Is Current A Good Bank?

What Is Current?

Current is an innovative financial technology platform designed to help Americans level up their financial health. It offers a debit card, and you can choose from one of three accounts that feature useful budgeting resources, saving pods, overdraft protection and earlier direct deposit, just to name a few. It was launched in 2019, and more than 3 million consumers have signed up to take advantage of all Current has to offer. 

Mobile Banking Done Better

5ad89d32b9098d0001b0a9daLoading TrustPilot
Discover Current Spend Account and read about how to open one, what benefits can give and how to manage your bank account online from the app.
5ad89d32b9098d0001b0a9daLoading TrustPilot
Learn how the Current mobile banking app makes it easy to manage your money and tap into all the perks the platform has to offer.

Is Current A Bank?

No, Current is not a bank. However, it offers select banking services through Choice Financial Group, Member FDIC. 

Benefits Of Current Banking App

There’s a lot to love about the Current app. But first, you’ll have to visit their website to get started with the mobile app and open a bank account. There are three account options to choose from: 

The Current Basic Account is free and includes: 

  • Basic White Visa debit card with secured chip 
  • Standard direct deposit 
  • One budget for a single spending category 
  • Valuable spending insights 
  • Instant purchase notifications 
  • One savings pod that earns up to 4 percent APY

The Current Premium Account is only $4.99 per month following a free 30-day trial, and you’ll receive the following: 

  • Exclusive Premium Visa debit card with Tap to Pay functionality 
  • Early direct deposit (up to two days) 
  • Multiple budgets for each of your spending categories 
  • Valuable spending insights 
  • Instant purchase notifications 
  • Overdraft protection of up to $200
  • Three savings pods that earn up to 4 percent APY 
  • Immediate release of gas station holds

There’s also a fee-free account option for teenagers that features these perks: 

  • White or Black Visa debit card
  • Standard direct deposit 
  • One budget for a single spending category 
  • Instant purchase notifications 
  • One giving pod for charitable contributions 
  • Immediate release of gas station holds 

Below is a more detailed description of the exclusive benefits Current members enjoy. 

Current Visa Debit Card

The Current Visa debit card can be used anywhere VISA is accepted to make online purchases or withdraw funds from ATMs. Basic and Teen account holders get a debit card with a secured chip. If you sign up for a Premium Account, you’ll get a card with tap-to-pay functionality. 

Debit Card Rewards

Each time you swipe and use your Current debit card, you can earn redeemable points for cash or items. There are over 14,000 participating merchants nationwide, including local businesses, your favorite restaurants and gas stations. Even better, you can earn up to 15 points per dollar spent and use the Current app to find locations near you to help you earn even more. 

Mobile Banking Done Better

5ad89d32b9098d0001b0a9daLoading TrustPilot
Learn how the Current mobile banking app makes it easy to manage your money and tap into all the perks the platform has to offer.
5ad89d32b9098d0001b0a9daLoading TrustPilot
Discover Current Spend Account and read about how to open one, what benefits can give and how to manage your bank account online from the app.

Overdraft Protection

Also known as Overdrive™, overdraft protection lets you steer clear of fees when you overdraft up to $200. This feature is only available on Premium Accounts, and you must receive direct deposits of at least $500 per month. 

Cash Deposits

You can make cash deposits to your Current account with ease at a participating retailer found on the mobile app. Simply select the location you’d like to visit in the mobile app to generate a barcode. Then, ask the cashier to scan it and hand over the cash. The deposit will appear in your account right away and be available for immediate use. 

Fee-free ATMs

Current debit cardholders can make fee-free ATM withdrawals at more than 40,000 Allpoint ATMs nationwide. In addition, you can use the mobile app to find a location near you at the tap of a fingertip. 

High Yield Savings

Use a Current savings pod to make your dollar work harder for you. You’ll earn up to 4.00 percent APY if you maintain a balance of $0.01 or more over a 12-month period.

Budgeting Tools

Develop budgets to keep tabs on your spending through the Current app. You can budget one expense category if you open a Basic Account or several with a Premium Account. 

Current Bank FAQs

Below are some frequently asked questions about Current. 

Is Current a good bank app?

Yes, three million people nationwide use the Current mobile app to more effectively manage their money and make it work harder for them. It also boasts exceptional ratings on the App Store and Google Play. 

Is Current legit?

Yes. Current is a legit financial technology company that offers select banking services to over three million consumers. 

Is Current banking safe?

Yes, Current encrypts user data to keep your information safe. 

Is Current worth it?

Yes. You can access many valuable financial tools and resources for free with a Basic account for only $4.99 per month with a Premium account. 

What bank does Current use?

Current uses Choice Financial Group, Member FDIC, to provide banking services to its customers.

Current

You may also like

Opening up several savings accounts has its perks. How many savings accounts should you have? We’ll reveal the answer.
Read more

Advertisement Disclosure

Product name, logo, brands, and other trademarks featured or referred to within Banks.com are the property of their respective trademark holders. This site may be compensated through third party advertisers. The offers that may appear on Banks.com’s website are from companies from which Banks.com may receive compensation. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website. However, this compensation also facilitates the provision by Banks.com of certain services to you at no charge. The website does not include all financial services companies or all of their available product and service offerings.