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Gusto Cashout employee fees

When employees use Cashout, they pay a low, flat fee of 1%* (with a maximum fee of $10 per Cashout).

  • Employees will never pay more than the maximum fee of $10, and never more than the fee shown at the time of the cash out.
  • The fee does not change and does not grow.

Cashout is a less expensive way to access funds in an emergency. For example, borrowing $400 with Cashout costs $4, which is less expensive than overdrawing a bank account ($35), paying a credit card late ($36), or taking out a payday loan ($60). In addition, Gusto Cashout never triggers any late fees or penalties.*

Gusto Cashout includes features ensuring employees will always receive a paycheck on payday. Employees can cash out up to half of their estimated paycheck, with a maximum of $1,000. Additionally, Cashouts are limited to twice a month.

As a result, our research shows that Gusto Cashout helps support employees’ financial health. 85% of employees said Cashout prevented them from late payments on bills, and 73% said Cashout prevented a bank overdraft. Most importantly, 89% of Cashout users reported feeling less financial stress.**

For American workers, covering surprise expenses like car breakdowns and medical visits is a common concern, even for high-earners. Gusto Cashout provides a low-cost way to help workers control their finances during these unpredictable moments.

*APR varies based on the term of the loan. For a loan amount of $400 over an 8-day term until the next payday, the APR would be 45.63%, and the repayment amount would be $404. Based on a typical loan amount, Cashout is a less costly alternative to credit card late fees, overdraft fees, and payday loans. U.S. News, 2019 Credit Card Fee Study: What's Normal and What's Not? 2019; Center for Responsible Lending, Unfair Market: The State of High-Cost Overdraft Practices in 2017, 2018; Consumer Financial Protection Bureau, What is a payday loan? 2017.

**Survey data based on a Gusto study of more than 600 users of Cashout in 2019.

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