What is Branch?
Branch is a technology company that provides workers with fast, easy access to their earnings through a digital banking experience. Branch is not a bank.
Branch Cards. Branch offers workers a Mastercard debit card (the “Branch Card”), which is issued by Evolve pursuant to a license issued by Mastercard. The Branch Card may be used everywhere Mastercard is accepted and is linked to a bank account at Evolve (“Branch account” and, together with the Branch Card, the “Branch Wallet”) which is eligible for up to $250,000 in FDIC insurance coverage. Unless otherwise specified, all other products and services offered by Branch or through the Branch App, such as certain of the Financial Wellness Tools, are not insured by the FDIC, are not deposits, and may lose value.
Personalized vs Instant Cards. Your Branch Card will either be a personalized card with your name on it or, if elected by your employer, a non-personalized instant Branch Card provided to you by your company. Either type of Branch Card can be activated and used with the Branch App.
Branch Onboarding. To open a Branch account, you will need to download the Branch App and complete the account opening process, which includes agreeing to Branch’s terms and conditions, the Evolve Cardholder and Deposit Agreements, and acknowledging the privacy policies of Branch and Evolve and the Branch e-Sign disclosures. If you’re using Branch’s Earned Wage Access service (on-demand pay) or have an Essential account, there will be separate disclosures. All applicants must meet Evolve’s eligibility criteria. To satisfy federal banking law requirements, we will collect certain information about you (such as identification, contact details, etc.) on behalf of Evolve. You agree that any information you provide will be accurate, correct, and up to date. This information will be shared with Evolve and Branch’s onboarding vendors as needed. Availability and use of funds deposited to your Branch Account may be delayed or denied, with or without notice, in the event of technology malfunctions or pursuant to compliance with legal or regulatory responsibilities.
ATM Fees: You are entitled to up to 8 free withdrawals within the Allpoint ATM network in a calendar month. Additional ATM withdrawals at Allpoint ATM’s will cost $2.00 each. In addition, all ATM withdrawals at ATM’s which are not within the Allpoint ATM network will be subject to a $2.00 fee plus any additional fees set by the ATM owner. Use this link to find an Allpoint ATM near you.
Transfer Fees:
- Standard Transfers. Standard ACH transfers to or from the Branch account are free of charge. These transfers typically take 1-2 days to settle.
- Branch Direct. For transactions processed through Branch Direct, the fee is 2% of the transaction amount, with a minimum fee of $2.99, unless your payor has contracted for a lower fee.
- Instant Transfers*.
- For consumer accounts (for W-2 workers), the fee for instant transfers from your Branch Account is $2.99-$4.99 (based on amount).
- For business accounts (for 1099 workers), the fee for Instant transfers from your Branch Account is the greater of $2.99 and 2% of the transaction amount.
The Branch App may not be used to facilitate fraudulent or illegal transactions. Branch or Evolve may suspend or terminate any account that either determines is being used in a manner which violates: (a) any federal or state law or regulation, (b) the policies of Branch or Evolve, or (c) the rules of Mastercard or any payment network. An account may also be suspended or terminated if Branch concludes that it is being used in a manner which jeopardizes Branch’s relationship with Evolve, Mastercard, or any payment network. Branch or Evolve may (but shall have no obligation to) monitor your account activity and may suspend or deny access to account services if either determines, in its sole discretion, that there is illegal, or suspicious activity occurring. Neither Evolve nor Branch shall have any liability to the account holder for any adverse financial or other consequences that may result from any action taken pursuant to this Section unless caused by gross negligence or willful misconduct.
* While most Instant Transfers are settled within 24 hours, occasionally system or network issues may delay payment. Branch will notify you of any delays it becomes aware of.