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Cashout employer overview

Cashout is a way for your team to cover unexpected expenses before payday. As an employer, there’s no extra cost, no extra work, and you aren’t responsible for amounts that employees cash out.

With Cashout*, employees can cash out up to 40% of their estimated paycheck, with a maximum of $500. Then, the loan is automatically repaid through their regular direct deposit paycheck. If an employee has a Gusto spending account and debit card, they have the option to use Instant Cashout to Cashout instantly to their spending account. If an employee requests a Cashout to an external bank account, the funds will typically be deposited in one to three business days.

Gusto’s Cashout benefit makes critical moments, such as paying unexpected bills, emergency costs, and stressful situations, more manageable at no extra cost to you or your employees.

Offering Cashout to your employees

If you’re interested in offering Cashout to your employees, you can check your company’s eligibility and activate Cashout by visiting the Benefits section of your Gusto account. 

Once Cashout is activated, we’ll notify your eligible employees via email the following business day.

To enable the option for employees to Cashout instantly, you can activate Cash Accounts in the Benefits section of your Gusto account. Eligible employees can then choose to open a Gusto spending account and debit card and go to Cashout instantly.  

Employer responsibility

You, as the employer, are not responsible for anything beyond your normal day-to-day operations. There are no adjustments required in payroll for Cashouts taken by your employees. 

Opting out of Cashout

If you’d like to turn off the Cashout benefit for employees, you can do so by following the steps below. 

  1. Click the Benefits tab.
  2. Click the Cashout tile.
  3. Deactivate the Gusto Cashout benefit for your employees.

All employees will receive an email notification that Cashout has been turned off. If you’d like to reactivate Cashout in the future, please reach out to cashout-support@gusto.com to request access.

*The Cashout program is issued by Sunrise Banks, N.A., Member FDIC 

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