Imagine a stress-free banking experience where you could grow your money, earn cash back rewards and get paid faster with direct deposit. Perhaps it sounds like wishful thinking, but you can enjoy all these perks and so much more when you open a Spend Account with Current.
What Is Current?
Founded by Stuart Sopp, Current is a financial technology company headquartered in the United States that caters to Americans looking to improve their financial future. It’s not a bank but offers unique banking services through Choice Financial Group, Member FDIC.
Nearly 4 million Americans use Current, and for a good reason. You can earn up to 4.00% Annual Percentage Yield (APY) (5) on your money daily (which is more than what most savings accounts offer), get direct deposits up to two days earlier, rack up generous cash back rewards, make ATM withdrawals without ATM fees (1) , and so much more! Plus, you can manage your account on an ongoing basis from the comfort of your home.
How Does Current Work?
Current’s customers get a Visa debit card and access to an innovative mobile app that’s full of resources to help you level up your finances. The mobile app is available on Google Pay and the App Store. You can visit their website and enter your phone number to get a link to the app.
It takes less than two minutes to get started, and you can easily sync your debit card with your existing bank account.
Types Of Accounts Current Offers
Here’s a detailed breakdown of what each Current account offers.
Basic Account
The Basic Account is available free of charge. Here’s what you’ll get when you sign up.
- A Basic White Visa debit card with a secured chip
- Budgeting capabilities for one category
- Valuable spending insights
- Purchase alerts in real-time
- Standard direct deposit
- A single Savings Pod that earns 4.00% APY (5) and pays daily on up to $2,000 in savings pods with Current Interest
- ATM withdrawals without ATM fees at Allpoint ATMs in the U.S. (1)
- Instant money transfers
- Mobile check deposit
- Points for cash back from purchases with over 14,000 participating merchants
Premium Account
It’s only $4.99 per month to open a Premium Account, and you’ll get exclusive access to all the perks of a Basic Account along with the following:
- A Premium Visa debit card that lets you tap to pay
- Early direct deposit up to two days faster (3)
- Three Savings Pods that earn 4.00% APY (5) and pays daily on up to $6,000 in savings pods with Current Interest
- Overdrive, which allows for overdraft protection up to $200 (4)
- Automatic release of gas station authorization holds
Teen Account
The Teen Account has no subscription and features these perks:
- A Black or White Visa debit card
- Budgeting and spending insights for one spending category
- Standard direct deposit
- Purchase alerts in real-time
- A single Giving Pod
Benefits Of A Current Spending Account
Here is an overview of some features of Current accounts:
Faster Direct Deposit
Get access to your earnings up to two days early (3) when you open a Current Premium Account and enroll in direct deposit. You can unlock this feature directly in the mobile app in minutes.
Points for Cash Back
Use your Current Visa debit card at any of the 14,000 participating merchants throughout the U.S. to earn rewards points. You can get up to 15 points per dollar spent and redeem them for cash or items from the Current Shop (2) .
Overdraft
Overdrive from Current is a form of overdraft protection that helps you avoid overdraft fees. It’s available with a Premium Account, and you can draw up to $200 (4) before you’re assessed any overdraft charges.
ATMs
Current account holders can make withdrawals at over 40,000 in-network Allpoint ATMs nationwide with no ATM fees (1) . You can use the Current mobile app to find ATM locations near you. So, you won’t have to visit a local bank branch to access your money.
Cryptocurrency Investing
Invest in over 30 cryptocurrencies from your checking account with no trading fees with the Current mobile app crypto feature.
No Hidden Fees
You’ll enjoy banking without all the fees. There are no processing fees, minimum balance fees, bank transfer fees or in-network ATM withdrawal fees (1) .
Teen Banking
Teen banking comes with instant money transfers, real-time notifications, spending limits, merchant blocking, and so much more so your teen can learn to manage money the right way. But, you’ll maintain parental control while having the ability to transfer funds to your teen’s account with ease through mobile banking.
Ultimately, there’s a lot to love about Current. You can manage your money with confidence while on the go, make your money work harder for you, get paid earlier, make fee-free withdrawals and the list goes on.
When you’re ready to revolutionize your banking experience, download the Current mobile app to get started. You can open a Spend Account and start taking advantage of all the perks Current has to offer. You can also access the online dashboard 24/7 to view your Current account balance and transactions, including purchases and payment activity. Best of all, it only takes less than two minutes to get started, and you’ll get a 30-day free trial if you sign up for a Premium account.
