Spruce Money Checking Bonus: A Quick $100 for Your Direct Deposit

If you're on the hunt for an easy bank bonus, Spruce Money—the fintech arm of H&R Block—is currently dangling a $100 carrot. The deal is straightforward: open a new Spruce checking account, set up a qualifying direct deposit of at least $500 within 45 days, and the money lands in your account. No monthly fees, no ChexSystems headache, and it's available nationwide except in Washington state. But before you jump in, let's break down the fine print so you know exactly what you're signing up for.

What’s the Catch? The Fine Print on Direct Deposits

The biggest hurdle is making sure your direct deposit qualifies. Spruce only counts ACH credits from an employer or government benefits (like Social Security or unemployment). Tax refunds don't count, and neither do transfers from other accounts, mobile check deposits, peer-to-peer payments like Venmo, or even other ACH credits that aren't from an employer or government. So if you're planning to shuffle money from your main bank account, that won't work.

Also, you need to open the account between September 1 and September 30, 2026. The $100 bonus is paid out within 14 business days after you've met the direct deposit requirement, but your account must remain open and in good standing at that time. If you close it early or it gets restricted, you forfeit the bonus.

• Qualifying direct deposits: employer payroll or government benefits (excluding tax refunds).
• Non-qualifying: transfers, mobile check deposits, peer-to-peer transfers, cash deposits.
• Bonus paid within 14 business days after meeting requirements, provided account is open.

Fees and Other Costs: The Good News

One of the best parts of this offer is that Spruce doesn't charge monthly maintenance fees. That means you can leave the account open after earning the bonus without worrying about fees eating into your $100. There's no clear information on an early account termination fee, but since there's no monthly fee, it's not a huge risk to keep it open for a while.

Another plus: Spruce does a soft credit pull, so your credit score won't take a hit when you apply. And they don't use ChexSystems, which is great if you've had past banking issues that might otherwise flag you.

• No monthly fees
• Soft pull on credit
• No ChexSystems check

How to Make This Bonus Work for You

If you have a regular paycheck or receive government benefits, this is a no-brainer. Just set up your direct deposit to route at least $500 to your new Spruce account within the first 45 days. Once the bonus hits, you can decide whether to keep the account for its features or move on.

But if you're self-employed or don't have a traditional direct deposit, this offer might not be worth the hassle. You can't just transfer money from another account and call it a day. You'd need to actually change your payroll or benefits deposit, which could take time and coordination with your employer or benefits provider.

Also, keep in mind that the $100 bonus is considered taxable income. You'll receive a 1099-INT or similar form, and you'll need to report it on your taxes. It's not a huge amount, but it's good to know in advance.

• Set up direct deposit from employer or government benefits to meet the $500 threshold.
• Ensure the account stays open until the bonus is paid.
• Remember the bonus is taxable.

Is This Bonus Worth Your Time?

Compared to other bank bonuses, $100 for a $500 direct deposit is a decent return. It's not the highest out there, but the low barrier to entry and lack of fees make it attractive. If you're already a fan of H&R Block or want a simple fintech account, this is a nice little perk.

One thing to note: Spruce previously offered a $100 referral bonus that could be stacked, but this offer explicitly states it can't be combined with any referral incentives. So if you have an existing Spruce account, don't try to refer yourself or others for this bonus—it won't work.

If you're in a two-player mode (like with a partner), you might have been able to earn more with the old referral system, but for most people, this is a straightforward way to pocket $100.

• Low effort for $100 if you have a qualifying direct deposit.
• No monthly fees mean you can keep the account open without cost.
• Offer ends September 30, 2026.

Bottom Line

• Open a Spruce Money checking account by September 30, 2026.
• Receive at least $500 in qualifying direct deposits within 45 days.
• Get $100 bonus within 14 business days after meeting requirements.
• No monthly fees, soft credit pull, and no ChexSystems check.
• Bonus is taxable; keep the account open until payout.

Common Questions