Toast Payroll: Get Started With Toast Pay Card - Employer Guide

	For Employers Use the Toast Pay Card Get Help with Toast Pay Card   For Employees The MyToast App: Account (start here) The MyToast App: Pay Use and Troubleshoot Toast Pay Card

In this Article:

• Overview
  • Toast Pay Card
  • Toast PayOuts
  • MyToast App
  • Employee Eligibility
• Get Started With the Toast Pay Card
  • Sign Up
  • Complete Your Contract
  • Check Your Email
• More Details About Contracting

Toast Pay Card and PayOuts Overview

We are excited that you would like to learn more about the Toast Pay Card and PayOut program offered to Toast Payroll customers!¹ You must have Toast Payroll in order to use the Toast Pay Card.

Toast Pay Card

The Toast Pay Card is a free product for you to offer to your employees. Toast Pay Card is also free² for employees to use, and allows them to receive their earnings directly on a prepaid debit card that can be used anywhere Mastercard® is accepted. Check here for an updated list of eligible states where we offer the product today. Toast Pay Card is a great alternative to paper checks or direct deposit.
 

If you participate in the program, your employees will be able to:

• Use Toast PayOuts for instant³ access to a portion of earned tips and wages before payday, if you choose to make Toast PayOuts available.
• Withdraw cash from over 37,000 ATMs within the MoneyPass® network at no cost to them and no third-party fees.⁴
• Transfer money from their Toast Pay Card to external bank accounts.⁵
• Provide their Toast Pay Card's routing and account numbers to third parties (e.g. their cell phone provider) to pay bills.
• Spend anywhere Mastercard is accepted in the US.
• Access over-the-counter withdrawals at a bank, but they may be charged a fee at banks that are not Mastercard member banks.

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Toast PayOuts

Toast PayOuts, a feature free for you and your team if you choose to make it available, can provide your employees with up to 100% of their earned tips (max $500 per day) and a portion of earned wages before payday (max $500 per pay period).⁶

Eliminate those pesky trips to the bank for cash to pay nightly tips. Instead, you will be able to pay tips digitally using Toast PayOuts. Offering Toast PayOuts does not require a credit check and does not assess your credit, your business's credit, or your employee's credit when you enroll in the program. The Toast Pay Card and PayOut program is funded by a 0% line of credit issued to participating Toast restaurants by Toast, Inc., as set forth in your Credit Agreement. Click here to learn more about the line of credit issued at the time of contracting. If you choose to not make PayOuts available to your employees, your 0% line of credit will remain open until you stop participating in the Toast Pay Card and PayOut program.

The best part, because Toast Pay Card and PayOuts integrates with your employee's timesheets imported into Toast Payroll, preparing and processing your payroll will not require any new steps, once everything is set up properly. If you are not a Toast Payroll customer, click here to learn more so you can also take advantage of the Toast Pay Cards and PayOut program.

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MyToast App

Once you sign up for Toast Pay Card and PayOuts, your employees can manage their accounts via Toast's employee app called MyToast. The MyToast app allows employees to:

• Order a Toast Pay Card and then subsequently view transaction history and manage the account balance of their Toast Pay Card.
• Accept the Toast PayOut offers presented post-shift, if applicable.
• View their shift data such as clock-in times, clock-out times, and anticipated pay.

To learn more about the MyToast app, visit The MyToast App: Account and The MyToast App: Pay.

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Employee Eligibility

If you operate in a state where Toast Pay Card and PayOuts is offered and you choose to participate in the program, all your non-salaried employees ages 18 or older would qualify for Toast Pay Cards and (if you offer them) PayOuts. Ineligible employees will receive an error message saying they are not eligible.

We do not offer employers the option to control each employee's individual access or eligibility for the program. Employees who qualify may choose, but are not required, to use Toast Pay Cards as a payment option.

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Get Started With the Toast Pay Card

Sign Up

• If you're new to Toast, sign up through your Toast rep.
• If you've already used Toast Payroll before and processed a payroll, sign up in the Toast Shop.

Complete Your Contract

• The owner or control person should be able to select the Set Up Toast Pay Card & PayOut link in the Setup Checklist, located in the lower-right corner of Toast Web. The Setup Checklist will guide you through the steps to completing the Toast Pay Card contract and Line of Credit Agreement. To learn more about contracting, check out this section that outlines this in more detail.
  • Note: A control person (executive officer, senior manager, or someone who performs similar functions) is someone who can sign a credit agreement on behalf of your restaurant.
• You must complete a contract for every entity that funds a payroll (a good general guideline is to select the Set Up Toast Pay Card & PayOut link in the Setup Checklist for each location and follow the instructions for if a contract is needed).
• Once you've completed the Setup Checklist steps, if additional review is needed, a member of our team will reach out by email within approximately 5 business days.

Check Your Email

Once all of your entities that fund payroll are contracted, the person who completed the contract will receive a welcome email within approximately 5 business days. The subject line of the email is "You've been approved to offer Toast Pay Card and PayOut!" Visit this page next to configure the program's settings and learn how how to roll it out to your employees.

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More Details About Contracting

If Toast is funding your line of credit, you'll sign one agreement that governs your participation in the program and sets forth the terms of the line of credit.
 

• We will ask you to confirm some information about your restaurant, including its ownership and management. Please make sure the information in the application is accurate and let us know if it needs to be updated. You must complete a contract for every entity that also funds a payroll.
• There is no charge associated with this line of credit, and Toast does not run a credit check on you or your business or require any personal guarantees. if you have restaurants in multiple states, they all must be in states that are currently eligible. Click here for an updated list of eligible states where the product is offered today.

After we receive your completed application and signed agreement (agreement if Toast is funding your line of credit), we will verify certain information about your business and its owners, which allows you to receive the line of credit and allows your employees to sign up for a Toast Pay Card without further individual employee identity verification checks. If everything passes, our Product team will enable the Toast Pay Card and PayOut program for your entity's restaurant location(s).

Employees will be able to log into the app and start signing up for cards when the have been mapped between Toast POS and Toast Payroll and the product has been turned on for the restaurant. An employee will only be able to begin receiving their pay onto the Toast Pay Card once:

• Toast Payroll is live
• The employee has activated their Toast Pay Card, and
• The employee connected it to Toast Payroll via the prompt in the MyToast app

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¹ Toast Pay Cards are issued by Sutton bank, Member FDIC, pursuant to license by Mastercard®. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Toast PayOuts are funded by a 0% line of credit issued to employers by Toast, Inc., as set forth in the employer's Credit Agreement. Toast reserves the right to change or discontinue the program at any time. Toast Pay Card and PayOut is not available in all jurisdictions and is available to Toast Payroll customers only.
 

² Toast Pay Cards do not have any associated ATM withdrawal or other fees; however, third-party ATM operators may charge a fee unless the cardholder uses an ATM within the MoneyPass® Network, and third-party financial institutions may charge a fee for over-the-counter withdrawals unless the institution is a Mastercard member bank. MoneyPass is a registered trademark of Fiserv, Inc.
 

³ Access is typically available instantly after the employee's shift; however, if restaurants tip pool using Toast Tips Manager, Toast PayOuts of tips are available after the tip pool is approved and sent to Toast Payroll, typically the next calendar day.
 

⁴ MoneyPass is a registered trademark of Fiserv, Inc.
 

⁵ Fees charged by the receiving financial institution are uncommon but may apply. Employees will receive two free ACH transfers per calendar month. It is not possible to exceed that limit, even for a fee. Employees cannot schedule transfers for future dates. There is a limit of $2500 per transaction, $5000 per day, and $5,500 per month. Limits are subject to change. Employees should see their Cardholder Agreement for details.
 

⁶ Toast PayOuts may be limited to a portion of pay to help account for estimated taxes, withholdings, and deductions. Tip PayOuts are not available at restaurants that tip pool without using Toast Tips Manager. Employees must receive wages via the Toast Pay Card in order to access Toast PayOuts. Tips will be paid to employees on their Toast Pay Card as though they were receiving them in cash. Wages will be advanced by employers during the pay period and deducted from their total wages paid to them on payday.
 

This content is for informational purposes and is not intended as legal, tax, HR, or any other professional advice. Please contact an attorney or other professional for advice.