If you’re a driver for Shipt, then you know that getting paid is a top priority.
You may not know, however, that Shipt Instant pay, an instant payout option, provides more payment flexibility to its drivers.
If you’re ever worried about seeing your bank funds dwindle, there’s no need to feel anxiety anymore.
Not sure how to use Instant Pay yet?
In this article, we’ll provide information on how to use this feature to get your money faster.
- What Is Shipt Instant Pay?
- How Does Shipt Instant Pay Work?
- How Fast Is Instant Pay?
- How Often Can You Withdraw Through Instant Pay?
- What Company Processes Shipt Instant Pay?
- Are There Fees for Shipt Instant Pay?
- How to Sign Up for Shipt Instant Pay
- Wrapping Up
What Is Shipt Instant Pay?
Instant Pay is a Shipt shopper pay option that allows you to withdraw your earnings immediately after completing a delivery.
The feature is available to all Shipt drivers.
There is no sign-up required.
You can start using Instant Pay right away.
How Does Shipt Instant Pay Work?
Shipt Instant Pay works well when you need quick access to cash.
When you complete a delivery, the funds for that delivery get deposited into your Shipt pay area.
You can then withdraw those funds using the app or a linked bank account.
There’s no minimum withdrawal amount, and you can withdraw your funds at any time.
A Quick Example
For example, let’s say you’re a little short on money on the weekend.
You can get up early on a Saturday morning and help Shipt customers get early deliveries to their homes.
Take the time to fulfill your role as a personal shopper for a few hours.
Rack up some earnings inside the Shipt app.
Before you know it, you might see the cash amount you need to overcome any money shortage issues.
Go into the app and tap on the Shipt Instant Pay feature.
Instantly, you’ll see the money leave the Shipt app and arrive in your bank account.
Qualifying for Shipt Instant Pay
Shipt doesn’t let you use Instant Pay as a brand new driver.
To qualify for it, you must wait to get one weekly payout under the normal direct deposit feature.
Shipt drivers who don’t use Instant Pay always get paid once per week via a direct transfer to their bank accounts.
How Fast Is Instant Pay?
Instant Pay is quite fast.
Push the button to activate the feature and the funds instantly transfer from your Shipt app into your bank account.
Can You Use Instant Pay Right After Earning?
Yes, you can use Instant Pay right after earning money on a trip.
The funds for your latest delivery will show up inside your account as soon as you complete a delivery.
How Quickly Does the Money Show Up in Your Account?
While Instant Pay is an “instant” feature, it can sometimes take up to 30 minutes for the funds to leave the Shipt app.
Usually, however, you’ll see the funds arrive in our bank account in less than one or two minutes.
How Often Can You Withdraw Through Instant Pay?
You can withdraw using Instant Pay once per day.
Can You Get Instant Pay More Than Once a Day?
No, you can’t use Instant Pay more than once per day.
By the way, whatever funds remain in your pay cycle will arrive in your bank account each Friday.
These are the two options provided by Shipt for payment.
You can wait for the once per week bank transfer or take out your funds once per day with Instant Pay.
What Company Processes Shipt Instant Pay?
Shipt partnered with payment processor Stripe to power its Instant Pay feature.
To use Instant Pay, you must agree to the terms and conditions for the Stripe Connect option.
Wha is Stripe?
Stripe is a payment processing company that helps businesses of all sizes accept and process payments.
The company partners with many of the world’s leading apps, including Twitter, Lyft, and Shopify.
Twitter uses it to power its payments, Lyft uses it to process driver earnings, and Shopify uses it to power its checkout.
Shipt needed a payments partner that would help offer new options for its customers and shoppers.
With growth happening quickly at Shipt, they wanted a system to help scale profits easily.
Shipt selected Stripe as its exclusive payment processor.
The choice helped them scale into new markets while still offering customers and drivers all the features they need for success.
Are There Fees for Shipt Instant Pay?
Shipt doesn’t list the fee that delivery drivers pay when using Instant Pay.
However, we can see that Stripe charges 1% to use its Instant Payout feature.
Since Shipt uses Stripe’s Instant Payout feature to power the Shipt app Instant Pay option, it’s safe to say you’ll discover a 1% charge each time you take a daily Shipt Instant Pay withdrawal.
How to Sign Up for Shipt Instant Pay
If you’re a Shipt driver and want to start using Instant Pay, there are a few simple steps you need to follow.
Step by Step Instructions
First, open the app and tap on the menu bar in the top left-hand corner of your screen.
Scroll down and select “Driver Settings.”
From there, scroll down again until you see the “Instant Pay” option.
Tap on it.
The app will then take you to a screen that will ask you to agree to the Stripe Connect terms and conditions.
The terms and conditions page for Stripe covers the following information.
- Recipient Info
- Stripe Connected Account Agreement
- Relationship to Other Agreements
- Stripe Connect — Your Stripe Account
- Your Obligations
- Relationship to Connect Platforms
- Limitations on Stripe’s Liability
- Other General Legal Terms
Like most terms and conditions pages for all websites, the Stripe terms and conditions page covers a lot of ground.
However, some key points that are important for Shipt drivers to understand include the following.
- You must be 18 years or older to use Stripe.
- You need to provide your correct name and address when signing up for a Stripe account.
- If you change your name or address, you must update this information in your Stripe account.
- You are responsible for any taxes that may apply to your income earned through Stripe.
- You must comply with all applicable laws and regulations in connection with your use of Stripe.
- You can’t use Stripe in connection with any activity that is illegal or prohibited by the Stripe Connect Agreement.
- You aren’t allowed to use Stripe to process payments on behalf of any other person or entity.
You should also pay attention to the privacy information in the Stripe agreement.
It’s always good to understand what you’re agreeing to when using an app such as Stripe or Shipt.
Or, for that matter, any other payment processor, delivery app, or rideshare app.
After you’ve read and agreed to all the conditions, hit “Continue.”
You’ll then enter your bank account information.
Once you’ve done that, tap on the “Confirm” button and you’re all set.
Now that you know how to use Instant Pay, you can get your funds immediately after earning them.
The next time you complete a delivery trip, the funds for your latest delivery will show up inside your account.
Why don’t you go ahead and give it a try today?