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Current card and checking account review

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A mobile-only checking account that earns up to 15x the points on debit card purchases.

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 cashback rewards and spending tools that help you manage money more efficiently. However, customers don’t seem too happy with the account thanks to lengthy holds on funds and poor customer service, among other things.

$0 per month

Fee

N/A

APY

$0

Minimum deposit to open

Details

Fee$0 per month
Minimum deposit to open$0
ATMsAnywhere Visa is accepted
ATM transaction fee$0
Out-of-network ATM fee$2.50 Subject to ATM operator fee
Foreign transaction fee3%
Overdraft fee$0

Expert review

Peter Carleton

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 checking account packed with money managing tools and resources. With a Current card and checking 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.

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 checking 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

What are the benefits of the Current card and 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.
  • 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 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.
  • 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.

If you prefer a traditional bank account, you’ll want to keep looking. As always, explore your options when choosing a checking account.

Compare Current with other digital bank accounts

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Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC.
SoFi Money
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Chime Spending account
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38,000 fee-free ATMs nationwide
$2.50
Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Digit
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Digit analyzes your spending and automatically saves an appropriate amount every day so you don't have to think about it.
Lili
$0
32,000 fee-free ATMs nationwide
$2.50
A checking account designed for freelancers with no account fees and no minimum balance.
Level
$0
Any ATM that accepts Visa
Earn up to 1.5% cash back on qualifying debit card purchases and 0.50% APY on deposits.
N26
N26
$0
Fee-free ATM withdrawals at Allpoint ATMs
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A digital bank account with no hidden fees, no minimum account balance and no maintenance charges.
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How do I deposit or withdraw money?

Deposits

In order to open the Current checking 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 the Current checking 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)

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.

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

    • Avatarfinder Customer Care
      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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