What is it
What is Spruce Money?
Spruce is a mobile banking platform built by H&R Block that offers free checking and savings accounts, a variety of budgeting tools, early direct deposit, and even the ability to earn cash back on everyday purchases. The app is designed with simplicity, making it easy for anyone to manage their money on the go.
Pros & Cons
Pros & Cons of Spruce Money
Features
Spruce Money Top Features
Savings Goals
Create savings goals with Spruce to help you reach your financial goals. You can save for short-term or long-term goals and track your progress in the Spruce app.
Free Credit Score
Spruce customers can access their free credit score in the app, which is updated automatically monthly.
Cashback Offers
Spruce offers cashback at select merchants when you use your Spruce debit card. You can receive up to 10% cash back on select purchases with your free debit card.
No Hidden Fees
Spruce does not charge any hidden fees or monthly maintenance charges. You can access your money anytime with no monthly minimum balance requirements.
Early Payday
Spruce offers early access to direct deposits up to two days before the traditional payday.
Fee-Free Overdraft
Spruce offers fee-free overdraft protection up to $20, so you can cover unexpected expenses without worrying about incurring fees.
Automatic Tax Refund Allocation
Automatically allocate a certain amount of your tax refund to be saved and invested in an emergency fund or long-term savings goals.
Fee-Free ATMs
Access 55,000+ Allpoint ATMs around the world for free.
Fees & Pricing
Spruce Money Fees & Pricing
| Monthly Fee: | $0.00/mo |
| Sign-up fee: | $0.00 |
| Minimum balance fee: | $0.00 |
| Foreign transaction fee: | $0.00 |
| In-network ATM withdrawal: | $0.00 |
| Checkbook: | $15.00 per package of 25 checks |
| Out-of-network ATM withdrawal: | $3 per withdrawal (plus ATM owner fees) |
| Expedited shipping physical card delivery: | $15.00 |
| Over-the-counter cash withdrawal: | $4.95 per withdrawal |
| Third-party money transmitter: | Up to $4.95 |
Compare
How does Spruce Money compare?
Banking, loans, & More All In One
Sign-up bonus (Currently at $300)
Need direct deposit to get 4.50% APY
Live support can be slow
High APY savings account (5.05% APY)
Free ATM reimbursements (Up to $30/mo)
No ATM network
Mobile check deposits sometimes take a while to clear
Highest sign-up bonus ($300)
24/7 live support
Some accounts don't earn high-interest
Service fees can be high
Bottom Line
Is Spruce Money for you?
Spruce is a great option for those looking for a free and easy way to manage their finances on the go. Spruce makes managing your money stress-free with no monthly fees, cashback rewards, early direct deposit access, and fee-free ATMs worldwide. Plus, with its budgeting tools and savings goals feature, you can easily save up for short-term or long-term financial goals.
For customers who don't need high-interest rates on their savings accounts, Spruce is an excellent choice. This may not be the best option if you're looking for more features like credit cards or loans.
