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What Is Lyft Cash, And How Does It Work? 3 Concepts To Understand

Last updated: August 20, 2021
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vector graphic of a hand holding a mobile phone displaying the lyft cash screen

Ridesharing has been growing in popularity across the globe, and Lyft is one of the popular applications for getting ridesharing taxis.

With a single tap on the Lyft app, you’ll get connected to the closest local rider available.

When paying for Lyft with your credit card, Lyft automatically charges the bill for the journey to the card.

But, technology isn’t perfect, and there are times when you may experience difficulties trying to pay for the ride.

Situations like the above can be inconvenient and embarrassing.

Thankfully, Lyft has developed a better payment method to avoid payment issues — Lyft Cash.

Lyft Cash is an easy way to make payments for your taxis via the ridesharing app.

What is Lyft Cash?

Lyft Cash is a way to add virtual money to the Lyft app to make payments for your rides.

You can liken Lyft Cash to a digital wallet that allows you to add money to the ridesharing app.

As long as you have money on the app, you don’t need to pay with any other payment option.

Lyft Cash is a gift card created and used on the Lyft app for payment.

You can purchase it as a physical or digital card.

Whichever one you choose, you have to activate the gift card on the Lyft application.

You can only use lyft Cash to pay Lyft drivers for their services.

Unlike regular gift cards, you can’t redeem Lyft Cash and change it into physical cash.

Likewise, you can’t transfer any value you have in Lyft Cash into a bank account.

Where Can I Use Lyft Cash?

For now, Lyft Cash is only available for rides in the United States of America.

Therefore, to buy a Lyft Cash card, you have to fund it using United States dollars.

Are There Any Limitations to Using Lyft Cash?

Aside from being extremely easy to use, Lyft Cash is safe to use as your preferred payment option.

You need an account with a good record to register, activate, and use Lyft Cash on the app.

When you buy Lyft Cash with your account, you can’t spend it via another account.

Your Lyft Cash may get suspended by Lyft due to verification issues.

In this case, it’ll be impossible to use the Lyft Cash payment method to pay drivers.

Your second preferred payment option, which you used to fund your Lyft Cash, will kick in.

The best part is Lyft Cash credits have no expiry date.

Any value you own in Lyft Cash remains untouched for as long as you want it.

But if you delete your account, you’ll forfeit every value in your Lyft Cash account.

How Does Lyft Cash Work?

vector graphic of a hand holding a mobile phone displaying the lyft cash screen

The way Lyft Cash works is simple.

Lyft Cash is available in the payment tab of your Lyft application.

Simply set it up, and you can start making payments via Lyft Cash.

Once you buy and activate Lyft Cash on your Lyft application, it becomes your default payment option.

Unless you change the settings in the payment tab of your application, you’ll automatically use Lyft Cash to pay for rides.

To use Lyft Cash, you must have another payment option as an alternative.

This way, if your Lyft Cash balance isn’t enough to pay Lyft drivers, the alternative payment option kicks in.

For instance, let’s assume you only have $10 left in Lyft Cash, and your fare is around $28.

You can pay for your ride with the alternative payment method.

Anytime you fund your Lyft Cash, it becomes your default payment method.

Although, you can decide to use it once or set Lyft Cash as the automatic payment option.

To set Lyft Cash as an automatic payment option, you must activate the Lyft card refill feature.

Here’s how the Lyft card refill feature works:

  • When your Lyft Cash is under $15, the ridesharing app automatically buys another Lyft Cash gift card.
  • You can’t reverse the purchase of a new Lyft Cash. But, you can stop the app from helping you purchase Lyft Cash automatically.

How Do I Get Lyft Cash?

Once you have the Lyft rider app, getting Lyft Cash is no big deal.

All you need to do is add some money to your Lyft account via a preferred payment method.

As long as there’s money on your Lyft account, you have the Lyft Cash feature.

You can choose not to use the money you have in Lyft Cash.

All you’ll need to do is turn off the Lyft Cash option in the ride payment tab.

Owning Lyft Cash is as easy as getting the Lyft application.

However, it’s important to note that you can’t use Lyft Cash to pay for every fee on the Lyft app.

For costs like damage fees or lost and found fees, you can’t use the Lyft Cash gift card.

How to Add Lyft Cash

Open your Lyft app and navigate to the payment tab via the menu.

You can add Lyft Cash manually, or you can automate the process.

Adding Lyft Cash is as simple as following this process:

  • Hit the menu icon at the top left of the application.
  • Click on the payment option to change your payment info.
  • Under the Lyft Cash card option, click on ‘Add Cash.’
  • Input the amount of cash you want to add.
  • If you want, you can activate the auto-refill option to refill your Lyft Cash with that amount once your balance is less than $15
  • Check out and choose your payment method (this payment method will be your alternative payment option).
  • Click on purchase

How to Add Gift Cards to Lyft Cash

To add Lyft gift cards to Lyft Cash, you need the gift card code and pin.

You can add gift cards to your Lyft Cash by following these steps;

  • Hit the menu icon at the top left corner and click on payments
  • Click the gift card option
  • Input the gift card code and the pin of the gift card.
  • The value of the gift card will reflect on your Lyft Cash immediately.

Managing Lyft Cash Settings

Lyft Cash is an optional feature.

You can deactivate, manage, and activate Lyft Cash settings on the ridesharing app.

All you need do is navigate your way to the menu and click on the Lyft Cash option.

You have the liberty to set auto-refill to whatever amount you desire or disable it.

You can also choose a different payment method for Lyft Cash.

For instance, if you want to change from a prepaid card to a credit card, you can do it via the payment tab in your Lyft application.

Frequently Asked Questions

Below are answers to common questions:

Can I Refund Lyft Cash?

You can refund your Lyft Cash manually by following the process described above or automating the process.

Also, you can fund your Lyft Cash with gift cards.

What Cards Does Lyft Accept?

Lyft accepts the following:

  • Credit cards
  • Debit cards from Mastercard, Discover, Visa, Lyft, etc
  • Prepaid cards
  • Digital gift cards
  • Retailer gift cards

You can’t use Google pay cards, PayPal, Apple pay, Venmo, and other commuter cards.

But, you can also pay with your bank account.

Can You Pay for Lyft with Cash?

No, you can’t pay for Lyft car rides with cash.

Wrapping Up

Getting and activating Lyft Cash is a straightforward process.

Navigate to the payments tab and add a payment method to buy Lyft Cash.

You can contact the Lyft call center if you have any issues.

With the points discussed in this guide, we can bet on you to start paying your Lyft drivers with Lyft Cash!

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