1 Jul 2024
As we update the Terms and Conditions, we’re also introducing Bolt Boost — an initiative to improve drivers’ financial security.
From 1 August, you’ll have access to a Journey Fee Supplement and a Holiday Pay Supplement — both aimed at enhancing your driving experience and potential earnings. Read on to learn more.
We understand that fair earnings for every trip are essential for you. That’s why if your earnings for completed journeys (excluding tips) is below the equivalent of the National Living Wage (NLW), we’ll cover the difference with weekly balance top-ups.
Taking a well-deserved break from driving shouldn’t mean worrying about your finances. That’s why after deducting the vehicle expenses, tolls, and other charges, we’ll contribute 12.07% of your fees (excluding tips) to a holiday fund at the end of each week.
Bolt Boost and our optional pension programme will help you enjoy the flexibility and support you deserve as our trusted and valued partner. We’re committed to ensuring you can drive confidently without worrying about your earnings, holidays, and financial future.
What is the current National Living Wage in the UK?
The National Living Wage (NLW) varies based on age and is updated annually in April. Currently, the NLW is £11.44 per hour for drivers aged 21 and over. You can learn more about it on the UK government website.
How is the Journey Fee Supplement calculated?
First, we calculate the weekly hours you drove to pick up passengers and take them to their destinations. Then, we multiply this number of hours by the NLW. If the amount we calculate exceeds your earnings, we’ll cover the difference by topping up your balance.
How often is the holiday fund topped up?
We calculate an estimated Holiday Pay Supplement after every trip. There will be another weekly calculation and if the estimated supplement(s) provided throughout the week is short then there will be an additional top up your holiday fund at the beginning of the week.
This means you’ll see the updated information about your holiday fund in the Earnings section of the Bolt Driver app throughout the week.
Where and when can I see the actual information on my Journey Fee and Holiday Pay Supplements?
At the beginning of each week in the Earnings section of the Bolt Driver app, you’ll see updated information based on your earnings from your previous week’s earnings.
Can I receive my holiday fund money or Journey Fee Supplement with an early cashout?
The estimated Holiday Pay Supplement calculated after each trip will be eligible for early cash out alongside the usual Journey Fee.
The Journey Fee Supplement is calculated weekly on Monday and then paid out the following week with the regular payouts, which are typically processed Mondays.
How do you deal with refunds?
We’ll consider the refunds made within the same week during the calculation. If the refund occurs in the following week, the adjustment will be reflected in the next week’s earnings but will not affect the previous week’s calculations.
Holiday Pay Supplement will also be taken into consideration as a Refund will negatively affect your balance.
