Spruce Mobile Banking Promotion: $50 Sign-Up Bonus

Get a $50 sign-up bonus when you open a Spruce banking account and make a total of $200 or more in direct deposits.

Full details of this Spruce promotion and other available offers, bonuses, and promos below.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

What is Spruce?

Spruce is a mobile banking platform that has been created by H&R Block to offer users a range of benefits including automatic cash back rewards at select retailers, fee-free access to over 55,000 ATMs, and the ability to receive paychecks up to two days early.

There are no monthly fees or minimum balance requirements to worry about. Plus, new users will receive a $50 bonus when they complete qualifying direct deposits.

Spruce Banking Promotions

Offer #1: Spruce $50 Sign-up Bonus

Earn a $50 bonus when you open a Spruce banking account and complete direct deposits totaling $200 or more.

How To Get Welcome Bonus:

  1. Open a Spruce account using this link.
  2. Make a total of $200 or more in direct deposits within 45 days of account opening.
  3. Receive a $50 bonus within 14 days of completing the offer requirements.
Spruce Mobile Banking $50 Bonus
(Image from Spruce Mobile Banking)

Offer Details

Availability: Nationwide
Expiration: 6/30/23
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, $200 within 45 days (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: None

Offer Terms & Conditions

  • Offer from H&R Block.
  • Offer requires 1) opening of new Spruce Accounts before the promotion expiration date; and 2) $200 in qualifying direct deposits within 45 days of opening.
  • Qualifying direct deposits are ACH credits, including direct deposits (but not tax refunds).
  • Deposits that do not qualify are mobile check deposits, internal transfers, transfers within Spruce from external accounts, or cash transfers.
  • $50 will be deposited within 14 business days after completing all requirements.
  • Spruce Accounts may not be closed or restricted at payout.
  • You are responsible for tax treatment of funds.
  • Limit one per customer. May be modified or discontinued at any time.

The Bottom Line

Spruce is another easy sign-up bonus from a fintech platform. Similar offers that have been popular on this site include the Chime bonus ($100), Go2Bank referral bonus ($50), MoneyLion welcome bonus ($55), Current.com promo ($50), Upgrade Rewards Checking bonus ($50), and the Juno sign-up offer ($10).

I’m really starting to think that the marketing folks at these companies are switching back and forth between fintech platforms as the welcome bonuses as remarkably similar.

The current banking crisis have made people nervous, and rightly so, but there’s nothing to worry about in the context of what we’re doing. Your money is insured up to $250,000 via the FDIC.

Spruce is owned by H&R Block, which isn’t a bank. But the account and funds are held by Pathward N.A., which is FDIC-insured (FDIC Cert #30776).

While most of the fintech mobile apps aren’t technically banks, the banking products themselves are offered by actual banks with FDIC insurance.

I’ve done almost all of the available bank bonuses I’ve listed on this site and have no reservations about the safety of money.

Spruce fintech platform is built by H&R Block, which is not a bank. Bank products by Pathward, N.A., Member FDIC.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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