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Current Account Review
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Founded in 2015, Current is a fintech company that offers banking services to serve the needs of Americans who are working to create a better future for themselves. Current offers products aimed at helping customers improve their financial lives. Features within Current's Build account include: no minimum balance requirements, fee-free ATM services at Allpoint ATMs in the US*, convenient cash deposits, paychecks up to two days faster with direct deposit and no overdraft fees with direct deposit. Current is a financial technology company, not a bank: banking services are provided and debit cards are issued for Current accounts by Choice Financial Group (Member FDIC). Current is headquartered in New York, New York.
How is Current rated?
Breakdown
4.8/5
Account Features
4.8/5
Fees and Restrictions
4.8/5
Support, Reputation, and Financials
Overall Rating: 4.8 / 5 (Excellent)
Current is a financial technology company that offers a wide range of financial products, including savings accounts, checking accounts, and free cryptocurrency investing. The company has been in business since 2015 and has steadily enhanced its product offering. Current makes banking on the go easy through a highly regarded mobile app.
The Current Build account offers many advantages. There are no monthly fees to maintain an account. Nor are there minimum deposit or minimum balance restrictions. The account features a fee-free ATM card. Users' funds are available through 40,000 free ATMs. And you can make cash deposits to your account at over 60,000 retail locations.
Overall, Current is a great alternative if you're seeking an inexpensive secured credit solution with a large number of convenience features.
Current Account Features
Account Features - 4.8 / 5
Current has modernized the traditional banking experience by using technology to streamline processes and help account holders build credit as they spend. For example, there are no minimum balance requirements with a Current account. Customers can withdraw money without ATM fees at over 40,000 in-network Allpoint ATMs* in the US. You can connect external bank accounts to your Current account and transfer money instantly to other members on Current with Current Pay. You can also visit some 60,000 participant stores to make cash deposits.
Current recently added an interesting product to augment its already robust checking account features. Known as Current Build, it's a secured credit card that allows users to build credit as they make purchases and pay their bills on time. A secured credit card is funded by the user. Cash deposited into the account serves as balance that customers can borrow against up to the amount deposited. Because the credit card is secured by user funds, cardholders needn't undergo a credit check to get one. As you make on-time payments, Current reports them to the credit bureaus and you build an on-time payment history. Theoretically, your credit score will increase, but users should understand that it's not an instantaneous process. Building credit takes some time.
The Current Build card comes with many of the features of Current's tradition credit card. There are no minimum deposit or minimum balance restrictions. Users pay no monthly fees. Other features include paychecks up to two days faster with direct deposit, fee-free ATMs, up to 4% APY, cashback rewards and no fee crypto buying and selling.
The Current Build card is ideal for people who are seeking to improve their credit and normally use a debit card for purchases.
| Types of Checking Accounts | Fee-Free Checking Accounts Online Checking Accounts |
| Methods of Deposits | ATM Deposit Mobile Check Deposit Wire Transfer Online Transfer Direct Deposit |
| Integration with Other Online Accounts | External Banks |
| No-Fee ATM | Fee-free in-network ATMs |
| ATM Locations | You can make fee-free ATM withdrawals from your Current account at over 40,000 Allpoint locations in the US. In addition, you can make deposits at over 60,000 participating US retail locations. |
| Branch Offices | Current is strictly a financial technology platform and doesn't operate any physical branches. |
Interest (APY)
4.00% APY on up to $6,000
Overdraft Protection
Current offers overdraft without overdraft fees up to $200 to members who set up direct deposit and activate Overdrive™.
| Integration with Mobile Payment Services | Venmo PayPal Apple Pay Google Pay Cash App |
| Card Blocking | Yes |
| Pay Bills Online | Yes |
| Mobile App | Yes |
Current Fees and Restrictions
Fees and Restrictions - 4.8 / 5
Current account holders are not subject to many of the fees and restrictions other online checking accounts impose. No minimum monthly balance is required to access the company's variety of services.
Compared to many online banks, the company makes depositing money pretty easy. You can deposit cash at 60,000 participating retail locations, using bank or wire transfers, or by making mobile check deposits using your smartphone. Customers also have the opportunity to earn points for purchases at participating stores. Points can be redeemed for cash in-app.
| Maintenance Fee | 0 |
| Minimum Balance | 0 |
| Minimum Monthly Deposit | 0 |
| Minimum Number of Transactions | 0 |
| Other Fees | Incoming Wire Fee Bounced Check Fee |
Current Support, Reputation, and Financials
Support, Reputation, and Financials - 4.8 / 5
Current receives mixed reviews from consumers. Trustpilot gives the company an excellent rating of 4.2 out of 5 stars, but the Better Business Bureau awards it a poor D rating. There have been 6 complaints filed against the company with the Consumer Financial Protection Bureau.
Reviewers who are critical of Current frequently cite an inability to communicate with Current as their chief complaint. Others criticize the company for over-promising when it comes to fast or instant deposits.
The company offers a 24/7 live chat, plus email support feature through its app.
Current earns 4.7 out of 5 stars on the Apple App Store and 4.6 out of 5 stars on Google Play. Positive reviews of the company often cite the app as a reason for high ratings.
| BBB Rating | D |
| BBB Total Complaints | 1,014 |
| Trust Pilot Rating | 4.2 out of 5 |
| Consumer Financial Protection Board (CFPB) Complaints | 6 |
| Date Collected | 2023-08-01 |
| Year Founded | 2015 |
| Live Help 24/7 | Yes |
| Customer Support Hours | 24/7 |
Contact Methods
- Live Chat
- Social Media
Company Profile
| Full Name | Current Account |
| Company Website | |
| Headquarters | 45 w 18th Street, New York, NY, 10011 |
Disclaimers
1) Please refer to Overdrive™ Features Terms and Conditions.
2) 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.
*Out of network cash withdrawal fees apply. Third-party, adding cash and Current membership fees may apply.
2) 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.
*Out of network cash withdrawal fees apply. Third-party, adding cash and Current membership fees may apply.
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Our Partner
Multi-featured payment account and debit card
- Get paid up to two days faster
- 40,000 fee-free ATMs
- $0 minimum balance
- Easy-to-use app
- New Current Build secured credit card
- Banking services provided by Choice Financial Group, Member FDIC.
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