Depending on the type of account you offer through Gusto, you'll see different debits on your company’s bank account. Gusto does not have access to your company's bank statement—reach out to your bank for this.
Commuter, Health FSA, and Dependent Care FSA
These employee accounts are linked to your company’s bank account. Therefore, you will only see money move when employees use their funds. These transactions will appear as “MBI or Med-I-Bank” debits on your bank statement.
You'll receive a monthly disbursement report by email on the fifth of each month to reconcile the debits from the previous month.
HSA
Since HSAs are your team's personal bank accounts, money moves when deposits are made into their HSAs. You'll see a debit 5 days after the check date of your payroll for the total of all employee HSA deductions and employer HSA contributions. This debit will appear as "Avidia Bank:Gusto Insurance: [Company Name]."
Note: If you change your company bank account, you'll see one or two non-refundable $1 test debits under the name "MBI/Med-I-Bank." If you offer an HSA, you’ll see an additional $0.01 test debit.