| Account | Yield |
| Basic Account | 4% APY up to $6,000 |
| Teen Account | 4% APY up to $6,000 |
Current Bank Online Banking Review
In 2015, Current launched fee-free accounts for teens as its initial focus. Since then, it has become one of the most competitive online banking options, offering high-interest rates, excellent cash-back rewards, no fees, no balance requirements, and access to cryptocurrencies. In reviewing Current as an online bank, it is important to note that it is not a bank, but a financial services company. Since Choice Financial Group offers its banking services through FDIC-insured deposits, it is eligible for this coverage.
Current Bank Online Banking Highlights
APY SAVINGS
4% - 4%
APY CHECKINGS
4% - 4%
ATM NETWORK
40,000+
MAINTENANCE FEE
-2
OTHER FEES
Yes
Pros & Cons
- No monthly account fees
- No minimum balance requirements
- Free teen account with parental controls
- Allows crypto invest from $1
- No credit building tool
- Cash over $6,000 doesn't earn interest
Account Type
- Checking
- Savings
- Certificates of Deposit (CD)
Current Bank Checking Highlights
DEPOSIT AMOUNT
No minimum
APY
4% to 4%
Pros & Cons
- Cost-effective
- Early access to paycheck
- Payments rewards program
- No way to earn interest
- No overdraft on basic account
Current Bank Savings Highlights
DEPOSIT AMOUNT
No minimum
APY
4% to 4%
Current Bank Checking business Highlights
DEPOSIT AMOUNT
No minimum
APY
4% to 4%
APYs
Features Benefits & Rewards
- 4% APY
- No monthly fees or account minimums
- Earn rewards shopping with over 14,000 merchants
- Invest in cryptocurrencies with as little as $1
Account Types
There are just two different types of Current accounts that you can choose from. One of them is a free option, with the other being a premium option. Here is a look at the different aspects of these offerings:
Current Account
This is the base account from Current that will not carry any sort of monthly charge. You get access to all of the standard types of tools and features you would hope to see with an online-based account. As well as a lack of a monthly fee, you will also not have to meet any sort of minimum balance when you are creating this account.
You will be able to get a debit card with this account option, with over 55,000 fee-free ATMs across the country. There will also be a spending budgeting tool in place, as well as a savings pod for you to get track of your savings and insights into how you are spending your funds.
| Account Type | Key Features |
| Current Account | No Monthly fee
No minimum opening balance 55+ No-fee ATMs |
Current Premium Account
The premium account option has a few more benefits associated with it, but you will need to pay a $4.99 monthly charge in order to get access to this type of account. As well as the features associated with the base account at Current, you will get additional perks. This includes being able to access funds sent from your employer two days early when you set up a direct deposit.
There is also the ability to enact three different savings pods. You can get access to a wide range of spending rewards. There is also the option to set your child up for a Current account for a cost of $36 per year. Current certainly does all of the basics well.
| Account Type | Key Features |
| Current Premium Account | Monthly charge of $4.99
Early paycheck access Spending rewards |
What Is Current Account Best For?
For those people who want access to a very simple to use an online account, then Current could be a good option for you. It allows you to get low-cost access to such an account.
It is also a good fit for parents who want to educate their children a bit more about the ways of personal finance. Finally, it is also an ideal fit for those people who are looking to receive their paycheck funds a couple of days earlier than they normally would.
Opening An Account With Current
Opening a current account takes just a few minutes and requires very little information. All you need is your name, your social security number, a U.S. address, and your mobile phone number to start earning more.
With your mobile phone number, you can get started right away on the Current homepage.
Step 1
Submitting your mobile number.
Despite what you see here, these steps are very simple and take seconds each to complete. The entire process can be completed in under 5 minutes for most people.
State Availability
Available in all states
Privacy & Security
The privacy of your information is important to Current. Its Privacy Policy explains in detail how they manage your information when you use the Services. Please review this policy closely because you must agree to the Privacy Policy before using the Services.
Current and its third-party service providers may use your data, including your financial information, to improve Services. Current and its third-party service providers may use anonymous, aggregate financial information to perform analytical research, engage in performance tracking or benchmarking, or to publish, distribute, or license the aggregated, anonymous research data for any purpose.
Current protects your sensitive data according to an internal information security policy and program and as required by law. Despite its best efforts, you understand that transmissions on the internet cannot always be secure.
You are responsible for safeguarding your Account username, password, and any other information used to access our Services. If you do not safeguard your Account login information, you will be responsible, within limits imposed by law, for any loss associated with the unauthorized use of your Account.
Customer Support
You can reach Current customer support by emailing support@current.com or by using the chat feature within the app. There’s also a contact form on its website that can be used to contact support. Needless to say the chat option is the quickest way to contact support. We tested both chat and email and found both methods to yield helpful, friendly, and professional responses. While the chat session was quickest, we only had to wait a couple hours to receive an email response. If you don’t have something that needs an immediate response then email is an acceptable support method.
Phone Support
+1 888-851-1172
Email Support
support@current.com
Social Media
In Conclusion
Current started with just a teen account in 2015 and has grown significantly since then, although it remains a neobank with no brick and mortar presence, and not even the ability to access your account online via the website. Those who are comfortable using mobile apps to access their finances will appreciate Current and its high APY accounts, lack of fees, and its budgeting features.
FAQ
Current does have FDIC insurance up to $250,000 per depositor for all its accounts through Choice Financial Group.
Current has a network of over 40,000 fee-free ATMs across the U.S. Current charges a fee of $2.50 for out-of-network ATM use. While you can withdraw cash via an ATM, you cannot deposit cash through an ATM.
While Current does not charge any monthly maintenance fees, there are some fees for certain situations, such as foreign transactions and out-of-network ATM transactions.
Current Bank Disclaimer
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer’s finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guarantees or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market. Current is a financial technology company, not a bank. Banking services provided by and Visa® Debit Card issued by Choice Financial Group, Member FDIC, pursuant to a license from Visa U.S.A. Inc and can be used everywhere Visa debit cards are accepted. *Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Steve has been writing in the financial products space for over a decade, with interests ranging from personal loans to investing. He is also deeply into the blockchain space. In his free time, you can find him in the kitchen preparing delicious meals, or outside hiking and biking.
7.0
LS SCORE
8.0
CREDIBILITY
8.0
SUPPORT
6.0
ACCESSIBILITY
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support@current.com
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