Michael Torres

CPA, Former IRS Revenue Agent

Updated: January 18, 2026

Payments

Direct Deposit

In This Article

Definition

Electronic transfer of earnings directly to bank account without paper check.

Related Terms

Feature allowing gig workers to cash out earnings immediately for a small fee rather than waiting for weekly payout.

Standard free payment schedule for most gig platforms, typically depositing earnings weekly.

FAQs

How do I set up direct deposit?

Enter your bank routing and account number in the app payment settings.

Similar Terms

Instant Pay

Feature allowing gig workers to cash out earnings immediately for a small fee rather than waiting for weekly payout.

Weekly Payout

Standard free payment schedule for most gig platforms, typically depositing earnings weekly.

Instant Pay Fee

Fee charged by platforms for immediate access to earnings, typically $0.50-$2.00 per transfer.

Payment Processing

System handling the transfer of funds from customer payment to worker earnings, involving multiple parties.

Fact-Checked Expert Reviewed Regularly Updated

Last updated: January 18, 2026

Reviewed by GigFinance Team, Gig Economy & Finance Experts

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Our team includes CPAs, former gig workers, and financial experts who personally test platforms and verify earnings claims. We follow strict editorial guidelines to ensure accuracy and objectivity.

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Important Disclaimer: This content is for informational purposes only and should not be considered tax, legal, or financial advice. Consult a qualified professional (CPA, tax attorney, or financial advisor) for advice specific to your situation.