Knowing how you can transfer money between DasherDirect and different bank accounts is very important.
Having a DasherDirect account is an amazing way to use your DoorDash earnings straight away. Here, we have put together a guide on how you can transfer money from your DasherDirect to your bank account.
What is DasherDirect?
Dasher Direct is a prepaid bank card offered by the online food ordering company DoorDash to its delivery partners, who are referred to as ‘Dashers’.
The service is a collaboration between DoorDash, Visa and Payfare, which allows Dashers to access the earnings straight away without the hassle of cashing out and making transfers to bank accounts.
The signing up process is very straightforward and you can apply for one via the DoorDash app. All you need to provide is your name, address, social security number and a copy of your driver’s license.
Once you are approved, you can access your DasherDirect account via the DasherDirect application, which you can download via the Apple App Store and Google Play. DasherDirect is powered by Payfare, a digital banking app.
Users have commented on how easy it is to use the application. The process of applying and being approved usually takes around 3 business days.
You will have the option to use your money in your DasherDirect account via both a physical card and a virtual one. The Dasher Direct Virtual Card allows you to access your funds even when your physical card hasn’t arrived yet.
Once you receive your physical card, you can activate it via the DasherDirect app.
But why have a DasherDirect account in the first place instead of using your normal bank account in order to receive your earnings?
The benefits of a DasherDirect account
Using a DasherDirect prepaid bank card has a number of perks which makes it an attractive alternative to transferring your money to a bank account.
For a start, you will be able to access your earnings instantly at no added costs. Without a DasherDirect account, you would have to wait a couple of days before the money is transferred to your bank account. This allows you to spend the money that you have earned straight away after your shift.
It is important to bear in mind that DasherDirect has a daily cap of $1000 for its pay-outs. If you earn more than that amount, you will have access to your remaining funds the following day.
Dashers also get a 2% discount on gas if they buy it with their DasherDirect card. This excellent news for delivery partners who usually use motor vehicles to do their shifts. In the long term, having a DahserDirect account will pay off and will help Dashers save a lot of money.
The DasherDirect app functions like any other banking app. You can see the purchases you have made and can also transfer money to friends and family. It even shows the location of free ATMs that do not have withdrawal fees.
As it is not technically a bank account, you do not have to have a minimum balance held on your card.
Just like any other similar service, it is important to bear in mind a couple of fees. For example, there is a 3% foreign transaction fee and you will be charged $2.50 after 12 months of inactivity.
However, if you have accumulated a lot of money on your DasherDirect, you may wish to transfer your earnings to your personal bank account. This how you do it:
Moving money to your bank account
It is very easy to move money from your Dasher Direct to your bank account by following these simple steps:
- When you are on the Dasher Direct main menu, click on “More”.
- On the following screen click on “Move Money”.
- On the next page you will need to select “Send money to someone”. Here you can enter your own bank account details or anyone else’s who you would like to transfer the money to.
And that is it! Your money should arrive in your bank account in 1 to 2 days. Just like with an ordinary bank account, you can transfer money to anyone, not just to your personal bank account.
DasherDirect offers a number of benefits to its users and transferring money from it to other bank accounts has never been easier.