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 fintech company with 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.

From $0 per month

Fee

4.00%

APY

$0

Minimum deposit to open

Details

APY4.00% on balances of $0.01 to $2,000 per savings pod for those ages 18 and older.
Fee$0 per month
Minimum deposit to open$0
ATMsover 40,000 in-network Allpoint ATMs in the U.S without ATM fees
ATM transaction fee$0
Out-of-network ATM fee$2.50
Foreign transaction fee3%
Overdraft fee$0
Avatar

Review by


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 review

Current 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, and a generous 4% APY on your Savings Pods.

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.

How much does Current cost?

The Current account has no monthly fee and comes with early direct deposits, three savings pods, budget for different categories of spending and up to $200 in overdraft protection if you overspend your account.

How do I open a Current account?

Open this account through your mobile phone in seven simple steps:

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

Eligibility

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

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

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 7 to 10 business days, or longer depending on USPS.

Benefits of the Current card and account

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

  • Strong APY. Start earning a whopping 4.00% APY on your Savings Pod balance up to $2,000. You can open a total of three Savings Pods that earn interest.
  • Earn rewards. Earn up to 15x the points when you use your debit card at one of 14,000+ participating merchants. Then, redeem them for cash to your Current account.
  • No balance requirements. You can open this account with $0 with no requirement to maintain a minimum balance.
  • Tools. This account gives 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 you to overdraft up to $200 using the debit card. To qualify, users must set up direct deposits and meet certain account and spending history requirements.

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 AllPoint 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 to 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:

  • Maximum debit card balance. Current only allows you to hold a balance of up to $10,000 on your debit card at a time.
  • Limited support options. While you can email customer service or live chat with a representative 24/7 directly in the Current app, it doesn’t offer phone support.
  • Charges for cash deposits. You can add cash by visiting a participating store, letting the cashier know you want to deposit cash into your account, but there’s a $3.50 fee for each cash deposit transaction made. To make the deposit, the cashier will scan your Current app barcode.

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, 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 complaints

Current isn’t accredited or rated with the Better Business Bureau. It’s ranked 1.63 out of 5 stars based on 46 reviews and has close to 500 complaints lodged against it in the past year as of March 2022. On a brighter note, customers on Trustpilot have a better opinion of Current, giving it a 4.0 out of 5-star rating based on 1,570 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.

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Compare up to 4 providers

How do I deposit or withdraw money?

Deposits

  • Mobile check deposit
  • Phone or online transfer
  • Direct deposit
  • At any one of the 60,000 participating stores

Withdrawals

  • 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:

  1. Submit a request via the contact form on the Current website
  2. Start a live chat in the Current app
  3. Email support@current.com

Frequently asked questions

Checking account ratings

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★★★★★ — 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.

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8 Comments

  1. Default Gravatar
    Allen
    December 5, 2019

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

    • Avatarfinder Customer Care
      Charisse
      December 5, 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

  2. Default Gravatar
    Deniesa
    November 6, 2019

    Does this card work in Jamaica?

    • Avatarfinder Customer Care
      Joshua
      November 6, 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

  3. Default Gravatar
    Reggie
    October 29, 2019

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

    • Default Gravatar
      nikkiangco
      October 30, 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

  4. Default Gravatar
    Anthony
    October 26, 2019

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

    • Avatarfinder Customer Care
      Charisse
      October 27, 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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