Is Spruce a real bank?

Last updated: December 28, 2023

Spruce is not a bank — it is a financial technology platform. Banking products you access through Spruce are provided by Pathward®, N.A., Member FDIC.

Spruce provides access to secure banking services like Spending and Saving accounts, digital and physical debit cards, as well as other non-banking services, like insight into your credit score.

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Spruce Rewards powered by Dosh. Offers vary by user, merchant location and offer period. Check the app for offers. Cash back will be deposited in your Savings Account. See Spruce Rewards powered by Dosh Terms for details.
Early access depends on when payment is submitted. Funds are generally made available when payment instruction is received, which may be earlier than scheduled payment date.
No fee to withdraw money at Allpoint^® ATMs. $3 fee at other ATMs, plus any ATM operator fee.
Credit score is FICO^® Score 8 based on Experian data. Your lender or insurer may use a different FICO Score than FICO Score 8, or another type of credit score altogether. FICO^® is a trademark of Fair Isaac Corporation. This is a separate service from your Spruce Spending and Savings accounts, provided by Pathward®, N.A., Member FDIC.
Courtesy Coverage only available for purchase transactions, ATM withdrawals, and over-the-counter withdrawals using your debit card. It is a discretionary courtesy, not an extension of credit. Requires opt in and $200 in qualifying deposits over prior 35-day period. Negative balances are limited to $20 and must be repaid within 30 days. See Spending Account Agreement for details.
Does not change IRS refund processing speed. Claim is based on making federal refunds available when payment instruction is received, which may be earlier than scheduled payment date. Depends on timing of the IRS’s payment file. Available only for federal refunds. May be changed or discontinued at any time.
Mobile check deposit available after you have deposited at least $200 in the past year and your accounts have been open for 30 days. Click here for full terms and limitations.
The Annual Percentage Yield (APY) is accurate as of 11/15/2024. This rate is variable and can change without notice. Fees may reduce earnings. To start earning interest on your Spruce Savings Account, simply opt in through the Spruce app or at sprucemoney.com.

Is Spruce a real bank?

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