Affiliate & Editorial Disclosure

Current Bank Review: The Future of Banking?

ByJulija A.
June 28,2022
We form affiliate partnerships with some of the companies mentioned in our reviews, which means we may get a small monetary compensation every time you purchase a product using the links on our website. This does not influence the contents of our reviews. Learn more by reading our Affiliate disclosure.

Although commonly referred to as a bank, Current is a financial technology company offering a range of banking features. In other words, it provides mobile-only servicesaccounts are accessible through its mobile app only – and is a traditional banking alternative. So, when it comes to services provided by Current Bank, reviews and our own experience have enabled us to gather pertinent information to help you figure out whether opening a mobile banking account with Current is the right option for you.


See review for pricing details.

pros thumb up Pros
  • Well-rated mobile apps
  • Outstanding 4% APY for savings
  • Cash back at around 14.000 stores
  • Free cash withdrawal at 40.000 ATMs
  • High security featuring facial recognition and fingertip scanning
  • The teen account allows parents to supervise their children’s finances
cons thumb down Cons
  • Cash deposits are possible only at certain vendors
  • Customer service is available only via the mobile app

Current Bank Account 

Currently, this financial technology company has two plans on offer. They feature various benefits that allow you to manage your finances on the go. However, they also have a few limitations, which we’ll get to shortly.


Overdrive Overdraft Protection

Instant Purchase Notification

Monthly or Annual Fee

Number of Savings Pods

Basic Plan





Teen Plan





Overdrive overdraft protection allows qualifying customers’ overdraft up to $200 without fees when swiping the Current debit card.

Basic Plan

This Current account boasts certain advantages, the most striking ones being:

  • Debit card with Tap to Pay 
  • No monthly or yearly fees
  • Three savings pods, which are savings accounts
  • Overdraft overdrive protection with transparent fees
  • Immediate release of gas station authorization holds
  • Quick access to direct deposits, usually within two days
  • Instant purchase notifications (standard rates from the provider may apply)

Teen Plan

Among Current plans, the Teen account is aimed at the youngest customers. Namely, it allows teenagers partial liberty in financial management. The plan works by having parents set specific rules that guide teenagers through the process of acquiring finance-related skills. And its characteristics are:

  • One savings pod
  • One donations pod
  • Lack of monthly or annual fees
  • No overdraft overdrive protection access
  • Gas station authorization holds are released immediately
  • Instant purchase notifications (provider's standard rates may apply)
  • Parental control that enables supervision of children's finances by denying access to retailers deemed inappropriate, by capping expenditures, and setting payments for certain achievements.

Also worth noting is that the account for teenagers comes with a Visa debit card. Importantly, parents can receive spending notifications when their children swipe the card.  

Current Mobile Banking Details

Current doesn't have a lower limit for their customers to keep their accounts open. However, there's a limit to how much their clients can spend daily. 

When it comes to benefits, card owners can earn and redeem points for items or cash by swiping their debit cards at select vendors. But, note that the daily purchase limit for both accounts is $2,000.

Also worth noting is that the issuing bankChoice Financial Group; Member FDIC – entitles each user to $250,000 of pass-through deposit insurance coverage.  

Are There Withdrawal Fees?

If you need to withdraw cash, you can get your money fee-free at around 40,000 ATMs throughout the US. To benefit from this perk, open your Current banking app, navigate to the Money tab, and find the nearest AllPoint ATM

Still, keep in mind that this mobile-only financial company limits the ATM withdrawals to $500 daily for both accounts.

Are Mobile Check and Cash Deposits Free?

Depositing mobile checks is free, while cash deposits cost $3.50 per transaction

You can deposit up to $2,000 through the app once you get funds from a linked funding source. As for cash deposits, you need to visit an authorized retailer – Walmart or CVS, for instance – and ask the cashier for assistance. 

Do Current Accounts Have Hidden Fees?

According to various Current Bank reviews written by customers, this fintech company doesn’t charge any fees that may catch you by surprise. In that regard, you won't get internal or external money transfer fees, for example. 

However, you'll have to pay for withdrawals at ATMs that are out of the AllPoint network. Such withdrawals cost $2.50 nationwide, while those abroad will set you back $3 each. 

What Are Current Savings Pods Rates?

Current has one of the most competitive rates available - a whopping 4% annual percentage yield. And any amount on your balance is enough for you to earn the interest applied daily. So, if you keep a $1,000 balance on your Current savings account, you'll get $40 in total by the year's end.

It should be mentioned that the maximum amount generating income is $6,000 on all three saving pods ($2,000 per pod or account). Accordingly, the most you can earn this way is $240 per year. 

How Does Customer Service Work?

You can contact Current customer support by going to the Support section and selecting Contact Us. Alternatively, you can email the support team or submit a request through the online form. Current bank has 24/7 customer service, and its reliable agents will assist you immediately, should you encounter an issue with your account.

Current Customer Support

Some reviewers mentioned having received subpar support from Current’s customer service. In line with that, customer service may be this company’s weak point.  

Current Benefits and Downsides

Current has valuable features that can help you plan and manage your savings and expenses. On the other hand, it has a few downsides that may lower its overall value. So, let's take a look. 

Current Mobile-Only Pros

Current accounts provide the following advantages:

  • Cash deposits
  • Referral bonus of $50
  • Automated savings tools
  • Instant purchase notification
  • Mobile apps well rated by users
  • Exceptional 4% APY for savings up to $6,000
  • Direct deposits become available in up to two days
  • Cash back at specified 14,000 merchants
  • Teen account comes with parental supervision
  • Fee-free money withdrawals from around 40,000 ATMs nationwide
  • Premium security involving fingerprint scanning and facial identification

Current Cons

On the other hand, Current also has a few cons:

  • Cash deposits are possible only at certain retailers at $3.50 per transaction.
  • Customer service is accessible only via the mobile app because phone support is limited at the moment.
  • Current online banking isn't available, so you can access your account via app only. 

Current Mobile Banking Parent Reviews

Many positive reviews about this fintech company relate to parents' satisfaction with the products offered to teenagers. According to these parents, Current significantly contributed to their efforts in teaching kids how to manage finances and act responsibly. 

Which Customers Benefit the Most From Current Mobile Banking?

Considering everything the company has to offer, we can observe that the following customers enjoy the most benefits from Current features:

  • People who prefer to manage their finances on the go via the mobile app
  • Individuals wishing to earn through a high savings rate
  • Young people who need to learn how to manage their finances
  • Parents who want to guide their children toward financial stability
  • Clients who keep savings accounts with money for funding a future business or higher education.

Are My Funds Safe With This Neobank?

So, is Current bank safe to deposit your funds, based on everything we’ve said in our review? Due to being a member of the Federal Deposit Insurance Corporation, Current bank’s funds that are insured through partner banks. And if a neobank closes, its funds are usually redirected to those banks.


We can conclude that Current banking is an excellent option for everyone who prefers to manage their finances on the go. Accessing the account is seamless, and cardholders in need of cash have a network of 40,000 ATMs throughout the US to withdraw their money for free. Furthermore, the company's fee policy is transparent, and there are no hidden fees.

For families, Current fintech has a teen plan, allowing young adolescents to form sound financial habits. Also, the company has an attractive ATY for its savings pods up to $2,000 each. Last but not least, the annual interest rate is among the highest in the market.

Is Current a reliable bank?

Current is a member of the FDIC, the Federal Deposit Insurance Corporation, which means your funds are completely safe. And its clients rate the performance highly, with most online reviews describing it as excellent.

What are Current pros and cons?

Current mobile banking offers a range of benefits, some of the most significant ones being:

  • Instant purchase notification
  • High APY rate for savings up to $2,000 per savings account
  • Nationwide network of 40,000 ATMs for free withdrawals
  • Overdrive overdraft protection of up to $200 without incurring fees
  • Teen account that helps teenagers take their first steps toward financial independence under their parents' guidance

A few cons are:

  • Inadequate customer support
  • Cash deposits are possible only at specified retailers
Is Current online banking good?

According to numerous online Current Bank reviews, this mobile banking option is reliable and legit, with many useful features for keeping track of your finances.