Q: What is Instant Deposit? A: Instant Deposit is a feature provided by Toast that enables you to access your closed card sales for the day (excluding American Express sales) instantly, typically within 30 minutes of making an Instant Deposit request, for a 1.5% fee. This program is currently in beta with a select number of customers. Please reach out to instant-deposits@toasttab.com if you are interested in learning more about the program.
Q: What should I do if I see an unrecognized transaction or modification request? A: If you see an unrecognized transaction or modification request, please call 617-682-0225 immediately and select option 4. If you haven’t received your money or had any other issue with your transaction, please reach out to instant-deposits@toasttab.com for help.
Q: How long does it take funds to arrive? A: Funds typically arrive to your debit card within 30 minutes of initiating the transaction, but could in unusual cases be subject to delays, such as service interruptions by third parties outside of Toast's control. If you’re unable to locate your deposit within 30 minutes, please reach out to instant-deposits@toasttab.com for help. If you see an unrecognized transaction or modification request, please call 617-682-0225 immediately and select option 4.
Q: When can I use Instant Deposits? Is there a cutoff time? A: There is no cutoff time. Instant Deposit is available 365 days a year, even on holidays and weekends. Funds typically arrive to your debit card within 30 minutes of initiating the transaction with no cutoff times or blackout dates. However, during the beta period, Instant Deposit transactions may not be available from 4:30 AM ET to 6:30 AM ET each day.
Q: How much money can I Instant Deposit in a day? A: Restaurants can Instant Deposit up to $5,000 per calendar day, though Toast may establish additional limits. If you are new to Instant Deposit, or if you add a new debit card, the daily Instant Deposit limit will be lower, and increase as you continue to use Instant Deposit. The minimum amount for an Instant Deposit transaction is $25. Additional limits may apply as set by the bank that issues your debit card, including limits on the number of Instant Deposits you can initiate on a given calendar day. American Express card transactions are not available for Instant Deposit. Restaurants must Instant Deposit the entire available amount at the time of the transaction (rather than a portion of the available amount).
Q: What information is needed to submit an Instant Deposit request? A: When an Instant Deposit is requested, additional details including your name and full debit card number are sent to the card provider or issuing bank to allow for transaction verifications. When you provide your debit card details at set up, these details will be encrypted and stored for all future Instant Deposit transactions. You can review and update your debit card details at any time on the Instant Deposit page in Toastweb.
Q: Why is my card not compatible with Instant Deposit? A: If your card is not “Fast Funds enabled” then you cannot receive Instant Deposits. Fast Funds enabled means that the bank that issues your debit card makes Instant Deposit funds available in the recipient account within 30 minutes of authorization. 99.8%+ of US-issued debit cards are Fast Funds enabled, but please reach out to your issuer or try another card if your card is not Fast Funds enabled.
Q: Can I use a credit card for Instant Deposits? A: No, Instant Deposits may only be used with Visa or Mastercard debit cards issued by U.S. banks insured by the Federal Deposit Insurance Corporation at this time.
Q: Which banks support Instant Deposits? A: Issuing banks must be “Fast Funds enabled” to receive Instant Deposits. 99.8%+ of US issued debit cards are Fast Funds enabled, but please reach out to your card issuer or try another debit card if your card is not Fast Funds enabled.
Q: What should I do if I don’t receive my funds within 30 minutes? A: If you’re unable to locate your deposit within 30 minutes, please e-mail us at instant-deposits@toasttab.com. If you see an unrecognized transaction or request, please call 617-682-0225 option 4 immediately.
Q: Where can I see a summary of my Instant Deposits? A: You can see a summary of your Instant Deposits in the Activity section of the Instant Deposits homepage.
Q: Why don’t I see the Instant Deposit feature in my Toast account? A: The Instant Deposit feature is currently in beta with a select number of customers. We’re rolling this out to customers in the coming weeks. Once it becomes available for your restaurant, you will see this option on your Toast Web homepage. In the meantime, reach out to instant-deposits@toasttab.com if you are interested in learning more about the program.
Q: Can I pay a vendor/supplier through Instant Deposit? A: No, you can only upload a debit card that your restaurant owns or has the right to control, access and use on its own account to deposit card transaction proceeds.
Q: Why was my Instant Deposit request declined? A: Instant Deposits can be declined if the card is or becomes unable to receive the funds for reasons including card expiry, a card being reported as lost or stolen, or change in card eligibility.
Q: Can I cancel an Instant Deposit request after it’s been processed? A: No, Instant Deposit transactions are final and generally may not be reversed, canceled or otherwise adjusted in amount or in any other way.