Find answers to common questions about Toast Checking. Automate your budget and get unlimited 1% cash back on eligible debit card purchases. Plus, unlock a highly competitive interest rate when your total balance is above a certain level.
†Toast is not an FDIC-insured bank. Banking services provided by Thread Bank; Member FDIC. The Toast Checking Account Debit Mastercard is issued by Thread Bank pursuant to a license from Mastercard Inc. and may be used anywhere Mastercard is accepted. FDIC Insurance available for funds on deposit through Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
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Applying for Toast Checking
Who issues the Toast Checking account?
The Toast Checking Account is issued by Thread Bank, Member FDIC.
Does opening a Toast Checking account affect my credit score?
Opening an account will not affect your credit score.
I already have a business bank account. Do I have to close that bank account to use Toast Checking?
No, you don’t have to close your existing bank account, but you may wish to keep it open only for cash and check cashing needs while using Toast Checking for optimizing your return on funds used for budgeting, saving and transacting.
Why does the Toast Checking application ask about the ownership and/or management of my business?
Gathering this information is required by law before a new account can be created. During the application process you will be asked some details about individuals involved who own or have significant responsibility to control, manage, or direct your business.
Who can access Toast Checking accounts? Can I have multiple authorized users?
Co-owners can access the account. Limited access for authorized users will be available in the future. Co-owners can be added to access the account after the application process by reaching out to us at toastchecking@toasttab.com.
Can I add beneficiaries to a Toast Checking account?
Not at this time. You will be notified when this update occurs.
FDIC Insurance for Toast Checking Accounts
What is FDIC Insurance?
FDIC insurance is a form of insurance provided by the Federal Deposit Insurance Corporation (FDIC) that protects depositors from loss in the event that an FDIC insured depository institution fails. Please review the FDIC Deposit Insurance website for additional information.
How much FDIC insurance coverage do funds on deposit in my Toast Checking accounts qualify for?
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure and a list of program banks at https://thread.bank/program-banks. Please contact customerservice@thread.bank with questions regarding the sweep program.
For more information about the program see the Thread Sweep Disclosure.
Where can I see a list of the program banks participating in the network?
FDIC insured IND Program Banks as of September 2024 are listed here.
Can I opt out of a Program Bank?
Yes. To opt out please contact us at customerservice@thread.bank.
Fund Your Toast Checking Accounts and Move Money
How do I fund a Toast Checking account?
You can fund your account by transferring funds from an external account into your new Toast Checking account using wire transfers or ACH. You may also fund your account painlessly through Auto Savings, which allows you to designate a percentage of your daily card sales to be automatically deposited to your Toast Checking account.
What happens if I don’t fund my Toast Checking account?
If you don’t move funds into your Toast Checking account after 12 months, we will close your Toast Checking account.
Can I open a Toast Checking account and fund it later?
Yes. You may fund your account at a later time.
Will my existing bank account on file with Toast Inc. be connected to my Toast Checking account?
No, this will not happen automatically, but you may connect it at your discretion.
How do I connect an external bank account to my Toast Checking account?
Link your existing bank accounts just by logging in. It’s fast and easy. We work with Plaid to verify account information when linking a new bank account to your Toast Checking account. In order for us to verify account ownership and proper use of the account being linked, you will be asked to log into your external bank account through Plaid which keeps all of your bank account information completely secure.
Can I set up recurring transfers with Toast Checking?
No, Toast Checking doesn’t currently support recurring transfers other than Auto Savings. But if you wish to move funds into a Toast Checking account on a recurring basis from an external account, go to that external account and see if they allow for recurring transfers. This will “push” funds over to a Toast Checking account on a recurring basis per the schedule you set.
Is there a limit to the number of transfers I can make to and from a Toast Checking account?
There are no limits based upon the number of transfers you make, but there are total daily and monthly dollar limits that apply. Please see details in the Money Movement table below.
What is Auto Savings for Toast Checking and how do I set it up and change the percentage?
Auto Savings is a feature that lets you set a percentage of your daily card sales (credit, debit and gift card sales) to automatically divert and deposit into your Toast Checking account or Jar. It’s a simple and powerful way to quickly build your balance. Note that Auto Savings percentages are applied after any other scheduled debits (card processing fees, Easy Pay repayments, Toast Capital Loan repayments, etc.).
You can set and change the Auto Savings percentage with the following steps:
On your Toast Checking dashboard, locate the Toast Checking account or Jar that you want to set up or update Auto Savings for.
Click on the three dots ( ⋮ ) to open up account info and settings
Under Auto Savings, click on the Pencil Icon.
Select a desired percentage of daily sales you would like to have automatically deposited into your Toast Checking account.
It may take up to a business day for Auto Savings to start working depending on your business’ payment capture and daily deposit settings. This percentage is applied across all Toast locations associated with your business.
I own multiple business locations. Can I designate which businesses are participating in Auto Savings with Toast Checking?
No. Auto Savings is turned on at the business level, meaning the % of daily card sales you divert to your Toast Checking account or Jar will be applied to your total daily card sales for all your businesses that share the same legal entity combined.
Can processing fees or the usage of other Toast financial products impact Auto Savings for Toast Checking?
Yes. The daily Auto Savings deposit to your Toast Checking account or Jar is calculated AFTER other authorized deductions are made (including Instant Deposits, Easy Pay, Toast Capital Loans, and processing fees). Once these other obligations are met, Auto Savings kicks in and is calculated on every individual sale, not on the total of your sales. Due to rounding, the exact amount of your total Auto Savings deposit may be slightly different than the percentage you set.
How do outbound wire transfers from a Toast Checking account work?
Outbound wire transfers must be initiated from your Toast Checking dashboard by clicking on the “Wire transfer” button. Accuracy of information is crucial. Inaccurate information could result in the wire being rejected or failing. Please be sure the routing information submitted is usable for wire transfers as many large banks have a different routing number for wires than what is shown on your checks. Once you fill in the form, submit it and keep a copy handy. You can print the form or access it again from your dashboard by double clicking the pending wire transfer listed at the top of your transactions list.
After the form is submitted, you will be automatically prompted to schedule a phone review with a Toast representative who will verify your identity and the transfer details. This last step is for your protection, reducing the risk of fraud and the chance the funds are mistakenly sent to the wrong account. Once a wire is sent that you have authorized, it is not possible to get the funds back and you are responsible for any losses. The call with Toast must occur before 4 PM ET for the wire to be processed the same day.
What information will I need to make an inbound wire transfer from a Toast Checking account?
Beneficiary Name:
The name of the Toast Checking account holder
Beneficiary Account Number:
Your Toast Checking account number
Beneficiary Routing Number / Receiver ABA:
064209588
Beneficiary Address:
The address on your Toast Checking account
Beneficiary Bank Name:
Thread Bank
Beneficiary Bank Routing Number:
064209588
Beneficiary Bank Address:
210 E Main St, Rogersville TN 37857
Toast Checking Interest
What’s the annual percentage yield (APY) for my Toast Checking accounts?
Annual percentage yield, also known as APY, is the rate used to calculate how much interest you earn on money in your primary Toast Checking account and any Jars. The APY you earn depends on your total balance as well as the date you opened your first Toast Checking account:
If you opened your first account on or after March 3, 2025: Interest rate of 1.49% and Annual Percentage Yield (APY) of 1.5% for accounts with total balances of $15,000 or more is effective as of 11/4/2025. You will not earn any interest or APY if the total balance across your accounts is less than $15,000. The interest rates and APYs are variable and may change at any time. Fees may affect earnings on the account.
If you opened your first account before March 3, 2025: Interest rate of 1.90% and Annual Percentage Yields (APY) of 1.92% for accounts with balances below $25,000, and interest rate of 2.10% and Annual Percentage Yield (APY) of 2.12% for accounts with balances $25,000 or higher, are effective as of 11/4/2025. The interest rates and APYs are variable and may change at any time. Fees may affect earnings on the account.
How is the interest I receive for my Toast Checking account calculated?
Interest is calculated on the balance in each account (your primary Toast Checking account and Jars) for each day of the month. All interest earned for a month (the total of all the individual daily interest calculations) is paid out on the first day of the following month into the individual accounts.
Can the interest rate for my Toast Checking accounts change over time?
Yes, the interest rate is variable and may change at any time.
How do I see my Toast Checking account’s interest rate?
You can find the current interest rate listed at the top of your Toast Checking dashboard.
Do I have to pay taxes on the interest my Toast Checking accounts earn?
Yes.
Will I receive a tax form (1099-INT) to report the interest my Toast Checking accounts earn?
Yes. 1099-INT forms are prepared and mailed in January and can also be found on the Toast Checking dashboard.
Toast Checking Fees, Minimums, and Account Limitations
Is there a monthly fee or minimum balance required for Toast Checking?
There is no monthly fee for Toast Checking and there is no minimum balance required.
How much does it cost to transfer funds to and from a Toast Checking 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. There is a fee of $25 for each outbound wire transfer.
Are there any account functionality limitations for Toast Checking?
Yes, the initial offering of Toast Checking has some functionality limitations, which will be addressed in the future. Some limitations are related to the fact that the Toast Checking accounts are online only accounts and may not change such as no paper check issuance. As new features are enabled, you’ll be notified immediately.
Toast Checking Support
How do I get in touch if I have questions or an issue with a Toast Checking account?
Email toastchecking@toasttab.com. If your email arrives after hours, the product team will be in touch the next business day morning.
You can also call for support — the Toast Checking Account phone number is (617) 468-5542. Customer service hours are Monday-Friday between 9 a.m. and 5 p.m. ET.
I tried logging into my Toast Checking account too many times with an incorrect one-time PIN (OTP), and now I’m locked out. What can I do?
If you are attempting to log into your Toast Checking account, and have been locked out after too many attempts (the limit is five), please email toastchecking@toasttab.com with your full name and associated restaurant account for support. If your email arrives after hours, the product team will be in touch the next business day morning.
I changed my phone number and am unable to log into my Toast Checking account. What should I do?
Please email us at toastchecking@toasttab.com and we can help to get your phone number updated and restore your access.
How do I dispute a charge for a Toast Checking account?
Before you file a dispute:
If you’ve done business with this merchant, contact them directly to try and resolve your concerns.
If you notice a transaction you didn’t make or have a question about a transaction in your history, you will need to report a dispute. To do so, contact us for assistance at toastchecking@toasttab.com.
How long does it take to receive provisional credit for a disputed charge on a Toast Checking account?
Provisional credit can take up to 10 business days to post to your account from the date you tell us of an unauthorized transaction.
What do I do if I didn’t receive an inbound wire transfer for a Toast Checking account?
You won't see your wire transfer if it gets rejected, returned, or declined because the account info is wrong. If you don't see the wire in your Toast Checking account, contact the following:
If you initiated the wire transfer - reach out to the sending bank
If your customer sent you the wire transfer - reach out to your customer. They'll need to speak to their bank.
To investigate a missing wire, you'll need to get a Federal Reference number or an IMAD from the sending bank.
Can I place a “stop payment” on a recurring payment from a Toast Checking account?
Yes. Contact us by email at toastchecking@toasttab.com at least three (3) business days before the next payment is scheduled to be made. You must provide us with (a) your name, (b) your Account number, (c) the company or person taking the payments, and (d) the date and amount of the Preauthorized Transfer you wish to stop. If you want all future payments from that company or person stopped, be sure to tell us that as well.
Can I overdraft a Toast Checking account with a purchase?
No. We don’t currently offer overdraft protection. If you attempt a transaction for more money than you have, it will get declined.
How do I pause withholding on a Toast Checking account?
On your Toast Checking dashboard, locate the Toast Checking account or Jar that you want to set up or update Auto Savings for.
Select the three dots ( ⋮ ) to open up account info and settings.
Under Auto Savings, select the pencil Icon.
Select a desired percentage of daily sales you would like to have automatically deposited into your Toast Checking account.
It may take up to a business day for Auto Savings to start working, depending on your business’s payment capture and daily deposit settings. This percentage is applied across all Toast locations associated with your business.
Toast Checking Account Closures
If I close my Toast account, how can I access Toast Checking?
You must have an open Toast account to have and access Toast Checking. If your Toast account is closed, we will close your Toast Checking account(s) within four weeks and send you a check for the funds in the account(s). To ensure uninterrupted access to your funds, you should transfer all funds in your Toast Checking accounts out to an external bank account before closing your Toast account.
How do I close my Toast Checking accounts?
Reach out to toastchecking@toasttab.com to initiate a Toast Checking account closure. You can close your account at any time and there are no penalties. Any interest still owed to you will be sent via a check to the address on your bank account at the time of account opening. Your 1099-INT form will be mailed to you in January.
General Toast Checking FAQs
Where do I find Toast Checking on Toast Web?
Toast Checking can be found on the Finance Page.
Where can I find a Toast Checking account’s account number and routing number?
You can view your account number and routing number on your Toast Checking dashboard. Locate your Toast Checking account or Jar, and click on the three dots ( ⋮ ) to find your account and routing numbers.
How do I get Toast Checking monthly statements?
Statements are generated during the first few days following the end of the previous month and are electronically filed to your Toast Checking dashboard, under account details when you click on the three dots ( ⋮ ) next to your Toast Checking account or Jar.
If I apply for a Toast Capital Loan, can I have my loan funds deposited into a Toast Checking account?
Eligible Toast Checking customers may be able to have Toast Capital Loan funds disbursed to their primary Toast Checking account.
How do I connect Toast Checking to Quickbooks?
Log into the relevant Intuit product and select to connect a new bank account.
Within the directory, search for and select Toast Checking or Toast Balance, and enter the mobile phone number associated with your account.
A verification code will be sent via SMS for you to authenticate your account.
Your Toast Checking information and other transaction data will be automatically published to Intuit.
Mint will pull 90 days of transaction history.
For Quickbooks, you can select a timeframe to import.
You can revoke Intuit's access to your account at any time.
How might a lien or levy impact my Toast Checking accounts?
This is case specific, but the impact can be significant. Toast is often informed if customers have a lien or levy filed against their business by third parties. Toast must then submit the lien or levy for processing which can severely impact your business receivables, e.g. your nightly settlements from Toast. This would impact your Toast Checking Auto Savings, which would be paused until the creditor notifies Toast that the lien is satisfied. If you see your Auto Savings has not been automatically turned back on after a lien is satisfied, it may be necessary for you to notify us at toastchecking@toasttab.com to restore this feature of Toast Checking.
Please also know that Toast may be required by the lien, levy, subpoena, or other procedural requests to inform the creditor of the existence of Toast Checking and that funds are held within it, as the creditor may have a claim to Toast Checking funds as business proceeds. In some cases, the funds in Toast Checking accounts may be required to be turned over to the third party creditor.
Where can I find all of the details about Toast Checking?
Everything you need to know about your account can be found in your Toast Checking Account Agreement.
If you opened your first Toast Checking Account before March 3, 2025, the latest version of your Agreement is here.
If you opened your first Toast Checking Account on or after March 3, 2025, the latest version of your Agreement is here.
Money Movement Table
Money movement occurs on business days (excludes Saturday, Sunday and Federal Holidays)
Your Accounts will have different deposit and withdrawal limits for certain ACH transfers for the first ninety (90) days after your onboarding as a Toast Merchant (“First 90 Days”).
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Money movement occurs on business days (excludes Saturday, Sunday and Federal Holidays)
Your Accounts will have different deposit and withdrawal limits for certain ACH transfers for the first ninety (90) days after your onboarding as a Toast Merchant (“First 90 Days”).
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Money movement occurs on business days (excludes Saturday, Sunday and Federal Holidays)
Your Accounts will have different deposit and withdrawal limits for certain ACH transfers for the first ninety (90) days after your onboarding as a Toast Merchant (“First 90 Days”).
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Money movement occurs on business days (excludes Saturday, Sunday and Federal Holidays)
Your Accounts will have different deposit and withdrawal limits for certain ACH transfers for the first ninety (90) days after your onboarding as a Toast Merchant (“First 90 Days”).
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Deposits Into Your Account
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Deposits Into Your Account
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Deposits Into Your Account
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Deposits Into Your Account
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Deposit Method
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$ Limitations
(calculated by adding together total amounts you add or withdraw from all of your Toast Checking accounts)
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Cut Off Times
(If applicable)
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Funds Availability
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Direct Deposits
Includes Auto Savings Transfers
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No limits
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N/A
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Posted as received through end of the business day
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ACH transfers into your Accounts from a connected bank account with another institution
This transfer is initiated from within your Toast Checking account’s “add funds to my account” function.
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First 90 Days
$10,000/day
$100,000/month
After First 90 Days
$25,000/day
$100,000/month
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3:00 PM ET
Request processed next business day
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Up to 5 days after receipt
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Internal transfers between eligible accounts managed by Toast
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No limits
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N/A
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Immediate
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Domestic inbound wires
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No limits
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4:00 PM ET
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Same Business Day
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Cash Deposit via Green Dot® Financial Network
(“Green Dot”)
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$500/transaction at most participating retailers
$1,000/transaction at Walmart
$1,500/day
$3,500/week
$5,000/month
4 deposits/day
7 deposits/week
20 deposits/month
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$500/transaction at most participating retailers
$1,000/transaction at Walmart
$1,500/day
$3,500/week
$5,000/month
4 deposits/day
7 deposits/week
20 deposits/month
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$500/transaction at most participating retailers
$1,000/transaction at Walmart
$1,500/day
$3,500/week
$5,000/month
4 deposits/day
7 deposits/week
20 deposits/month
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Cash deposit at in-network ATM
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$1,000/transaction
$2,000/day
You can use your debit card to make deposits at
in-network ATMs. You can identify an in-network
ATM by looking for the Allpoint logo on or near
the ATM. You cannot make cash deposits at out-of-network ATMs.
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$1,000/transaction
$2,000/day
You can use your debit card to make deposits at
in-network ATMs. You can identify an in-network
ATM by looking for the Allpoint logo on or near
the ATM. You cannot make cash deposits at out-of-network ATMs.
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$1,000/transaction
$2,000/day
You can use your debit card to make deposits at
in-network ATMs. You can identify an in-network
ATM by looking for the Allpoint logo on or near
the ATM. You cannot make cash deposits at out-of-network ATMs.
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Withdrawals From Your Account
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Withdrawals From Your Account
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Withdrawals From Your Account
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Withdrawals From Your Account
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Deposit Method
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$ Limitations
(calculated by adding together total amounts you add or withdraw from all of your Toast Checking accounts)1
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Cut Off Times
(If applicable)
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Funds Availability
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Internal transfers between eligible Accounts managed by Toast
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No limits
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N/A
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Immediate
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ACH transfers from your Accounts to another bank account via ACH Origination Services
Examples: make scheduled payments to vendors or pay employees with Direct Deposit
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First 90 Days
$5,000/day
$100,000/month
After First 90 Days
$10,000/day
$100,000/month
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3:00 PM ET
Request processed next business day
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Depends on schedule of the bank receiving funds
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ACH transfer to a merchant or other third party you authorize to withdraw from your Account using your routing number and account number
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No limits
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3:00 PM ET
Request processed next business day
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< 1-3 business days, depending on schedule of the bank receiving funds
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ATM withdrawals
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$1,000/day
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Domestic outbound wire
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$200,000/day
$500,000/month
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4 PM ET
Must complete Toast’s required authorization review prior to cut off
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Same business day. Time of day depends on schedule of the bank receiving funds
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ACH transfers from your Accounts to a connected bank account at another institution3
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First 90 Days
$5,000/day
$100,000/month
After First 90 Days
$25,000/day
$100,000/month
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3:00 PM ET
Request processed next business day
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< 1-3 business days, depending on schedule of the bank receiving funds
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POS transactions and other transactions at merchants using your debit card
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$5,000/day
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1The limits above are determined by adding the total amount of deposits or withdrawals you make from all of your Toast Checking accounts (your primary Toast Checking account and any Jars). For example, if you have two Accounts, you may add or withdraw a total of $25,000/day in ACH transfers from your Accounts to connected bank accounts with other financial institutions.
2 The recipient’s name on any direct deposit or ACH, must match the name on the Account or the deposit may be returned to the originator. Direct deposit is the deposit of funds electronically into your Account.
3 You may transfer funds between your Account and another bank account. The connected bank account must be located in the United States.
4 ©2025 Green Dot Corporation. Green Dot is a registered trademark of Green Dot Corporation.
5 Available only at the register at participating retailers. Green Dot may impose its own fees, as well as limitations on the amount or frequency you can deposit. Cash deposits via Green Dot are processed as electronic fund transfers.
††Only purchase transactions processed through the Mastercard network are eligible for cash back rewards. Ineligible transactions include transactions that are not processed through the Mastercard network, cash withdrawals, peer-to-peer debit transactions, refunds, or any transaction that is not consistent with lawful use of your Toast Checking Account. We reserve the right to modify or terminate this rewards program at any time.
†††If you opened your first account on or after March 3, 2025: Interest rate of 2.23% and Annual Percentage Yield (APY) of 2.25% for accounts with total balances of $15,000 or more is effective as of 9/19/2025 for new Toast Checking account customers. You will not earn any interest or APY if the total balance across your accounts is less than $15,000. The interest rates and APYs are variable and may change at any time. Fees may affect earnings on the account.
If you opened your first account before March 3, 2025: Interest rate of 2.15% and Annual Percentage Yields (APY) of 2.17% for accounts with balances below $25,000, and interest rate of 2.34% and APY of 2.37% for accounts with balances $25,000 or higher, are effective as of 9/19/2025. The interest rates and APYs are variable and may change at any time. Fees may affect earnings on the account
Account Agreements
If you opened your first Toast Checking Account before March 3, 2025, the latest version of your Agreement is here.
If you opened your first Toast Checking Account on or after March 3, 2025, the latest version of your Agreement is here.
Additional Resources