Toast Balance: Quick Start Guide

This guide applies only to certain eligible Toast customers. Please note — Toast Balance is currently in limited release with a select number of Toast customers and may not be available to you if you accessed this page from outside of your Toast Web backend. 

Toast is not a bank. Banking services provided by Thread Bank; Member FDIC. The Toast Balance Account Debit Mastercard is issued by Thread Bank pursuant to a license from Mastercard Inc. and may be used anywhere Mastercard is accepted.

• Log into your Toast Balance Account
• Get the most out of your Toast Balance Account
• Toast Balance FAQs
• Where to get support

1. Log into your Toast Balance Account†

To log in, visit the Financial Products page from your Toast Web backend, click on Toast Balance, and authenticate your account. You can visit your Toast Balance Account Dashboard by clicking here. 

2. Get the most out of your Toast Balance Account

Unlock 3.25% APY

Earn 3.25% APY (Annual Percentage Yield)* when your balances across all of your Toast Balance Accounts are $25,000 or higher, or 3.00% APY when your balances are below $25,000.

*Interest rate of 2.96% and Annual Percentage Yields (APY) of 3.00% for accounts with balances below $25,000, and interest rate of 3.20% and APY of 3.25% for accounts with balances $25,000 or higher, are effective as of 2/1/2024. The interest rates and APYs are variable and may change at any time. Fees may affect earnings on the account.

Deposit funds to your Toast Balance Account

Start earning interest by making your first deposit into your Toast Balance Account. 

ACH transfer

You can easily add funds via ACH (automated clearinghouse) — plus, there’s no fee for ACH transfers. There is a $25,000 daily ACH deposit limit, and a $100,000 total monthly ACH deposit limit. If you want to transfer more than these amounts, consider using a wire transfer.

1. Under your Toast Balance Account, click on Transfer money.

   1. If you haven’t deposited money before, you can also click on the Add funds button that appears on your Toast Balance dashboard.

2. Link your bank’s information through Plaid.

3. Select the bank you just added.

4. Enter the amount you would like to transfer to your Toast Balance Account.

Wire transfer

Find your Toast Balance Account and routing numbers

1. Under your Toast Balance Account, click on the arrow ( > ) in the top right to view account details.
   

Set up Auto Savings for your card sales processed through Toast

Take the manual work of depositing funds into your Toast Balance Account out of your day-to-day. Maximize the return on your hard-earned sales by contributing a fixed percentage of your daily card sales processed through Toast into your Toast Balance Account.

Auto Savings deposits into your Toast Balance Account will occur each day after all other scheduled debits are withdrawn (e.g. card processing fees, Toast Capital Loan repayments, Easy Pay repayments, etc.).

1. On your Toast Balance Account dashboard, find the Toast Balance Account or Jar that you want to set up or update Auto Savings for.

2. Under Auto Savings, click on the Pencil Icon.

3. Select a desired percentage of daily sales you would like to have automatically deposited into your Toast Balance Account.

   1. It may take up to a day for Auto Savings to start working depending on your restaurant's payment capture and daily deposit settings.

   2. This percentage is applied across all restaurants associated with your business.

Your total Auto Savings percentage is displayed on your Toast Balance dashboard.

Safeguard your Toast account with Multi-Factor Authentication (MFA)

MFA can help to protect your account by adding an extra layer of security to prove who you are when logging in. Visit https://central.toasttab.com/s/article/Setting-Up-Multi-Factor-Authentication for detailed instructions

Use Jars to reach your budgeting and savings goals

Each Jar is a Toast Balance Account that you can use for a specific purpose. Jars are a great way to help budget for operating expenses like payroll invoices and taxes, save for large purchases and restaurant projects, and build a rainy day fund.  

To open a Jar:

1. At the top of your Toast Balance Dashboard, click on Open a Jar.

2. Follow the instructions to personalize your new Account, set up Auto Savings, and deposit funds into your new Jar.  Each Jar is a Toast Balance Account, and the interest rate and annual percentage yield (“APY”) you earn is based on the total amount of deposits across all your Accounts with us.

3. All of your Jars will appear on your Toast Balance Dashboard.
   
   

How to connect Toast Balance to QuickBooks

1. Log into the relevant Intuit product and select to connect a new bank account.

2. Within the directory, search for and select the Toast Balance Account, and enter the mobile phone number associated with your account.

3. A verification code will be sent via SMS for you to authenticate your account.

4. Your Toast Balance Account information and other transaction data will be automatically published to Intuit.

   1. Mint will pull 90 days of transaction history.

   2. For Quickbooks, you can select a timeframe to import.

5. You can revoke Intuit's access to your account at any time.

Make purchases or withdraw cash with your Debit Mastercard

You can use your Toast Balance Account Debit Mastercard to make purchases in-store or online, or withdraw cash at any ATM displaying the Mastercard logo. You also can withdraw money fee-free at over 55,000 AllPoint ATM locations.

Once you receive your debit card, you can activate it by calling 1-855-333-1725. You will be required to set a four-digit numerical PIN during the activation process.

If you didn’t receive your debit card within 10 business days of opening your Toast Balance Account, please email us at toastbalance@toasttab.com to request a new one. 

Use your Toast Balance Account with Toast Payroll

You can use a Toast Balance Account to run payroll through Toast Payroll. To update your Toast Payroll bank account to a Toast Balance Account or Jar of your choice, please follow the steps below.

1. Email toastbalance@toasttab.com to request a bank letter

   1. Please include the name of the account and the last four digits of the account number. You can find this information on your Toast Balance dashboard.

2. Follow the instructions listed here: Toast Payroll: Change Company Bank Account On File.

   1. Start by downloading and filling out the bank account update form listed in the article

3. Toast Balance FAQs

Visit our full Toast Balance FAQs here.

Is there a monthly fee?

There is no monthly fee for the Toast Balance Account and there is no minimum balance required to avoid a fee.

How much does it cost to transfer funds to and from my account?

There is no fee for ACH transfers into or out of your account.  For wire transfers, there is a fee of $5 for each inbound wire transfer.  This fee will be refunded within 10 business days if (1) your wire transfer is made during the first month your account is open, or (2) if your wire transfer is for $100,000 or more.  There is a fee of $25 for each outbound wire transfer.

Is there a limit to the percentage of sales I can divert to the Toast Balance Account?

There is no limit.  The transfer will occur each day after all other scheduled debits are withdrawn (e.g. Toast Capital repayments).  If remaining funds after all scheduled debits are deducted equate to less than the percentage you set for your daily deposit transfer, all remaining funds will be swept to your Toast Balance account effectively reducing the % of daily sales diverted.

Can I overdraft my Toast Balance Account with a purchase?

No. We don’t currently offer overdraft protection. If you attempt a transaction for more money than you have in your primary Toast Balance Accountor Jar, it will get declined. Funds will not be pulled from other Jars or your primary Toast Balance Account to cover the transaction. If you have an upcoming purchase or an automated payment from your Jar, it’s best to make sure your Jar has sufficient funding first.

4. Where to get support

Please reach out to toastbalance@toasttab.com if you encounter any issues or have questions. Our customer service hours are Monday - Friday between 9am - 5pm ET.

Toast is not a bank. The Toast Balance Account is issued by Thread Bank; Member FDIC.