Spending accounts Annual Percentage Yield (APY) as of 10/1/21 is 0.05%. Interest rates are variable subject to change at our discretion, at any time. No minimum balance required. Based on the FDIC national rate as of 9/20/21 available at
There are no fees associated with Cashout to a Gusto spending account.
Cashout to an external bank account has fees up to $5 per transaction, but may be less depending on your loan. Fees are either $5 or 36% Annual Percentage Rate (APR) of the loan amount, whichever is lower, and does not vary across the loan term. So for example, an employee that has a $500 loan with 7 days until payday would pay 36% APR of the loan amount ($3.45) since that is smaller than $5. In this scenario the total repayment amount would be $503.45. An employee that has a $500 loan with 14 days until payday would pay a $5 fee (26.07% APR) since that is smaller than 36% APR of the loan amount ($6.90). The total repayment amount would be $505.
The Gusto Cash Account spending account and debit card are issued by nbkc bank, Member FDIC.
With a Gusto spending account, your payment may be processed up to 2 days early. Timing depends on when your employer sends payment funds.