks and two rideshares to avoid financial meltdown

A ridesharing driver shared that his bank account got closed down for no reason. He had to respond to this situation promptly to avoid future payment delays. This bank didn't give their former customer an explanation. It sounds like Lyft is also hanging out in banks disguised as wolves in sheep's clothing.

No integrity. No loyalty. No trust. No respect. Just poor business practices to get ahead. Chase is a bank that may operate like Lyft. When a customer has no real value, these companies react fast to break ties with them. Unfortunately, a driver without a bank account won't get paid quickly.

We're sharing this to prepare you for the worst. Don't be sitting in your dining room when a tornado powers through your home. Protect your future. Sign up to drive for multiple ridesharing companies. Open two or more banks to avoid financial meltdown.

The moment a rideshare deactivates you, there is no waiting period. You can get on the road with one or two of your backup ridesharing services. If and when a bank closes your bank account for no reason, you can switch your ridesharing payments to a backup bank.

Don't play games with these companies. They know you need them more than they need you. These companies operate this way to increase their profit margin. If you don't make them money, you don't matter. It shouldn't be this way, but unfortunately it is.

Once banks close down accounts, they could freeze your funds and delay sending your money a few weeks. What will you do without your money? It will be tough to pay your bills, accept payments and afford gas to get on the road.

Retain two bank accounts and at least two ridesharing companies to survive unexpected deactivations and closures. Stay ahead of the game; don't be passive waiting on the sidelines. Good luck!