Branch reveals Zero-Fee Banking, in partnership with Mastercard and Evolve

The company partnered with Mastercard and Evolve Bank & Trust (Evolve) to offer a free, digital checking account, and debit card for hourly workers to facilitate their financial stability. With the new Branch Mastercard debit card and account, Branch will offer instant paycheck advances at no cost. Branch debit card holders can instantly access a portion of their earned wages ahead of their paycheck for free. Moreover, users will have the ability to deposit and receive their funds without any fees or minimum balance requirements.

Branch works with employers to provide financial wellness benefits to attract and retain their hourly workforce. Its program aims to help employers save on turnover, overtime, and paper check costs. Branch is working with the Mastercard network and Evolve, which is FDIC insured, to issue the debit card.