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Gusto Wallet review

Gusto users can get near-instant access to earnings with this new checking and savings account combo.

Gusto Wallet is a digital bank account and financial wellness app for employees paid through Gusto. It offers an interest-bearing cash account that can divert a percentage of your paycheck into multiple savings goals. But you can only open an account if your employer pays you through Gusto.

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$0 per month





Fee$0 per month
ATMsover 32,000 MoneyPass ATMs nationwide
ATM transaction fee$0
ATM fee rebatesGusto reimburses the 1% transaction fee that is applied to any foreign transactions
Out-of-network ATM fee$2.50
Foreign transaction fee1%
Overdraft fee$0

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Gusto Wallet is an all-in-one bank account that lets you automatically split your paycheck into five savings goals, a spend account and external bank accounts each time you get paid. You’ll also earn 0.22% APY on your total balance and enjoy no monthly fees.

If you qualify, you may also get access to Gusto Cashout — an instant paycheck advance for those times when you need cash to cover an unexpected expense.

The major downside is that if your employer doesn’t use Gusto as a payment processor, you can’t sign up for Gusto Wallet.

What are the benefits of Gusto Wallet?

Gusto Wallet comes with standard features like no monthly fees, a tap-to-pay debit card and instant transfers to savings, as well as these perks:
  • Save automatically. Create up to five savings goals and have your paycheck automatically split between these five goals and your spending account each time you get paid.
  • Earns interest. You’ll earn 0.22% interest on your total balance — a competitive rate that’s higher than the national average.
  • Online check statements. Because Gusto Wallet integrates with your payroll platform, you’ll get a breakdown of each paycheck including hours, taxes, deductions and more, every payday.
  • No hidden fees. Gusto Wallet doesn’t charge fees for overdrafts, monthly service or debit card replacements. And it reimburses its 1% foreign transaction fee, so that’s technically free too.
  • Gusto Cashout feature. If you need cash in a pinch, you can get an instant loan that covers you until your next payday. But you and your employer will need to meet certain requirements to access this feature.

Who’s eligible to use Gusto Cashout?

Employers must meet these requirements to get access to Gusto Cashout for their employees:
  • Live in a state other than Arizona, Illinois, Maine, Massachusetts, Nevada, New Jersey, North Dakota, Pennsylvania, Vermont and West Virginia.
  • At least two active employees.
  • Processed at least three payrolls with Gusto.
Employees must meet these requirements to use Gusto Cashout:
  • Active W2 employee.
  • At least 18 years old.
  • Lives in a state other than Arizona, Massachusetts, Maine, West Virginia, Illinois, Nevada, New Jersey, North Dakota, Pennsylvania and Vermont.
  • Employed for at least 30 days.
  • Paid through direct deposit.
  • Verified personal information.

What should I look out for?

Before opening a Gusto Wallet account, look out for the following:

  • Limited eligibility requirements. Gusto Wallet is only open to employees who receive their paycheck from a Gusto employer account.
  • Not a fully-integrated account. Although Gusto Wallet shows a breakdown of each paycheck’s deductions and taxes, it isn’t fully integrated with the Gusto payroll platform. You can’t clock in from the app or track your vacation and sick time.

If you don’t qualify for Gusto Wallet, explore interest-bearing checking accounts with attractive features and fewer restrictions.

Gusto’s ATM network and fees

Gusto Wallet comes with a Visa debit card that gives you free access to over 32,000 MoneyPass ATMs nationwide. You’ll pay $2.50 if you use a non-network ATM, plus any fees the ATM operator charges. Gusto Wallet‘s non-network ATM fee is average compared to other banks.

If you lose your debit card, you can get a free replacement at any time.

Compare Gusto Wallet with other checking accounts

Use this interactive table to see how Gusto Wallet compares to other checking accounts.

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
55,000 free in-network ATMs
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
SoFi Money
Finder Rating: 4.6 / 5: ★★★★★
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
Chime Spending account
Finder Rating: 4.7 / 5: ★★★★★
Chime Spending account
60,000+ fee-free ATMs
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Finder Rating: 4.8 / 5: ★★★★★
1.20% on balances of $0 to $50,000
0.25% on balances of $50,000.01+
more than 85,000 ATMs nationwide
OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
Finder Rating: 4.7 / 5: ★★★★★
32,000 fee-free ATMs nationwide
Freelancers get paid up to two days early and can automatically set aside money for taxes with the Lili digital bank account. Get up to 10 referral rewards, or $1000.
Finder Rating: 3.7 / 5: ★★★★★
1.00% on balances of $0 to $5,000
Over 55,000 in-network ATMs nationwide within the Allpoint ATM network
GO2bank stands out for cashback rewards and for not requiring a credit check.
Finder Rating: 3.4 / 5: ★★★★★
0.10% on balances of $0+
Varies based on connected bank accounts
Digit savings is a microsavings app that helps you avoid overdrafts and passively set aside cash for short-term goals.
Cheese Rewards Checking
Finder Rating: 4.1 / 5: ★★★★★
Cheese Rewards Checking
over 33,000 MoneyPass ATMs
The Cheese Rewards Checking account is a digital bank account and social cause platform designed for Asian-Americans and immigrants in the US.
Finder Rating: 4.6 / 5: ★★★★★
over 55,000 free in-network ATMs
Current connects your money to friends, family, brands, and experiences that matter.

Compare up to 4 providers

How do I open a Gusto Wallet account?

Current Gusto users can quickly open an account in five steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the provider website, sign in to your Gusto account.
  3. From the left-side navigation menu, select Wallet.
  4. Add your phone number and choose Text me the link.
  5. Download Gusto Wallet.
  6. Sign in to your Gusto account.
  7. Enter your phone number for security purposes.
  8. Enter the six-digit code Gusto sends you through text.
  9. Follow the prompts to split your future paychecks and start using your account.


To access Gusto Wallet, you’ll need to meet these requirements:

  • Receive paychecks from your employer through
  • Active account

Required information

Have this information ready when you open your Gusto Wallet account:

  • Login information for Gusto

How do I deposit or withdraw my money?

There are several ways to access money in your Gusto Wallet account:


  • Direct deposit
  • ACH transfer
  • Check deposit in the mobile app


  • ATM
  • Cash back at a retailer
  • ACH transfer

Frequently asked questions

What happens to my Gusto Wallet account if I leave my job?
If you leave a Gusto-supported employer, you can either keep your Gusto Wallet account or close it. If you choose to keep it, you can deposit your paycheck even if your new employer doesn’t use Gusto.

When will I receive my Gusto Wallet debit card?
You should receive your Gusto debit card within five to seven business days of opening your spend account.

How do I access my Gusto Wallet monthly statement?
You can access your Gusto spending account monthly statement through the Gusto Wallet mobile app or the Wallet tab on the Gusto employee dashboard.

Is Gusto a bank?
No. Gusto partners with FDIC-approved NBKC Bank to make sure your money is safe and insured up to $250,000.

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