Spending Account
This Gusto account earns 1% APY, can receive external ACH deposits, and comes with instant transfers to Savings Goals.
What is the Spending Account?
This feature lets customers set aside money for things like emergencies, travel, or personal savings targets.
What are Savings goals?
A standard ACH transfer from the Spending Account to an external bank typically takes this long.
What is 3-5 biz days?
A customer wants “money before payday.” You tell them this Gusto feature can give them up to $200 of their earned wages early.
What is On-Demand Pay?
A customer says, “Where is all my money??” Before you panic, you remind them to check this tab in the Gusto app where all Wallet features live.
What is the Wallet tab?
This Gusto card becomes instantly available virtually while the physical version arrives in 10–14 business days.
What is the Spending Account debit card?
This is the maximum number of Savings Goals a user can have at one time.
What is five?
Instant Transfers use this partner network and charge a 1.75% fee.
What is tabapay?
A customer tries to use On-Demand Pay but doesn’t see the button in their app. The first thing you check is whether they have this type of Gusto account.
What is a Spending Account?
A customer says "where do i lock my card?"
What is Account Details
This is the daily limit for purchases using the Gusto debit card.
What is $2,000/day?
Funds moved between Savings Goals and the Spending Account move at this speed.
What is Instantly?
This type of transfer cannot be canceled once initiated.
What is an Instant Transfer?
A customer says, “Do I need good credit to use On-Demand Pay?” You reassure them that ODP has no credit check and no interest because it’s based only on this.
What are earned wages?
A customer asks "how many Spending Accounts can I have?"
What is 1?
This is the maximum daily ATM withdrawal limit on the Gusto debit card.
What is $510/day?
The daily limit for Instant Transfers is this amount.
What is $2,000/day?
A customer asks, “When do I pay it back?” You explain that ODP repayments are automatically taken from this.
What is their next paycheck?
A customer asks how long does a 1-3 Biz day transfer take?
Even without receiving a physical debit card, customers gain immediate access to their Spending Account through this feature.
What is the virtual debit card?
This is the third planet from the sun
Before closing a Spending or Savings account, the customer must do this with any remaining funds.
What is transfer them out to another bank?
A customer says, “Why can’t I access On-Demand Pay anymore?” You check their account and see they no longer have one of these active Gusto features, which ODP depends on.
What is a Spending Account?
A customer asks why their balance is earning more interest than usual. You remind them it’s because this feature boosts both Spending and Savings to 2% APY.
What is Gusto Wallet Premium