A Canadian developed banking application that is exclusive to US ride-sharing drivers will be coming to Canada in the near future. Clearbanc is a mobile app that lets Uber (and other ride-sharing drivers) operatives get paid instantly to their bank accounts, it was created by a Yukon entrepreneur.
Ben Sanders helped to co-find and develop Clearbanc, an application that works by posting Uber earnings directly into a user bank accounts. The service costs $2 per day, for every day that money is transferred into an account.
“If you drive for Uber you drive all week, you get your paycheck like most of us would every two weeks,” said Sanders, though he added that some drivers do get paid every week.
“That could still be a limiting factor, so what we have done for Clearbanc is integrated with the Uber app to be able to monitor in real time. Each of those drives that a passenger takes, we are going to understand how much the driver is going to make at the end of the week, and then we can transfer that to them on their Clearcard in advance.”
While Clearbanc is only available to Uber drivers in the United States, but Sanders says that the application could soon be available north of the border in Canada. He also added that the company plans to expand its services to the wider freelance community, beyond just ride-sharing.
Y Combinator, an American based tech fellowship that helped Airbnb get off the ground, helped Sanders and his team with a $12,000 grant and Clearbanc was developed and completed within eight weeks.