Current

Current Reviews

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About Current

Current is a financial technology company. It offers cash management services for customers, with banking services provided by Choice Financial Group. Current offers a basic account with no monthly fee and a premium account. Parents can teach money management with a teen account that they can monitor. The Overdrive feature, available with a premium account, offers overdraft protection up to $200. Current also offers features like cash back and early paydays.

Pros & Cons

Pros
  • Teen banking
  • Overdraft up to $200 with no fees
  • Biometric security features
Cons
  • No joint accounts
  • No website banking

What is Current?

Current is a financial technology company that provides digital banking services. The company’s financial offerings are provided by Choice Financial Group. Current's goal is to make banking more accessible and affordable for everyone. It does this by eliminating service fees and offering high annual percentage yield rates and cash-back options.

The main appeal of Current is some of its more unique features. The app has biometric security measures such as fingerprint and face ID lock. It also allows you to instantly block transactions. Parents who want their children to learn money management can open a teen account. This provides a convenient mix of financial freedom and security.

How does Current work?

Current aims to make banking simple. While it’s only available through the mobile app, it is simple to set up. The company offers “Savings Pods,” which are basically savings accounts with particular goals. These pods have APYs of 4% and no restrictions on moving money to and from the account.

Your Current Visa debit card is usable anywhere that accepts Visa. This includes the 40,000 fee-free Allpoint ATMs across the U.S. You can receive your paycheck up to two days early. You can also deposit checks through the mobile app. Current users can instantly transfer money between each other with Current Pay. You just need a Current Tag to share your profile with others.

Current also offers points for your purchases at participating locations. You get one point per dollar, or more if the retailer has a multiplier. These points can be redeemed for cash or even for a premium account. Points are available for both basic and premium members.

Current accounts

Current offers three types of banking accounts: basic, premium and teen. Each account type offers a variety of features that suit different needs.

Basic account
  • No monthly fee
  • Basic White Card with secured chip
  • A budget for one spending category
  • Standard direct deposits
  • Spending insights
  • One Savings Pod
Premium account
  • Exclusive Premium Card with tap-to-pay
  • Early access to direct deposit
  • Budgets for each spending category
  • Spending insights
  • Three Savings Pods
  • Gas station authorization holds immediately released
  • Overdrive overdraft protection
Teen account
  • No monthly or annual fee
  • White or Black Card
  • A budget for one spending category
  • Standard direct deposits
  • One Giving Pod for donations
  • Gas station authorization holds immediately released

Current rates

Current has three account options. The basic account is free for customers to use. The Premium account has a fee of $4.99 a month. There is no fee for adding a teen account.

Current promises no hidden fees. There’s no account minimum and no transfer fees. Premium account holders also get up to $200 of overdraft coverage with no fees.

Current FAQ

Is Current a real bank?

Current is not a bank. It is a financial technology company that offers banking services through Choice Financial Group.

Is Current FDIC-insured?

Current is FDIC-insured through the issuing bank, Choice Financial Group.

Where can I use my Current card?

Your Current debit card can be used anywhere that Visa is accepted in the U.S., including online. You can also withdraw money from Allpoint ATMs with the Visa Interlink or Maestro logos.

Does Current have account minimums?

Current does not have account minimum requirements.

Will Current affect my credit score?

Current won’t affect your credit score. The company doesn’t perform a credit check when you open an account.

Is Current legit?

Current is a legitimate financial technology company. It is FDIC-insured through its partner bank, Choice Financial Group. While it’s not ideal for anyone not wanting to bank through a desktop website or app, Current has a number of unique features that make it stand out among its competitors. Particularly noteworthy is the teen account, which is a great way for parents to handle their children’s money while still offering some freedom. Overall, we recommend exploring Current financial services if you’re looking for an alternative to traditional banking.

Current Reviews

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    How do I know I can trust these reviews about Current?
    • 4,476,910 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Customer ServiceSales & Marketing

    Reviewed April 28, 2024

    It is a lie that they don't affect your credit report. It is on my report as a new account which pulls down my average time of account history. It is listed in the same group as my credit cards but has no information because I am not exactly sure how I have this to begin with. It is basically a placeholder because somehow they think I have an account with them. All you apparently need is a phone number to open this? This is a scam in my books. They are trying to show they have lots of accounts for their investors. They won't close the account either without all of your personally identifiable information.

    Customer ServiceContract & Terms

    Reviewed April 9, 2024

    I have had my account since October 2023, and up until referring my wife to Current in March 2024 so we could receive the (at the time) $80 referral bonus to both her brand new account and my existing one to help with our expenses. I had originally joined Current because of the build card as I had no previous credit history (turned 18 last year) and have disabilities that effect my memory that could mess up my credit if I don't remember to pay on time. I was looking for a Financial Technology company that was able to provide a Credit Building Card, much like Chime, that didn't have the reputation that Chime has. After today's experience I am heavily looking down on their reputation.

    My wife had received her direct deposit from our employer over 10 days ago, that was totaling over $200 as needed for the referral bonus. Our employer uses Stripe as they're payroll provider for direct deposits. We have been on the phone with customer since 11am on April 9th, and as I'm typing this it is 3pm and we are still on the phone with them. When her deposit originally came through, we had been told that the deposit qualified, by multiple representatives, for the bonus and we would receive the bonus in 10 business as agreed to in the referral contract. We waited the full 10 business days for the $80 to hit both of our accounts and when it didn't, we reached out to support. When we contacted support this morning we were informed that it no longer qualified as they don't classify our payroll provider as such, when that it is how it is utilized from our employer. After the contract should have already been paid out and they can no longer change the terms of the contract.

    We have provided all proof that it was a payroll deposit including her paystubs and confirmation from our employer of how their financial department is operated. They continue to deny it as a payroll deposit and are basing it in the fact that we primarily work as independent contractors. If you do anything other than a regular 9-5 style job, I do not recommend this company. I am considering changing financial providers because of all of this, as well as processing a lawsuit over the consumer rights violations that we have experienced while utilizing Current. And I will be retracting all previous statements to any friends and family that I had recommended Current to as I no longer believe that they should be recommended to anyone as a financial institution. They handled this incredibly poorly and I only hope that their legal department is able to handle a possible class action lawsuit because I highly doubt that this is the first time they have violated consumer rights.

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      Reviewed July 19, 2023

      For no reason they freeze my account and has been holding 23k hostage for over a year..with no right and they make no sense in anything they say or do. Stay away from Current. You been warned..this bank is horrible and you get no help. Go to another banking.

      Reviewed Nov. 6, 2022

      Just like all of these debit cards, they all rearrange your transactions to indicate that you have more money in your spending account than you thought. Then when you pay a bill, you end up having a huge negative spending balance. All of these cards are a nightmare!!!! They're just stealing money from you!!!!

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      Current Company Information

      Company Name:
      Current
      Website:
      current.com