The Gusto spending account is an interest-bearing bank account designed to help employees seamlessly connect payday and banking, so they can access their hard-earned wages confidently and quickly.1
The spending account works like a traditional checking account, but better. If an employee chooses to set up direct deposit to their spending account, they can get paid up to 2 days faster.2 They can also receive incoming ACH deposits (like tax refunds), set up bill pay, link external bank accounts to transfer funds in and out, and even transfer funds instantly from their spending account to one of their personal debit cards.3 And lastly, with an APY5 of 1.00%, which is variable and subject to change, employees earn interest on the money kept in their spending account. Eligible employees may also earn referral bonuses by referring coworkers to open a Gusto Spending account. See "Refer a coworker to the Gusto Spending account" below for details.
Once an employee activates their spending card, they can also access financial wellness tools right from their Gusto account. They can create monthly budgeting goals, have transactions automatically assigned to personalized budgeting categories, and review dynamic spending insights that inform them of their spending habits over time.
Once an employee opens a spending account, they can start using their card immediately by adding it to their Apple Pay® or Google Pay™ mobile wallet.8 Physical Gusto debit cards are mailed via USPS and should be received within 10–14 business days of opening the spending account.
If your team is interested in setting up a Gusto spending account or savings goal,1 follow the steps below to turn on Cash Accounts for employees.1
Turning on Gusto Cash Accounts for your employees does not require any ongoing work, and has no impact on your payroll schedule, bookkeeping, or taxes. Employers are not responsible for anything beyond their normal day-to-day people operations.
Here’s how to activate Cash Accounts, so your team can sign up for the Gusto spending account and debit card:1
Go to the Benefits section.
Scroll to “Financial Health” and choose Wallet.
Click Turn on Cash Accounts.
The next time your employees sign in to Gusto, they’ll see a new Wallet tab in the left menu. They can follow the steps below to sign up for a Gusto spending account, or sign up to start setting aside money with savings goals.
To be eligible to enroll in Cash Accounts, employees must meet the following eligibility criteria:
Employee is an active, W-2 employee
Contractors are not eligible
Employee is a U.S. citizen or legal alien residing in the United States, Puerto Rico, or the District of Columbia
Employee is over 18 years old
Employees must be at least 19 in Alabama and Nebraska, and at least 21 in Mississippi and Puerto Rico
Employee has passed a personal information check
Employee does not have an existing Cash Account(s) with another Gusto employer
For privacy and regulatory reasons, information about an employee’s Cash Accounts eligibility can only be discussed with that employee and cannot be discussed with administrators, employers, or managers within a company.
Employees can follow the steps below to learn how the spending account works and sign up for a Gusto debit card.1
Go to the Wallet tab.
If you don’t see Wallet in your left menu, it means your employer has not turned on Cash Accounts for your company. Reach out to your employer to request that they enable Cash Accounts by following the steps above.
Click Learn more.
Select Get started.
Click Continue.
Review your personal info.
If your name, Social Security number, or date of birth are incorrect, reach out to your employer to correct any of these.
Make sure your mailing address is correct—this is where your new Gusto debit card will be mailed. Click edit if you need to change it.
Add your phone number and your current occupation.
Click Update and continue.
Review your account documents, then click the checkboxes to acknowledge that you have read and agree to them.
Click Create my account.
You’ll receive a Gusto debit card to access funds in your spending account. Your Gusto debit card will be mailed to you via USPS within 10–14 business days of opening the spending account.
In the meantime, you can link a virtual debit card to Apple Pay®or Google Pay™3 directly from the Gusto mobile app. Click into the Spending account from the mobile app, then scroll down and click Add Gusto card to Apple/Google Wallet. Once linked, you can use that for purchases with compatible merchants until you receive your physical card in the mail.
You can manage bank accounts, request a new card, access monthly statements, and more from the Wallet tab of your Gusto account or in the Gusto mobile app.
Once you receive and activate your debit card, you can access financial wellness tools right from Gusto. You can create monthly budgeting goals, have transactions automatically assigned to personalized budgeting categories, and review dynamic spending insights to track your spending habits over time.
The Gusto Spending account referral program allows eligible employees to earn a $40 referral bonus by referring coworkers to open a Spending account (up to five referrals per year). When a referred coworker meets the program requirements, both the person who referred them and the referred coworker can earn a bonus ($40 to the referrer, and $20 to the referred co-worker). See the complete Terms and Conditions.
Availability: The referral program may not be available to all employees. Availability depends on your employer's enrollment status and other eligibility factors. Gusto may limit, change, or end the program at any time without notice. If you do not see a referral option in your Gusto account, the program is not currently available to you.
How it works
Share your link: Find your unique referral link in the Gusto mobile app under the More tab, and share it with a coworker.
Your coworker opens a Spending account: They use your referral link to open a new Gusto Spending account and complete all account opening requirements.
Your coworker receives a qualifying paycheck: They must receive at least $100 in payroll direct deposits into their new Spending account within 45 days of opening it.
You earn $40: Once the qualifying deposit is confirmed and all requirements are met, you will receive $40 and your coworker will receive $20, deposited into your Gusto Spending accounts. referral bonuses are typically deposited within 10 business days.
You can earn referral bonuses for up to 5 successful referrals per calendar year.
Referrer eligibility
To share a referral link, you must:
Have an open Gusto Spending account in good standing
Be employed by an employer that uses Gusto
Be at least 18 years old
Have the referral program available on your account
Referred coworker eligibility
To be eligible for a referral bonus as a referred coworker, you must:
Be employed by an employer that uses Gusto
Have never previously applied for or held a Gusto Spending account
Open a new Gusto Spending account using the referrer's unique link
Meet all standard Gusto Spending account eligibility requirements (see "Employee eligibility" above)
Receive a qualifying direct deposit of at least $100 within 45 days of opening the account
A qualifying direct deposit is a paycheck deposit from an employer that uses Gusto for payroll. Transfers between personal accounts, peer-to-peer payments (such as PayPal, Cash App, or Venmo), trial deposits, mobile check deposits, and cash deposits do not count.
When to expect your referral bonus
Once all requirements are met, referral bonuses are typically deposited into each person's Gusto Spending account within 10 business days. Bonuses are deposited directly into your Spending account and cannot be paid by check, cash, or transfer to another account.
Important details
If a coworker receives referral links from more than one person, only the person whose link was used to open the account is eligible for a referral bonus.
You will not receive updates about whether your coworker applied, was approved, or completed the qualifying activity.
Referral rewards may be taxable. You are responsible for any applicable taxes. Gusto may report rewards to tax authorities and issue required tax forms where applicable. If you participate in other Gusto referral programs, consider the combined tax implications. Consult a tax professional with questions.
The referral program is subject to terms and conditions, available here. Gusto may modify, pause, or end the program at any time.
Eligibility
To qualify, you must have a Gusto Spending Account and set it as your payment method.4 Savings Goal accounts are not eligible for Early Pay.
How early you can get paid
How early you can receive your paycheck is determined by your employer’s payroll processing speed.2 This speed may vary from payroll to payroll, without notice. Employees cannot modify this setting.
If your employer selects a 4-day payroll processing speed, any funds auto-deposited into your Gusto Spending Account should arrive 2 business days sooner than the scheduled payday. If your employer follows any other payroll processing speed, you may receive your funds up to 1 day early, but it is not guaranteed. Ask your employer if you’d like to know what payroll processing speed they use.
The Gusto spending account does not have account or minimum balance fees, and for standard ACH transfers, there are no transfer fees or restrictions on how often funds can be withdrawn or deposited to an account.6 Eligible employees may instantly transfer funds from their spending account to another debit card, with a small fee and a transfer limit.
Overdraft fee
$0
Minimum balance fee
$0
Monthly account service fee
$0
ACH bank transfer fee
$0
ACH withdrawal limit
$5,000/day
$25,000/month
ACH deposit limit
$1,500/day
New debit card fee
$0
Debit card replacement fee
$0
Foreign transaction fee
0%*
*Gusto reimburses the 1% transaction fee that is applied to any foreign transactions
ATM fee (in-network)
Find a fee-free, in-network ATM
$0
ATM fee (out-of-network)
$2.50*
*Gusto charges a $2.50 out-of-network ATM fee in addition to any fees charged by the ATM or ATM operator.
ATM withdrawal limit
$510/day
Daily spend limit
$2,000/day
Instant Transfer fee
1.75% fee (min $0.30, max $35.00) deducted from transfer amount
Fee not applicable for transfers to savings goals
Funds are generally accessible immediately, however, network disruptions may delay availability, typically no longer than 30 minutes.
Instant Transfer withdrawal limit
$2,000/day
$15,000/month
2 withdrawals/day
New debit card fee
$0
Debit card replacement fee
$0
Foreign transaction fee
0%*
*Gusto reimburses the 1% transaction fee that is applied to any foreign transactions
ATM fee (in-network)
Find a fee-free, in-network ATM
$0
ATM fee (out-of-network)
$2.50*
*Gusto charges a $2.50 out-of-network ATM fee in addition to any fees charged by the ATM or ATM operator.
ATM withdrawal limit
$510/day
Daily card spend limit
$2,000/day
With the Gusto debit card, employees have access to cash withdrawals at over 32,000 fee-free ATMs nationwide.
To find an in-network ATM, employees can navigate to the MoneyPass network ATM locator and enter their ZIP code. To use an ATM, an employee must have their physical debit card with them—the virtual debit card in Apple Pay® or Google Pay does not provide access to funds at an ATM.
If a Gusto debit card is used at an out-of-network ATM, Gusto will charge the employee a fee of $2.50 in addition to the ATM fee charged by the third-party ATM operator.6
The daily ATM cash withdrawal limit is $510. Note: the Gusto debit card does not support ATM cash deposits.
The Gusto spending account earns interest at a rate of 1.00% APY.5 Earnings are added to the account balance at the end of each calendar month.
Monthly account statements are available to review and download from the Wallet tab of the Gusto employee dashboard or the Gusto mobile app. Monthly statements are available within 5 business days after the end of each month.
If an employee earns $10 or more of interest in a given tax year, Gusto will generate a 1099 statement to reflect the amount of interest earned. You can download it from your Gusto mobile app.
Gusto is committed to maximizing the APY offered on the Gusto spending account, but note that the APY can fluctuate as the economy changes.
Transfer limits
Gusto's spending accounts support inbound and outbound electronic fund transfers and ACH deposits, such as direct deposit payments and income tax refunds. Gusto spending accounts do not support wire transfers.
Daily transfer limits for the Gusto spending account:
ACH withdrawal limit: $5,000/day
ACH deposit limit: $1,500/day
Instant transfers withdrawal limit: $2,000/day and 2 transfers/day
ATM withdrawal limit: $510/day
Card spend limit: $2,000/day
Transfer timelines
When you request a transfer, here’s when you can expect the money to be available.
Transfers between a Gusto spending account and a Gusto savings goal: instantly.
Between a Gusto spending account and an external bank account (ACH transfer): in 3–5 business days, depending on the receiving bank.
Instant Transfers: if you’re eligible, you can move funds from your Gusto spending account to a linked, eligible debit card instantly during banking hours. Note: Some prepaid debit cards may not be supported.
Follow these steps to initiate a transfer from the spending account:
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab and choose the Spending account tab.
Choose either Deposit or Transfer.
Select the account you’d like to transfer funds to.
To use a new bank account, choose Add a different bank account.
Follow the instructions until the transfer is complete.
Cancel a standard ACH transfer
You can void an ACH transfer before the daily cut-off time at 1pm PT. This means if you initiate a transfer after the 1pm cut-off time Wednesday at 4pm PT, you have until the next day on Thursday at 1pm PT to void it.
Here’s how to void an ACH transfer:
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab and choose the bank account you initiated the transfer from.
Navigate to "Recent transactions" and pick the transfer you want to void.
Choose Cancel transaction.
You’ll only see this option if the deadline to cancel the transfer hasn’t passed. If you don’t see this option, the transfer cannot be canceled. If you need access to your funds as soon as possible, the quickest way is to let the transfer finish processing, which takes 3–5 business days. If funds landing in that account is an issue, you can ask your receiving bank if they can stop the incoming transfer, but the funds will take longer than 3–5 days to return to Gusto.
Cancel an Instant Transfer
At this time, Instant Transfers cannot be canceled once they’re initiated.
Employees can link an external bank account to their Gusto spending account to transfer funds between accounts. For security reasons, employees can link one external bank account at a time and can use up to two external bank accounts every 90 days. When applicable, we recommend employees link their external bank account as soon as possible to avoid transfer delays.
When you transfer funds between a Gusto spending account and an external bank account, it can take 3–5 business days for the funds to become available. Exact timing of availability depends on the receiving bank.
Follow these steps to link an external bank account to your Gusto spending account:
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Choose Spending account.
Select Transfer.
Choose 1–3 Biz days then select Add a different bank.
Follow the steps to securely enter your external bank account details using the Plaid connection.
Gusto partners with Plaid to verify and link employees’ external bank accounts in the Gusto mobile app.
If your bank cannot be verified through Plaid, select Having trouble connecting your bank account?. Follow the steps to manually verify your account. In 1–3 business days, you will see a $0.01 transaction show up in the non-Gusto bank account you're attempting to link. From your non-Gusto bank account, copy the deposit's 3-letter code. Return to the Spending account section of the Gusto mobile app and enter the code to finish manually verifying your bank.
Troubleshoot adding an external linked account
Most external bank accounts can be linked to Gusto Wallet to transfer funds, however, some financial institutions are not supported and cannot be linked to your Gusto Wallet account to perform ACH transfers.
If you're having issues linking your external account, or your account isn't currently supported, try logging into the external account and transferring the money from there. To do this, you may need your account number and routing number.
If these options do not resolve the issue, try using a different external bank account to complete your transfer. Note that you can only link up to two external bank accounts every 90 days.
If eligible, you can instantly transfer funds from your Gusto spending account to your personal debit card. You can link up to 2 debit cards at a time. Funds transfer from your Gusto spending account to a linked, eligible debit card instantly (some prepaid debit cards may not be supported).
Funds are generally accessible right away if you request the transfer during banking hours. If network disruptions delay availability, funds are typically still available within 30 minutes.
Eligible employees can follow these steps to link a debit card to a Gusto spending account for Instant Transfers:
Add a linked debit card
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Choose the Spending account.
Select Transfer.
Under “Where should we send it?” choose Link your own debit card.
Enter your card information. (Note: Some prepaid debit cards may not be supported for Instant Transfers).
Select Add debit card.
Remove a linked debit card
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Choose the Spending account.
Select Transfer.
Under “Where should we send it?” choose Manage bank accounts.
Select the debit card you’d like to remove.
Choose Remove debit card.
Employees can find the routing and account numbers for their Gusto spending account in the Gusto mobile app:
Open your Gusto mobile app.
Go to the Wallet tab.
Click Spending account.
Under "Account info," click Account details.
Gusto spending accounts support inbound and outbound electronic fund transfers and ACH deposits, such as direct deposit payments and income tax refunds. Gusto spending accounts do not support wire transfers.
Add your card to your Apple Pay® or Google Pay™ wallet
Once you open a spending account, you can start using the card immediately by adding it to Apple Pay® or Google Pay™.8
Follow the steps below to add a first-time debit card to your mobile wallet.
Open your Gusto mobile app.
Go to the Wallet tab.
Select Spending Account.
Under the "More" headline, choose Add Gusto card to Apple Pay® or Google Pay™.
Follow the guided prompts to finish adding your card.
Once you add the card to Apple Pay® or Google Pay™,8 you can use it wherever contactless payment is accepted— the physical debit card doesn’t need to be present. The only exception is ATM withdrawals,6 where you do need to present the physical debit card.
Activate a physical card
Unlike the virtual card that can be added to Apple Pay® or Google Pay,8 you must activate the physical debit card before you can start using it.
When you first sign up for a spending account or order a replacement card, the debit card will arrive at your mailing address via USPS within 10–14 business days. Once you receive it, follow these steps to activate the card and set the PIN:
Sign in to Gusto or open your Gusto mobile app.
Select Spending account.
Choose Activate card.
Enter the last 4 digits of the card.
Choose your 4-digit PIN.
Click Activate card.
A PIN only needs to be set once per card. If you set a PIN while setting up the card in your mobile wallet, you do not need to set a PIN again.
Reset the PIN
Follow these steps to change or reset the PIN:
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Click Spending account.
Under "Account info," click Account details.
Choose Reset PIN.
PIN resets can take up to 24 hours to take effect.
Replace a lost or stolen card
If a debit card is lost or stolen, follow the steps below to request a new one. The card will be deactivated immediately—new debit card purchases or ATM withdrawals will be blocked.
To dispute a transaction you believe is fraudulent, head to the "Dispute a transaction" section below.
Sign in to Gusto or open your Gusto mobile app.
Click Spending account.
Click Account details.
Select Request a new card.
Verify your mailing address and click Continue.
Click Done.
Cards typically arrive within 7–10 business days after reordering.
You can start using your card immediately through Apple Pay® or Google Pay™.
Lock a misplaced card
If you've misplaced your card but don't want to order a replacement yet, you can lock and unlock it anytime from the Wallet section of your Gusto account. Locking the card immediately prevents new debit card purchases and ATM withdrawals.
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Select Spending Account.
Scroll down and select Account details.
Click the toggle to lock or unlock the card.
Replace a damaged card
If a Gusto debit card is damaged or defective, employees can order a replacement card at no cost.
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Choose Request a new card.
Verify your mailing address and click Continue.
Click Done.
Cards typically arrive within 7–10 business days after reordering.
You can start using your card immediately through Apple Pay® or Google Pay™.
Replace an expiring or expired card
If a Gusto debit card is expiring soon (within the next 2 months) or has expired, employees can order a replacement card at no cost.
Sign in to Gusto or open your Gusto mobile app.
Go to the Wallet tab.
Select Request a new card.
Choose My card has expired or is expiring soon.
Verify your mailing address and click Continue.
Click Done.
Cards typically arrive within 7–10 business days after reordering.
You can start using your card immediately through Apple Pay® or Google Pay™.
Replace a card locked for fraud
If a Gusto debit card is locked due to fraud, a replacement card can be ordered in the Wallet section of your Gusto account.
Sign in to Gusto or open your Gust mobile app.
Go to the Wallet tab.
Select Request a new card.
Follow the prompts to verify your mailing address and select Confirm.
Select Done.
Cards typically arrive within 7–10 business days after reordering.
You can start using your card immediately through Apple Pay® or Google Pay™ by setting it up through the Gusto mobile app. Follow the steps at the beginning of this section, under "Add your card to your Apple Pay® or Google Pay™ wallet."
If you do not recognize a transaction on your account, head to the "Dispute a transaction" section below for next steps.
To update the billing address linked to your Gusto debit card, update your home address in the mobile app. Your Cash Account's billing address will be updated within 2 business days.
If your account is less than 30 days old, or if more than 2 business days have passed since you updated your address in the app but the change is still not reflected:
You'll need a photo or PDF of a document that shows your full name and current address. The document must show all four corners if it’s a photo. It must be one of these documents:
W-2 form (from the last year)
Utility bill (water, gas, sewage, Wi-Fi, cell phone, cable, or electric — dated within the last 60 days)
Current car registration
Paystub (within the last 60 days)
Insurance bill or policy (current or dated within 60 days)
Bank statement (within the last 60 days)
Lease agreement (current, signed, dated, and not expired)
Government-issued ID
Email [email protected] to request your address update and let us know you submitted the document.
The Gusto spending account and debit card can be managed on the go from the Gusto mobile app, available in the App Store® and Google Play® store.7 Employees can review payday insights, check their account balances, review transactions, initiate a transfer, route funds using the paycheck splitter, and more.
If you do not recognize a transaction on your account, send us the transaction details so we can investigate. A transaction must be settled, not pending, before you can dispute it.
Send an email to [email protected]. Copy and paste this template into your email and fill it out:
If you’re contacting us from an email not on file with your Gusto account:
Provide your full name:
The last four digits of your account number, or the email on file with your account:
Why you’re disputing the transaction:
Date(s) of the transaction(s) being disputed:
Dollar amount(s) of the transaction(s) being disputed:
Do you currently have possession of your debit card? Yes/No
If the answer is no, include:
The date you discovered it was missing:
Your mailing address for a replacement card:
How the error occurred. Examples:
I did not authorize purchases (this includes theft of the debit card).
I purchased a product but was charged multiple times for it.
I authorized a transaction but was charged the incorrect amount.
I authorized a transaction but was not provided the goods or services.
I made a return but was never refunded.
I made a payment by other means and was also charged on my debit card.
I authorized a transaction but I am disputing due to the quality of the goods/services.
If you reported that the transaction was fraudulent, your card will immediately be locked. We'll send a new card to your mailing address.
You will receive a status email 6 business days after you submit the dispute. If approved, credit may be granted to your account in the amount you're disputing. Additional time may be required to complete the investigation and make a final determination on the dispute claim.
If you are eligible to receive a 1099-INT form, your form will be available to download and print from your Gusto account by January 31st of the following year.
You’ll be issued a 1099-INT form based on the interest you earned from your Gusto Spending account and/or Savings goals1 or any other account you may have with nbkc bank throughout the tax year. If you earned $10 or more in interest from these accounts throughout the tax year, you will be issued a 1099-INT form. Additionally, referral bonuses earned through the Gusto Spending account referral program may be subject to tax reporting. Gusto may issue required tax forms for referral bonuses where applicable. If you participate in other Gusto referral programs, consider the combined tax implications. Consult a tax professional with questions.
When 1099-INT forms are ready, you will receive an email from Gusto to notify you. Once generated, here’s where to find the form:
Sign in to Gusto in a web browser.
Head to the Wallet tab.
Go to your Spending account or Savings goal.
Choose Account Details.
Select Statements & tax documents.
Click on the 1099-INT to view or download it.
If you have any questions or need help accessing your form, reach out to us at [email protected].
Employees with a Gusto spending account can maintain access to the account and card even if they’re no longer paid through Gusto. As long as the spending account is not closed and remains in good standing, the employee can continue to access their Gusto Wallet account(s) using the mobile app or their Gusto profile.
Employees can follow these steps to close a Gusto spending account:
First bring the account balance to $0 by transferring any remaining funds to another Gusto Wallet bank account or to an external bank account.
To make a transfer, follow the steps in Add your bank account or card for transfer section above.
Email our team at [email protected] and request to close the account.
1. The Gusto Cash Account, savings goals, spending account, and debit card program is issued by nbkc bank, Member FDIC. The Gusto Debit Card is issued by nbkc bank pursuant to a license from Visa U.S.A. Inc. Gusto is a payroll services company, not a bank.
2. Early access to direct deposit funds depends on the timing of payer’s submission of deposits. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
3. Funds are generally accessible immediately, however, network disruptions may delay availability, typically no longer than 30 minutes.
4. A Gusto Spending Account is required for early access to your paycheck, terms and conditions apply. The Gusto Cash Account (savings goals and spending account) are issued by nbkc bank, Member FDIC. Gusto is a payroll services company, not a bank. Banking services provided by nbkc bank, Member FDIC
5. Cash Account Annual Percentage Yield (APY) as of 1/26/2023 is 1.00%. APY is variable and subject to change at our discretion, without prior notice. No minimum balance required. Based on the FDIC savings rate as of 1/17/2023 available at fdic.gov/regulations/resources/rates/.
6. There are no account or overdraft fees associated with the Gusto Cash Account spending account. The Gusto debit card can be used for free at over 37,000 ATMs in the MoneyPass Network. Gusto charges $2.50 when you use an out-of-network ATM in addition to any fees charged by the ATM or ATM operator. Review the terms and conditions carefully.
7. App Store is a trademark of Apple Inc., registered in the U.S. and other countries. Google Play is a trademark of Google LLC.
8. Apple, Apple Pay, the Apple Logo, iPhone and App Store are registered trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay™, Google Play and the Google Play logo are trademarks of Google LLC.