Spruce Review — A Mobile Banking Platform Built by H&R Block: An In-Depth Analysis

Spruce is a mobile banking platform designed and built by H&R Block, a widely recognized tax preparation company. Though H&R Block is not a bank, the platform provides a range of mobile banking services supported by Pathward, N.A. (member FDIC), allowing users to conveniently manage their finances and grow their savings with a user-friendly interface.

As a modern fintech platform, Spruce offers customers the advantage of accessible banking services and tools to enhance their financial wellbeing. With features such as cash back rewards, FDIC-insured Savings and Spending accounts, and resources for smart money management, Spruce aims to become a go-to solution for those seeking an innovative and seamless banking experience.

Security is a top priority for the Spruce mobile banking platform, and the app supports user-friendly functionality designed with financial growth in mind. With no monthly or sign-up fees, this app offers a cost-effective option for those looking to manage their money efficiently and effectively.

Overview of Spruce

Spruce is a mobile banking platform built and backed by H&R Block, a well-known tax preparation company. Although H&R Block is not a bank, Spruce offers an array of mobile banking capabilities supported by Pathward, N.A., a member of the FDIC.

This fintech platform provides users with a convenient and flexible solution for managing their day-to-day funds and longer-term savings. The Spruce mobile banking app offers various features to help users make the most of their tax refunds, get paychecks up to two days early, and earn cash back rewards at select retailers.

Some of the key features of Spruce include:

  • No monthly fees
  • No sign-up fees
  • No minimum balance
  • No credit check to apply
  • $50 bonus when receiving qualifying direct deposits

Users can access Spruce’s banking services through the mobile app, which is available for download on the Google Play Store and Apple App Store. With this app, customers can deposit checks anytime and anywhere, making it easy to manage their finances on the go.

Account Features and Benefits

Spruce, a mobile banking platform created by the tax preparation company H&R Block, offers users an assortment of features and benefits that cater to their financial needs. The platform is designed to help users track their spending, earn cash rewards, check their credit scores, and set savings goals, among other useful tools.

One of the most notable features of Spruce is its lack of sign-up and maintenance fees. The platform does not charge any monthly or annual fees, providing a cost-effective solution for users to manage their financial life. In addition, Spruce allows qualified users to receive their tax refunds and paychecks up to two days early, giving them quicker access to their funds.

Using Spruce, customers can access FDIC-insured spending and savings accounts provided by Pathward, N.A., Member FDIC. These accounts are designed to help users manage their money efficiently and securely. Furthermore, the platform offers cash back rewards at select retailers, allowing users to earn on everyday purchases.

Spruce also incorporates a user-friendly interface that promotes setting and tracking personalized savings goals. The platform nudges users to create financial objectives and provides the tools to help them stay on track.

Fees and Pricing

Spruce, a mobile banking platform built by H&R Block, features a fee structure that is designed to be beneficial for its users. The platform stands out with its absence of sign-up fees or maintenance fees (monthly and annual), ensuring affordability for frugal users.

While Spruce isn’t entirely “fee-free,” it boasts a minimal fee system overall. The platform offers services like no monthly fees, no sign-up fees, no minimum balance, and no credit check to apply. Furthermore, there are no overdraft fees up to $20.

Users also have access to thousands of fee-free ATMs nationwide, making cash withdrawals and deposits relatively affordable. However, it’s worth noting that Spruce does charge a fee (not their fee) of up to $4.95 for certain services.

Security and Privacy

Spruce, being a mobile banking platform built by H&R Block, places a strong emphasis on security and privacy. H&R Block has over 65 years of experience in helping people with their finances, and this expertise extends to their Spruce platform.

One of the key security features provided by the Spruce platform is the use of a more secure way to log in. This helps protect user information and maintain the integrity of their financial data.

Although H&R Block is not a bank itself, it has partnered with Pathward, N.A., a Member FDIC, to provide banking products, ensuring the platform’s adherence to strict banking regulations and guidelines. This partnership guarantees that the Spending and Savings accounts offered by Spruce come with the security of FDIC insurance.

In addition to these features, Spruce is committed to maintaining user privacy by adhering to the latest data protection standards and using secure encryption methods for data transmission. This helps ensure that user information remains confidential and protected from unauthorized access.

Customer Support

Spruce takes customer support seriously, providing users with multiple ways to get in touch for assistance. One of the easiest methods is through the in-app chat, allowing for quick and convenient communication with the support team. This feature eliminates the need to make a phone call, enabling users to resolve their issues efficiently.

Additionally, Spruce provides an extensive Help Center on their website. This resource offers informative articles and guides, helping users find answers to common questions on topics such as account setup, security, and using the app features effectively.

Users can also reach Spruce support via email at support@sprucemoney.com for more complicated issues or concerns. Although there is no mention of a phone support option, the combination of in-app chat, Help Center, and email ensures that users have accessible resources to address their concerns.

It’s important to note that Spruce, being backed by H&R Block, benefits from the experience and reliability of an established company. This adds credibility to the customer support provided by the mobile banking platform, giving users additional peace of mind.

Pros and Cons

Spruce, the mobile banking platform built by H&R Block, has several advantages and drawbacks to consider. Let’s explore them in detail:


  • FDIC insured Spending and Savings accounts through Pathward, N.A., providing security for your funds.
  • Convenient and flexible mobile banking capabilities that support day-to-day funds management and longer-term savings.
  • Early direct deposit and cashback on everyday purchases to help you earn more and save.
  • No hidden fees and an easy-to-use savings tool that automatically saves for you.


  • Lack of physical branches, as it is a mobile-only platform, which may not cater to those who prefer face-to-face banking services.
  • No interest-earning options in the current offerings, limiting potential returns on your savings.

When evaluating Spruce as a mobile banking option, it’s essential to weigh these pros and cons according to your specific needs and preferences. Consider its features and rewards to determine whether it’s the right fit for you.


Spruce, a mobile banking platform developed by H&R Block, offers users a convenient and flexible way to manage their personal finances. It is important to note that H&R Block is not a bank, however, the platform’s banking services are provided by Pathward, a federally-chartered bank.

The platform allows users to access features such as getting paychecks up to two days early, earning cashback rewards at select retailers, and providing a $50 bonus for qualifying direct deposits. Spruce is specifically designed to help users improve their financial situation without the burden of monthly fees, sign-up fees, or minimum balance requirements.

With its user-friendly interface, Spruce makes it simple for individuals to navigate and utilize its various tools and features. The platform’s security measures ensure that users can confidently manage their finances and trust that their personal information is well-protected.

In conclusion, Spruce offers a valuable and convenient option for those seeking a mobile banking platform that is user-friendly and focused on financial improvement. Its affiliation with H&R Block and partnership with Pathward Bank provide added security and peace of mind for its users.

Scroll to Top