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Current checking account review

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A Mobile-only checking account with spending insights and more, but there’s a maximum balance of $10,000 and a $36 annual fee

Current is a mobile-only checking account that’s designed to make banking quicker and easier with spending tools that help you manage money more efficiently. However, customers don’t seem too happy with the account and there’s a $3 monthly fee that’s billed annually.


Monthly fee


Minimum deposit to open


Monthly fee$0
Minimum deposit to open$0
ATMsAnywhere Visa is accepted
ATM transaction fee$0
Out-of-network ATM feeSubject to ATM operator fee
Foreign transaction fee3%
Overdraft fee$0

What are the benefits of the Current checking account?

Beyond the $250,000 of FDIC insurance, this account offers a few key benefits:

  • Mobile-only. Access and manage your money from anywhere using only your smartphone.
  • Fee-free ATM use. Current won’t charge you when using any ATM in the US.
  • No balance requirements. You can open this account with $0 with no requirement to maintain a minimum balance.
  • Tools. Get access to spending insights, savings pods and instant transfers. Plus, if you sign up for premium, you can get your paycheck direct deposited two days early.
  • Teen banking. A parent-monitored account can help teach teens responsible financial habits with savings goals, round-ups, allowance, chores and more. Teen banking comes with a $36 annual fee per teen, plus other fees.

Current ATM network and fees

This account comes with a Visa debit card with chip technology, meaning you can safely shop almost anywhere. There are no designed Current ATMs, but the bank won’t charge you for using any ATM in the US. However, ATM owner fees still apply and the company charges $3 for foreign ATM withdrawals plus 3% of any transaction.

What should I look out for?

This account could be a good fit for mobile users, but there are a few things you should look out for:

  • Few account features. Besides the spending tools, this account doesn’t offer rewards, signup bonuses, interest or any other standout features.
  • No branches. You won’t be able to visit a branch for help with your account.
  • Poor customer reviews. Many customers have left negative reviews about this account. Issues include long processing and transfer times, poor customer service, lengthy holds on funds and more.
  • Fees. While there’s no monthly fee for the basic checking account, there’s a $3 monthly fee (billed annually) for the debit card, $2 paper statement fee and $5 card replacement fee. If you want to upgrade to the Premium account, you’ll need to pay another $4.99 per month.
  • Maximum balance. Current only allows you to hold a balance of up to $10,000 in your account.

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How do I apply?

This account can only be opened on a mobile phone, here’s how:

  1. Visit the Current website to text a download link to your mobile phone or visit your phone’s app store and download the app.
  2. Open the app and tap Get started.
  3. Enter your phone number, tap Next, then verify the code sent to your phone.
  4. Allow camera access then upload photos of your driver’s license and a selfie to verify your identity.
  5. Current will take up to one business day to review your documents.
  6. Once your documents have been approved, proceed to enter your personal information.
  7. Agree to account terms and conditions, link a funding account, then submit your application.


In order to open this account, you must meet a few eligibility requirements:

  • Social Security number and/or Tax ID
  • Government issued ID
  • Valid US residential address
  • A smartphone that can
    • Receive SMS messages
    • Take pictures

Required Information

When you apply for this account, you’ll need to provide the following information:

  • Name and date of birth
  • Mailing address
  • Phone number
  • Email address
  • Social Security or tax ID number
  • Driver’s license or other state-issued ID

How do I deposit or withdraw money?


In order to open this account, you must meet a few eligibility requirements:

  • Mobile check deposit
  • At an ATM
  • Phone or online transfer
  • Direct deposit


When you apply for this account, you’ll need to provide the following information:

  • At an ATM
  • Phone or online transfer
  • Cashback from participating merchant

How do I contact Current customer service?

If you need to reach Current customer service, there are three ways you can get in touch:

  1. Submit a request via the contact form on the Current website
  2. Start a live chat in the Current app (Weekdays 9 a.m. to 8 p.m. ET)
  3. By phone at 888-851-1172 (Weekdays 9 a.m. to 6 p.m. and Saturday 9 a.m. to 5 p.m. ET)

Bottom line

Current is an innovative checking account that comes packed with tools and resources that help you better manage your money. It’s great for mobile users but isn’t available on desktop or at a branch, so if you want a more traditional banking experience, you might want to compare other checking options to explore other accounts.

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