Current card and account review
This debit card earns up to 15x the points on purchases.
finder.com’s rating: 4.6 / 5.0
★★★★★Current is a mobile app and debit card designed to make banking quicker and easier with cashback rewards and spending tools that help you manage money more efficiently. But you’ll need to upgrade to its premium plan to get extra features, including early direct deposits.
$0 per month
Minimum deposit to open
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
Expert reviewCurrent is best for those looking for an innovative account packed with money managing tools and resources. With a Current card and account you’ll get insights on your spending and savings. You’ll also earn up to 15x the points on debit card purchases, which can be redeemed for cash.
But it’s only available as a mobile app, so you won’t have access to online or in-person banking. In addition, it’s difficult to get ahold of Current if you’re not currently a customer and you may experience a delay on direct deposits.
How much does Current cost?
The Current basic account is free and comes with standard direct deposits, one savings pod, a budget for one category of spending and no overdraft fees.The Current premium account costs $4.99 a month and comes with early direct deposits, three savings pods, budgets for every category of spending and up to $100 in free overdraft protection when you receive a qualifying direct deposit.
How do I open a Current account?
Open this account through your mobile phone in seven simple steps:
- Click Apply now.
- From the Current website, text a download link to your mobile phone or visit your phone’s app store and download the app.
- Open the app and tap Get started.
- Enter your phone number, tap Next, then verify the code sent to your phone.
- Allow camera access then upload photos of your driver’s license and a selfie to verify your identity.
- Current will take up to one business day to review your documents.
- Once your documents have been approved, proceed to enter your personal information.
- Agree to account terms and conditions, link a funding account, then submit your application.
In order to open a Current 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
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
When will I receive my Current card?
You’ll receive a virtual card as soon as you open the account. Your physical Current card should arrive within seven to 10 business days, or longer depending on USPS.
What are the benefits of the Current card and account?
Beyond the $250,000 of FDIC insurance and it’s mobile platform, this account offers a few key benefits:
- Two personal options. The Basic account is free and has no fees, while the Premium account is $4.99 a month and comes with early direct deposits and gas hold refunds.
- Free ATM use. Current won’t charge you when using any ATM in the US.
- Earn rewards. Earn up to 15x the points when you use your debit card at one of 14,000+ merchants. Then, redeem them for cash or use them to pay for your Current subscription.
- No balance requirements. You can open this account with $0 with no requirement to maintain a minimum balance.
- Tools. Both the Basic and Premium accounts give you access to spending insights, savings pods and instant transfers that help you manage your money.
- Overdraft feature. Current‘s Overdrive feature, once enabled, allows select Premium users to overdraft up to $100 using the debit card. To qualify, users must set up direct deposits and meet certain account and spending history requirements.
- 24/7 live chat. Reach out to Current customer support at any time during the week by starting a live chat through the mobile app.
- Cash deposits. You can add cash to your account by using the Current app to find find a free ATM that accepts cash deposits or by visiting a participating store, letting the cashier know you want to deposit cash into your account. They’ll need to scan your Current app barcode. But there’s a $3.50 fee for each cash deposit transaction made.
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 designated Current ATMs, but Current 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?
While the account is best for mobile users looking for an online bank, there are a few things to look out for:
- Premium account fee. You’ll pay $4.99 a month if you choose the premium account.
- Maximum debit card balance. Current only allows you to hold a balance of up to $10,000 on your debit card at a time.
- Few account features. Besides the spending tools, the free account doesn’t offer signup bonuses, interest or any other standout features. The Premium account has early direct deposits, but other banks offer this service for free.
- No direct deposit with Basic plan. While the premium plan has access to direct deposit for up to two days early, the basic plan doesn’t. We spoke to customer service rep who said that “deposits made using your account and routing numbers will not be deposited instantly; it must pass from your employer’s bank and the Federal Reserve Bank before reaching Current.”
- Limited phone support. We tried calling Current several times and couldn’t get ahold of anyone. Every menu option said to start a live chat in the mobile app for help. Two Finder crew members also emailed Current. One never received a response and the other was told to contact them via chat or email for further questions as phone support is down during the pandemic.
If you prefer a traditional bank account, you’ll want to keep looking. As always, explore your options when choosing an account.
Is it safe to use Current?Current uses several security protections to keep your information safe. For example, its mobile app verifies your identity through fingerprint and facial recognition, and your debit card is equipped with an EMV chip for secured transactions. If you ever lose your card, you can pause it to prevent unauthorized spending and order a new debit card from the app.
The FDIC also insures your money for up to $250,000 through Current‘s issuing bank, Choice Financial Group.
Current reviews and complaintsCurrent holds a B rating with the Better Business Bureau but isn’t BBB accredited. It’s ranked 2.09 out of 5 stars based on 22 reviews and has had over 500 complaints lodged against it in the past year as of June 2021. On a brighter note, customers on Trustpilot have a better opinion of Current, giving it a 4.4 out of 5-star rating based on 1,416 reviews.
Customers enjoy its easy-to-use mobile app and online banking features. But some users complain about its poor customer service and lengthy holds on funds.
Compare Current with other digital bank accounts
How do I deposit or withdraw money?
- Mobile check deposit
- At an ATM
- Phone or online transfer
- Direct deposit
- At any one of the 60,000 participating stores
- At an ATM
- Phone or online transfer
- Cashback from participating merchant
- Send money to friends and family for free using Current Pay, but they’ll also have to be Current members.
How do I contact Current customer service?
If you need to reach Current customer service, there are three ways you can get in touch:
- Submit a request via the contact form on the Current website
- Start a live chat in the Current app (24/7 on weekdays and 9 a.m. to 8 p.m. ET on weekends)
- By phone at 888-851-1172 (Weekdays 9 a.m. to 6 p.m. ET)
Frequently asked questions
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.