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Comment by londont | Hacker News Reader

Hi there, co-founder of Gusto here. To clarify — If you have not yet updated your bank account on file to another (see article), you will have to wire funds to Gusto in order to make payroll on time. Log in to the app, run payroll, and you’ll get a prompt with more details and the specific cut-off, but it’s usually 10am PST in the morning of payroll.

In terms, of getting a new bank set up, I’ve seen people open bank accounts same-day with Mercury (online) or Chase (walking into a branch). Wiring funds from SVB to one of these banks should take <24hr to complete.

But yes, you CAN initiate a wire transfer from SVB if you prefer to do that. Note that some SVB customers are seeing issues with the portal right now (probably given high traffic).

Hope this helps.

Oh, also we created this resource hub to help SVB customers with tips like the above: https://gusto.com/company-news/silicon-valley-bank-closure-r...

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Great to hear from you! Thanks for the information. I'm a bit confused though. We have an ACH auto-pay schedule configured to take payment tonight (for payday on Wednesday). I thought ACH from SVB is still working. Is Gusto choosing not to process those payments? And if so, do you plan to eventually resume processing ACH payments from SVB?

Since the ACH payment is scheduled for tonight, we were planning on seeing if it fails, and if it does, sending the wire tomorrow so it arrives by 11am on Wednesday as required.

Thanks for the reply. That's right, if you use SVB you have the fund payroll through a wire transfer. The wire can come from any account (including an SVB account). ACH won't work.

Thanks. It would be nice if the dashboard reflected that instead of showing the ACH payment as scheduled for tonight, but of course I understand we're all working with little time or information. Also maybe you could update your FAQ to explain that Gusto will not attempt to process any ACH payments from SVB, despite them operating normally from the SVB side. At the moment the document only implies this and you need to read between the lines to understand why a wire is necessary.

I also agree with the other commenter downthread that this is adding an unnecessary layer of complexity, but I understand why you might be doing it to avoid overdrawing an account that has been emptied. Still, I'm not sure this default opt-out is the best solution - maybe it would be better to ask those who did move money out of SVB to cancel their ACH schedule, rather than unilaterally ceasing ACH processing and asking those who didn't move money out of SVB to change their method of payment.

Good feedback. Working on clarifying how we message this. Thank you!

Thanks for your responsiveness. We'll try initiating the wire, although we aren't able to log into SVB at all right now (503 errors and redirects back to login screen). I sure wish we could use ACH, since I assume it'd be more reliable for Gusto to download some ACH transactions from an SFTP server once, rather than sending every customer to SVB to attempt a wire transfer...

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