Branch is a financial technology company, not a bank. Your funds are held at an FDIC-insured partner bank—Lead Bank or Evolve Bank & Trust—so they're eligible for coverage up to $250,000 if that bank fails and certain deposit insurance requirements are met. This guide explains what FDIC insurance covers, who provides it, and which funds are eligible.
Is my Branch account FDIC insured?
Yes. The funds in your Branch account are held at one of our FDIC-insured partner banks—Lead Bank or Evolve Bank & Trust. Those funds are eligible for FDIC insurance up to $250,000 per depositor, per insured bank, for each account ownership category. This insurance protects your funds if the partner bank that holds them fails, provided specific deposit insurance requirements are met. Branch itself is not a bank and is not FDIC-insured; the insurance is provided by the partner bank that holds your funds.
Who provides the FDIC insurance for my account?
FDIC insurance is provided by the partner bank that holds your funds—either Lead Bank or Evolve Bank & Trust, depending on your account. Both are FDIC-insured institutions.
What does FDIC insurance cover?
FDIC insurance protects your deposits, up to $250,000 per depositor, per insured bank, for each account ownership category, if the partner bank that holds your funds fails. It does not protect against losses from fraud, theft, or investment losses.
Example: If you hold $200,000 in a Branch account at the partner bank that holds your funds, and that bank fails, all $200,000 is eligible for FDIC insurance because the balance is within the $250,000 coverage limit.
Are all funds in my account covered by FDIC insurance?
The first $250,000 of only U.S. dollar funds held at or transferred to the partner bank that holds your funds—Lead Bank or Evolve Bank & Trust—is eligible for FDIC insurance.
Is Branch a bank?
No. Branch is a financial technology company, not a bank. Banking services are provided by Lead Bank or Evolve Bank & Trust.
Branch is not a bank. Banking services are provided by Lead Bank, Member FDIC and Evolve Bank & Trust, Member FDIC, which are Branch’s bank partners. The name of the bank partner for your account is listed on the back of your debit card and can also be found in the Branch App under “Your Account Information”. FDIC insurance only applies to eligible accounts should the bank holding your funds fail. Branch Mastercard Debit Cards are issued by Evolve Bank & Trust or Lead Bank, Member FDIC, as applicable, pursuant to a license from Mastercard and may be used everywhere Mastercard debit cards are accepted.