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Who Owns Current Money Management App?

Written by Allison Martin

Allison Martin is a personal finance enthusiast and a passionate entrepreneur. With over a decade of experience, Allison has made a name for herself as a syndicated financial writer. Her articles are published in leading publications, like, Bankrate, The Wall Street Journal, MSN Money, and Investopedia. When she’s not busy creating content, Allison travels nationwide, sharing her knowledge and expertise in financial literacy and entrepreneurship through interactive workshops and programs. She also works as a Certified Financial Education Instructor (CFEI) dedicated to helping people from all walks of life achieve financial freedom and success.

Updated February 14, 2024​

3 min. read​

Dubbed as the future of money management, Current is an innovative financial technology company that offers consumers an upgraded money management experience. This online financial platform is available to customers in all 50 states and was founded by CEO Stuart Sopp to make financial management more accessible and affordable for all.

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What Is Current Money Management App?

Offered by fintech firm Current, the Current app helps you manage your money more effectively while on the go. It’s available free of charge through AppStore and Google Play. Opening an account lets you access valuable tools and incentives like savings pods, cashback rewards, built-in budgeting and fee-free overdraft protection.

Is Current A Bank?

No, Current is not a bank.

Who Owns Current Money Management App?

Current is funded by investments from Andreessen Horowitz, EXPA, Avenir, Foundation Capital, QED Investors, Tiger Global Management, Sapphire Ventures, TQ Adventures, and Wellington Management.

What Bank Does Current Money Management App Use?

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

What Does Current App Offer?

It offers an assortment of features, including:

  • Early direct deposit: If you earn $500 or more per month, you could get paid up to two days sooner when you open a Current Premium account and opt for direct deposit.
  • Fee-free ATMs: Current account holders can make fee-free withdrawals at over 40,000 Allpoint ATMs nationwide. Even better, a search tool inside the mobile app makes it easy to find locations near you.
  • Fee-free mobile finance services: Current doesn’t charge hidden fees to its members, and there are no minimum balance requirements.
  • Generous cash back rewards: You can earn up to 15 points for every dollar spent using a Current debit card at one of more than 14,000 participating merchants nationwide. Points can be redeemed for cash or other items.
  • Instant gas-hold removals: Current Premium account holders get gas holds removed immediately when paying at the pump.
  • Overdrive overdraft protection: Get fee-free overdraft protection of up to $200 with qualifying direct deposits.
  • Sizable interest earnings: Earn up to a 4.00 percent bonus when you put your money into a Savings Pod and let it sit for at least 12 months. However, you’re free to move money in and out as needed without incurring penalties or fees.
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Is the Current App Worth It?

Given the number of features it offers, the Current app is well worth a shot. Plus, deposits into Current accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.

How To Get Started With Current

If you’re ready to revolutionize your money management experience, visit Current’s website to get started with the mobile app. You’ll be prompted to offer one of the following accounts listed below and its features.

Current Account (Monthly fee: Free)

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

Current Teen Account (Monthly fee: Free)

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

Compare your options to select the best, and follow these step-by-step instructions when you’re ready to move forward:

  • Step 1: Download the Current mobile app on Google Play or the AppStore. You can also visit their website to learn more.
  • Step 2: Tap the “Get Started” button and enter your phone number. Current will text you a verification code that you’ll need to enter to confirm that it’s you.
  • Step 3: Input your first and last name, Social Security number, date of birth, physical address and email address.
  • Step 4: Select the type of account you’d like to open – Basic, Premium or Teen.
  • Step 5: Ensure your mailing address is entered correctly and confirm it.
  • Step 6: You’ll get the option to activate your virtual card if you want to start using your Current account right away. (Otherwise, you can skip this step).
  • Step 7: Enter your routing and account number to set up direct deposit if you plan to use this feature and take advantage of early deposit. (Otherwise, you can skip this step).
  • Step 8: Schedule a transfer from an external bank account to fund your Current account. (There’s no minimum balance requirement, so you can also skip this step if needed).
  • Step 9: Manage your account by accessing the user-friendly dashboard.

Simple as that! Best of all, it’s fast, easy and won’t take up much of your time.

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