What is Instacart Shopper Rewards?
Instacart Shopper Rewards is a payments platform that provides fast, easy access to earnings for Instacart Shoppers. Instacart Shopper Rewards is “powered by” Branch, which means it operates using Branch’s technology platform. Branch is a technology company that provides workers with fast, easy access to their earnings. Banking services are provided by Branch’s partner banks, each of which is FDIC insured.
Instacart Shopper Rewards Cards. Instacart Shopper Rewards offers a business Mastercard debit card (the “Instacart Shopper Rewards Card”), which is issued by Lead Bank pursuant to a license issued by Mastercard. The Instacart Shopper Rewards Card may be used everywhere Mastercard is accepted and is linked to a bank account at Lead Bank (“Instacart Shopper Rewards account” and, together with the Instacart Shopper Rewards Card, the “Instacart Shopper Rewards Wallet”) which is eligible for up to $250,000 in FDIC insurance coverage. Unless otherwise specified, all other products and services offered through the Instacart Shopper Rewards App are not insured by the FDIC, are not deposits, and may lose value.
Instacart Shopper Rewards Onboarding. To open a Instacart Shopper Rewards account, you will need to download the Instacart Shopper Rewards App and complete the account opening process, which includes agreeing to Branch’s terms and conditions, the Lead Bank Cardholder and Deposit Agreements, and acknowledging the privacy policies of Branch and Lead Bank and the Branch e-Sign disclosures. All applicants must meet Lead Bank’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 Lead Bank. You agree that any information you provide will be accurate, correct, and up to date. This information will be shared with Lead Bank and Branch’s onboarding vendors as needed. Availability and use of funds deposited to your Instacart Shopper Rewards 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 ATMs will cost $3.50 each. In addition, all ATM withdrawals at ATMs which are not within the Allpoint ATM network will be subject to a $3.50 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 Instacart Shopper Rewards account are free of charge. These transfers typically take 3-5 days to settle.
- Instant Transfers. For business accounts (for 1099 workers), the fee for Instant transfers from your Instacart Shopper Rewards account is the greater of $3.99 and 3% of the transaction amount.
The Instacart Shopper Rewards App may not be used to facilitate fraudulent or illegal transactions. Branch or Lead Bank 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 Lead Bank, 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 Lead Bank, Mastercard, or any payment network. Branch or Lead Bank 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 Lead Bank 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.