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Current checking account review
A mobile-only checking account with spending insights and more.
finder.com’s rating: 3.8 / 5.0
★★★★★
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.$0
Monthly fee
$0
Minimum deposit to open
Expert review
Review by
Peter Carleton
peter.carleton@findercrew.comPeter 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 checking account packed with money managing tools and resources. With a Current checking account you’ll get insights on your spending and savings.But it’s only available as a mobile app, so you won’t have access to online or in-person banking.
What are the benefits of the Current checking account?
Beyond the $250,000 of FDIC insurance and it’s mobile platform, this account offers a few key benefits:
- Two personal checking options. The Basic checking 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.
- 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. Both the Basic and Premium accounts give you access to spending insights, savings pods and instant transfers that help you manage your money.
- 24/7 live chat. Reach out to Current customer support at any time by starting a live chat through the mobile app.
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 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?
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.
- Possible debit card fees. A customer representative contacted us to say that there’s no $3 debit card and $2 paper statement fee associated with the personal checking account. But we can’t confirm these claims since the fees are currently listed in the debit card’s agreement.
- Few account features. Besides the spending tools, the free account doesn’t offer rewards, signup bonuses, interest or any other standout features. The Premium account has early direct deposits, but other banks offer this service for free.
- Poor customer reviews. Many customers have left negative reviews about this account on Trustpilot. Issues include long processing and transfer times, poor customer service, hidden debit card fees, lengthy holds on funds and more.
If you prefer a traditional bank account, you’ll want to keep looking. As always, explore your options when choosing a checking account.
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How do I apply?
This account can only be opened on a mobile phone, here’s how:
- Visit the Current website to 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.
Eligibility
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?
Deposits
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
Withdrawals
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:
- Submit a request via the contact form on the Current website
- Start a live chat in the Current app (Weekdays 9 a.m. to 8 p.m. ET)
- By phone at 888-851-1172 (Weekdays 9 a.m. to 6 p.m. and Saturday 9 a.m. to 5 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.