Current is a fintech, with banking services provided by Choice Financial Group, member FDIC. After the whole Synapse/Juno/Yotta fiasco, I no longer recommending keeping significant balances in a fintech, even if the interest rate is very competitive. The entire point of cash is to be as close to 100% safe and liquid as possible.
I am updating this review of my Current account opened years ago, as right now they are offering a boosted if you complete an eligible Payroll Deposit of at least $200 within your first 45 days of opening an account. You must either apply directly through the link above or enter promo code JONATHAP228 when signing up. Thanks if you use my link! That’s a pretty big bonus with no minimum deposit requirement for those that have payroll websites/apps where you can split and/or switch your direct deposits easily.
Other features:
- No minimum balance. No minimum opening deposit.
- No credit check. No Chexsystems check.
- No overdraft fees.
- Fee-free ATM withdrawals within the 40,000+ Allpoint ATM network.
- Access to paycheck up to 2 days early.
- Gas station authorization holds immediately released.
- On top of no overdraft fees, also get up to $100 in fee-free overdraft coverage.
Current does offer 4% APY on their “Savings Pods” if you maintain a $200+ direct deposit monthly. But even though the $150 new customer bonus is nice and they have some thoughtful features like the free overdraft coverage, they are still a fintech so I’m not keeping money there long-term.
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