So I used Instant Pay for Uber on Sunday Night to cash out $404 which were my earnings from Thursday through Sunday. My $56 from Lyft cashed out just fine. As of Monday morning, $304 of my money was not showing up in my bank account but was displaying in my account history as deposited.
I contacted my bank, and they said that the first $100 was processed but that it appeared as though the sender did not have enough money available to cover the full deposit. The bank processed the amount to the nearest 100 dollar amount that would process and that they would retry the deposit each day until the full amount would process.
The full amount processed this morning, which just so happens to be the same time when any remaining funds from Uber would be directly deposited anyways, but it did not show up as a separate line item which means that no additional deposit was made and that my bank was likely telling the truth and was repeatedly attempting to re-process the original transaction until it cleared in full.
This is concerning because it involves money that I earned. I can only think of two things. 1. Insolvency, creating an inability to pay out funds due to excessive spending (potentially including lawsuits) and debt. 2. Uber had some kind of accounting/processing error that caused a severe delay in the processing of 3/4 of my money.
Neither concept makes much sense to me but Uber’s lack of a response when I inquired about this issue on Monday evening doesn’t make much sense either; almost like they are ignoring it or don’t wish I acknowledge its occurrence. Lastly, what is the point of paying $0.50 to cash out via instant pay if you don’t receive 3/4 of your money until the regular direct deposit day for the prior week anyways?