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Our verdict

This account earns up to 15x the points on purchases and 4.00% bonus on the first $2,000 you keep in each savings pod.

Current is a fintech company with banking services provided by Choice Financial Group and Cross River Bank. There are no monthly fees, no overdraft fees and no minimum balance requirements to use the account. Plus, you can create three savings pods and earn up to 4.00% bonus on up to $2,000 in each pod if you set up qualifying direct deposits. When you get a Current account, you can pair it with Current's Visa Debit Card for everyday use or its secured charge card, called Current Build, which can help you build a positive credit history with no annual fees and no interest charges. You can also apply for Paycheck Advances with no credit check. On the downside, you can only access your Current account via its app and you can't open joint accounts.

Best for: Those in need of an all-in-one account with low fees and credit-building options.

Pros

  • No monthly fee or opening deposit requirement
  • 4.00% bonus on up to $2,000 in each savings pod with direct deposits
  • Earn up to 15x in cashback rewards
  • Builds credit history with the Current Build card

Cons

  • No joint accounts
  • $3 plus 3% on international ATM withdrawals

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Who is Current best for?

Current is best for someone who prefers online banking and wants a low-maintenance card. The Current account comes with a myriad of great features with no monthly fees — including a high bonus on its savings pods and cashback rewards.

Current is also best for someone looking to build up their credit score as its Current Build Card allows you to build credit safely with no interest charges and no annual fees.

What we like about Current

Current isn’t a bank — it’s a fintech with banking services provided by Choice Financial Group and Cross River Bank, which provides FDIC insurance of up to $250,000. Current has over four million customers to date.

Current sets itself apart from the competition by providing an all-in-one account with spending, saving and credit-building features. Having a Current card means you can get early direct deposits, overdraft protection, no monthly fees and much more.

And if you get the Current Build card, you can start building a credit history without a hard credit pull and no APR.

Build credit safely

The Current Build card is a secured credit card. Unlike most other secured credit cards, it has no annual fee and no interest charges. Plus, there’s no hard credit pull when you apply.

The Current Build card’s spending balance is based on funds you add to your Current account. As you pay down your spending balance, your timely payments are reported to TransUnion, helping you build a positive credit history. But keep in mind that if you don’t pay off your balance on time, you’ll incur a 3% late fee of the total balance due.

Control your budget

A unique feature of Current is its budgeting option. Current lets you set up budget categories with their own spending limits. Once you set it up, Current tracks your spending in each category and alerts you when you get close to your limit.

Savings pods with high bonus

Current lets you create up to three separate savings pods, each earning up to 4.00% bonus on up to $2,000 if you set up direct deposits of at least $200. This means you can earn up to 4.00% bonus on a total balance of up to $6,000 if you save $2,000 in each pod.

The 4.00% bonus on the pods is much higher than the average annual percentage yield (APY) on savings accounts, which currently sits at 0.45% according to the FDIC. But if you don’t set up direct deposits of at least $200 — you’ll only earn 0.25% bonus.

Points reward program

Current offers a cashback rewards program where you earn points redeemable for cash or other items. You earn points by spending at any of the 14,000+ participating merchants, including gas stations, local businesses and restaurants. Every 100 points earned is redeemable for $1.

Some participating businesses offer point multipliers, up to 15x, so you can rack up points faster. You can see offers available near you by logging into the app and selecting the Points tab.

The rewards system is similar to many credit card rewards programs, except with Current you won’t earn points for every purchase.

Paycheck advances with no credit check

Current now offers paycheck advances to qualifying users, simply called Paycheck Advance. Like most paycheck advance services, this optional feature is designed to bridge a financial app between paydays. There’s no credit check, the due date is your next payroll deposit, and most importantly, there’s no fee to apply or accept the advance. There’s also an instant delivery option for a fee that varies on your advance amount.

To be eligible, you must have set up payroll deposits from your employer, payroll provider or government payer to either your Current bank account, or to an external bank account you’ve linked to the Current app. There are other factors in eligibility as well, such as your deposit, spending, and transaction history. You can see if you’re eligible right in the Current app in the Money tab.

Unlocks Current Teen Banking

By opening a Current account, parents can also open a Current Teen Banking debit card for their kids, which also has no monthly fees. There are no strict age requirements, but it is designed for ages 13 to 17. It has strong parental controls and alerts, chore and allowance features, the ability to block transactions or specific merchants and much more.

Where it falls short

While you have the potential of earning a strong 4.00% bonus, it’s limited to $2,000 in each savings pod — equal to a total of $6,000 across your pods. If you’re after growing your savings, you’re better off putting your money in a high-yield savings account since you’ll earn a much higher rate on your entire balance.

But as a spend account, it’s worth it as its rate is much higher than the national average for checking accounts, which currently sits at 0.08%.

There are no designated Current ATMs, but Current won’t charge you for using any AllPoint ATM in the US. However, ATM owner fees may still apply, and there’s a $2.50 transaction fee for out-of-network ATMs. And if you’re traveling abroad, there’s a $3 plus 3% fee for international ATM withdrawals and a 3% foreign transaction fee.

If you prefer in-person customer support, you may want to look elsewhere. Current lacks physical branches. You also can’t access the account on Current’s site – only through the mobile app. And unfortunately, Current also doesn’t let you add another adult as a joint account holder, which can be a con for couples.

Current fees and access

Type of feeFee details
Monthly service$0
Opening deposit$0
ATMs
  • Domestic: $0 with Allpoint ATMs, $2.50 out-of-network fee
  • International: $3 fee plus 3% International transaction fee for withdrawals
Debit card fees
  • Cash withdrawals: $0 with Allpoint ATMs
  • Foreign transactions: 3%
  • Card replacement: $5 for regular delivery, $30 for expedited
Overdraft or nonsufficient funds$0
Wire transfersN/A
Other fees
  • Paper statements: N/A
  • Account closure: $0
  • Late payment on Current Build card: 3% of total balance due

Current reviews and complaints

Current has majorly increased its Better Business Bureau (BBB) rating, currently holding a near-perfect A rating, and is accredited by the BBB. Not too long ago, they were getting a large volume of complaints about poor customer service and have seemed to have turned that around.

Current also has an excellent 4.3-star rating on Trustpilot out of more than 5,000 customer reviews. That high of a rating is impressive, considering most online banks generally have very poor reviews and many reports of unresponsive customer support.

Many reviews praise the credit-building product and how it’s helped them build a better credit score. Other positive reviews cite helpful customer reps, state they love the overdraft protection and early direct deposit features, and rave about the user-friendly app.

Compare Current to other checking accounts

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Finder rating 4.6 / 5

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$0


Annual Percentage Yield (APY)

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Minimum deposit to open

$0

SoFi Checking and Savings logo

SoFi Checking and Savings

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Fee

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Annual Percentage Yield (APY)

4.60% on balances of $0+
0.50% on balances of $0+
1.20% on balances of $0+


Minimum deposit to open

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Fee

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Annual Percentage Yield (APY)

N/A


Minimum deposit to open

$0

Frequently asked questions

Is Current legit?

Yes, Current is a legitimate fintech with banking services. Your money is insured for up to $250,000 through Current’s issuing bank, Choice Financial Group and Cross River Bank. Current also uses several security protections to keep your information safe.

How do I contact customer service?

You can contact Current in one of these ways:

  • Start a live chat in the Current app
  • Call at 1-888-851-1172
  • Submit a request via the contact form on the Current website
  • Email support@current.com

Can I deposit cash with Current?

Yes, you can. While Current has no physical branches, you can deposit cash at select stores. To find a store to deposit cash, go to the Current app, select the Money tab, then hit the Add Cash map to generate a list of locations near you.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

Your reviews

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Bethany Finder

Editor, Banking

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Allen

December 05, 2019

Can you withdraw money with a negative balance at the ATM with the Current card?


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Charisse Finder

December 05, 2019

Hi Allen,


Thanks for reaching out to Finder.


Both the Premium and Basic checking accounts that Current offers does not allow overdrafts so you can’t withdraw/spend more than your available balance.


You may also contact Current directly and verify this information with them.


I hope this helps.


Cheers,

Charisse


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Deniesa

November 06, 2019

Does this card work in Jamaica?


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Joshua Finder

November 06, 2019

Hi Deniesa,


Thanks for getting in touch with Finder. I hope all is well with you. 😃


Yes, the Current card should work wherever Visa is accepted and can be used to withdraw cash from ATMs while in Jamaica. There are some fees you should be aware of though before your travels. This is mentioned above.


However, if you are going to open a Current Checking Account in Jamaica, you might not be able to do so especially if you don’t have a Valid US residential address.


Before you open an account, I would advise that you check their terms, conditions, and eligibility requirements to know if this is the right account for you.


I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.


Have a wonderful day!


Cheers,

Joshua


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Reggie

October 29, 2019

How do I retrieve my loan that were sent to Choice Financial Group three the current card


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nikkiangco

October 29, 2019

Hi Reggie,


Thanks for your comment and I hope you are doing well. While we review Current Checking Accounts on our page, it’s helpful to know that we don’t work with them directly and unfortunately, I am limited with only the information give on the page above. If you’d like to speak to Choice Financial, please head over to their official website and click the CONTACT US tab. You will find a contact form where you leave a message for them to review and contact you directly.


Hope this helps!


Best,

Nikki


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Anthony

October 26, 2019

I’m trying to find out what bank is backing the Current card.


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Charisse Finder

October 26, 2019

Hi Anthony,


Thanks for reaching out to Finder.


The Current card is issued by Choice Financial Group while the Current White Prepaid Visa Card is issued by Metropolitan Commercial Bank.


I hope this helps.


Cheers,

Charisse


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