Towards the end of October 2021, Moves will be making improvements to help our members better understand and track towards their Business Cash Advance eligibility.
Our aim is to provide gig workers with greater ease and flexibility to increase their potential Cash Advance, without ever having the hassle of completing credit checks or stressful bank visits.
Moving forward, all supported gig income deposits that fund your Moves Spending Account within a given four-week period - including direct deposits and instant payouts - will count towards your Cash Advance eligibility!
Example #1: You have deposited approximately $1,000 over the last four weeks into your Moves Spending Account through various gigs such as Uber and Doordash. In this case, you’d be eligible for a $250 Cash Advance!
Example #2: You had a solid three weeks of work, earning roughly $2,000 total. Unfortunately, you fell ill last week and couldn’t work. That’s okay! Given that Moves calculates your Cash Advance over a four-week rolling period, you’re still eligible for a $500 Cash Advance!
As long as you deposit an average of $100/week for four-weeks, you'll be able to meet the minimum requirement of accessing a Cash Advance of $100.
What does this mean for you?
To maintain and maximize your Business Cash Advance eligibility, we strongly recommend switching your direct deposits and instant payouts to Moves as soon as possible! In doing so, Moves can help you properly track towards your potential Cash Advance and you’ll never have to worry about facing an interruption to your Moves experience.
By remaining transparent, we improve the performance of Moves for our members to reap the benefits of their gig work and help them stay ahead.
And with all your gig earnings tracked in one place, you’ll have the ability to better manage your business. No more guesswork necessary - you’ll know exactly how you are moving towards your financial goals.
All supported gig platforms that count towards your eligibility:
- Uber/Uber Eats
- Amazon Flex