App Update: Digital Wallet Required to Use Branch
Branch is constantly searching for ways it can make accessing and managing money faster, cheaper and more convenient for our customers. That’s why in July, Branch removed the Branch Card waitlist, making the Digital Wallet and Branch Card immediately available for all users. Beginning in mid-August, all Branch users will be required to sign up for a Digital Wallet in order to continue using features like Instant Pay. The Digital Wallet and Branch Card are completely free to sign up for and gives you access to 40,000+ no-fee ATMs, a free checking account with no overdraft fees, and a debit card you can swipe anywhere MasterCard is accepted.
What does this mean for you? If you use our Instant Pay feature to take pay advances before payday, your advance will go directly into your Branch Digital Wallet without any fees. From your Digital Wallet you can:
- Avoid the transfer fee and spend it with your Branch Card
- Withdraw from an ATM (there are no ATM fees for Branch users at the Allpoint ATMs located in Target, CVS, Walgreens, Speedway, and more locations across the country)
- Access through Branch’s Apple Pay or Google Pay integration
- Or you can still choose to transfer it out to another bank account for the same fee structure of $2.99 for advances under $25, $3.99 for advances $26-74, and $4.99 for advances over $75.
If you usually transfer your Instant Pay directly to another bank account, in the coming weeks it will directly go to your Branch Digital Wallet, and from there you can transfer out for a fee.( Pro tip: there are no fees when you choose to spend directly from your Digital Wallet!)
Next Steps: Remember, because you will not be able to use Instant Pay if you don’t have a Digital Wallet by mid-August, we recommend you sign up for the Digital Wallet now to ensure you are always able to take an advance when you need to.
Another reason to sign up now - when you sign up for a Digital Wallet between now and August 31, 2020, you will also be entered into our Bill Credit Giveaway, giving you the chance to win extra money into your Branch Wallet and to help pay some of your bills!