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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 half of their estimated paycheck, with a maximum of $1,000. Then, the loan is automatically repaid through their regular direct deposit paycheck.

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

Gusto evaluates each company to determine if they meet all eligibility criteria. If Gusto determines that your company is eligible to offer Cashout, the feature will be added to your account automatically. You’ll receive an email notification 14 days before the feature is turned on and Cashout is made available to all eligible employees.

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 at the bottom of the page.
  3. Deactivate the Gusto Cashout benefit for your employees.

All employees will receive an email notification that Cashout has been turned off. If you wish to turn on Cashout in the future, navigate back to the Cashout Benefit tile, and select Reactivate Cashout

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

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