Current Review (2026)

Facts checked October 19, 2026 against Current's own account agreements, fee pages, FDIC and regulator records (15 sources, listed below). We re-check prices about once a month. We do not earn a commission from Current.

Current at a glance

How Current works

Current is a financial technology company, not a bank. Its spending account is held at Choice Financial Group and/or Cross River Bank under two separate account agreements, and Current says FDIC pass-through insurance is available "only if certain conditions have been met." The section below on who holds your money names both banks with their FDIC certificates. The spending account pays no interest; you pay nothing a month unless you add the optional Current Max subscription, whose price Current shows only in the app.

Savings Pods are buckets inside the account, and they are not interest-bearing. What Current offers instead is a Boost Bonus, which it pays itself. Current says Boost "is not an annual percentage yield product" or a savings account, and the bonus is reported on Form 1099-MISC. With one eligible payroll deposit of $200 or more in the past 35 days the bonus rate is 4.00%; without one it is 0.25%. Person-to-person transfers, mobile check deposits, cash and other ACH transfers do not count. Only the first $2,000 in each Pod earns, across up to 3 Pods, and money above $6,000 earns nothing. If you close the account within six months of enrolling, Current takes the bonus back. Current Max adds an extra 2% to the Boost rate, on up to $6,000. Teen accounts do not get Boost.

A hypothetical member keeps $8,000 in Savings Pods for a year and gets paid through Current every month, with rates unchanged. The first $6,000 earns about $6,000 x 4.00% = $240, and the other $2,000 earns $0, so about $240 in total, 3.00% of the $8,000. Without the payroll deposit the same $6,000 earns about $6,000 x 0.25% = $15. Close within six months and the bonus is taken back, plus a $10 account closure fee. A bank savings account paying an APY on every dollar is easier to compare; see our high-yield savings comparison.

For short-term cash Current has two products. Fee-Free Overdraft lets you go negative on the account with no fee, starting at $20, once you have a $200+ payroll deposit in the past 35 days; you must bring the balance back within 60 days. Paycheck Advance is earned wage access from Finco Advance LLC, not a loan and with no credit check: $25 to $1,000 if eligible, free if you wait up to 3 days, or with an Instant Access Fee that varies with the amount for delivery in up to an hour. It is not offered in Connecticut, Maryland, Nevada, Wisconsin or DC. Compare with other apps in our banking app comparison.

Who Current fits, and who should skip it

Limitations to know

• Boost needs one eligible payroll deposit of $200 or more in the preceding 35 days; P2P, mobile check, cash and non-payroll ACH deposits do not count. [2]
• The Instant Access Fee for Paycheck Advance varies with the advance and is shown only in the app, so we cannot list it. [8]
• Current Max is a paid monthly subscription whose price is not published outside the app. [11]
• Fee-Free Overdraft is for individual accounts only; teen accounts get neither overdraft nor Boost. [13]
• Cash deposits are limited to $500 per deposit, $1,000 a day and $10,000 a month, at $3.50 each. [9]

Current compared with alternatives

• Pick Chime if you want an APY on savings and no-fee SpotMe overdraft coverage.
• Pick Varo if you want a chartered bank and free cash deposits at stand-alone CVS stores.
• Pick Dave if you want a small overdraft of $25 to $500 and accept a fee of at least $5.
• Pick SoFi if you want 3.30% APY with direct deposit from a chartered bank.

Security and privacy

• Current says: "FDIC insurance up to $250,000 is available on customer funds through pass-through insurance at Choice Financial Group, Member FDIC, and/or Cross River Bank," but only if certain conditions have been met, and there may be a risk that it is not available. The FDIC's own warning about non-bank apps is in the section on who holds your money. [1]
• You can pause your card and block merchants in the app, and Current offers Face ID, fingerprint lock and passkeys. [14]
• Current's site offers a "Do Not Sell or Share My Personal Information" opt-out and says website tracking data may be shared with third parties to market its services. [1]
• On March 8, 2023 the FDIC issued a consent order against Cross River Bank, one of Current's partner banks, over fair lending compliance; it carried no penalty and was made public on April 28, 2023. We did not confirm whether it has ended. The action was against the bank, not against Current. [15]
• We found no CFPB action against Current, but the CFPB's site could not be searched from here. Crypto trading in the app runs through Zero Hash LLC and is not FDIC insured. [1]

Recent changes

Current FAQ

Is Current a bank?

No. Finco Services, Inc. dba Current is a financial technology company. Its accounts are held at Choice Financial Group and/or Cross River Bank, both FDIC members.

Is Current safe and FDIC insured?

Current itself is not FDIC-insured. It says pass-through insurance up to $250,000 is available at Choice Financial Group and/or Cross River Bank only if certain conditions are met, and that there may be a risk it is not available. The FDIC says insurance does not protect you if a non-bank company fails.

What does Current pay on savings?

No APY. Savings Pods earn a Boost Bonus that Current pays: 4.00% with a $200+ eligible payroll deposit in the past 35 days, 0.25% without, on up to $2,000 per Pod across 3 Pods. The bonus is reported on Form 1099-MISC and is taken back if you close within six months. Compare real APYs in our <a href="/high-yield-savings/">high-yield savings comparison</a>.

Does Current charge fees?

There is no required monthly fee. Current charges $3.50 per cash deposit, $3.50 per out-of-network ATM withdrawal, 3% on foreign transactions, $10 to close the account and $5 a month after 12 months of inactivity. Current Max is optional and paid; Paycheck Advance has an optional Instant Access Fee.

Current vs Chime?

Both hold money at partner banks. <a href="/neobanks/chime/">Chime</a> pays an APY on savings (up to 4.00% with $3,000+ in direct deposits in 34 days); Current pays a 4.00% bonus on up to $6,000 with a $200+ payroll deposit. Current has Paycheck Advance up to $1,000; Chime has MyPay up to $500.

How does Current Paycheck Advance work?

It is earned wage access from Finco Advance LLC, not a loan, with no credit check. If eligible you can get $25 to $1,000, free if you wait up to 3 days or with an Instant Access Fee for faster delivery. Current does not accept tips. You need a $200+ eligible payroll deposit, and it is not offered in Connecticut, Maryland, Nevada, Wisconsin or DC.

How we researched this review

We did not get paid or receive a free account for this page. We read Current's own pricing page, help center, security and privacy pages and app-store listing on October 19, 2026, quoted each fact from those pages, and link every one below. We did not run a long-term hands-on test, so we do not score the app; where a point rests on what the company says rather than something we can check, we attribute it to Current. Cost figures are our own arithmetic. We re-check prices and plans about once a month and log changes in the table above.

Sources

1. Current, Home page and disclosures, checked October 19, 2026.
2. Current, Boost terms of service (updated July 23, 2025), checked October 19, 2026.
3. Current, Spend, checked October 19, 2026.
4. Current, Choice Deposit Account Agreement (June 22, 2026, PDF), checked October 19, 2026.
5. Current, Cross River Deposit Account Agreement (July 29, 2026, PDF), checked October 19, 2026.
6. Current, Help center: What's Fee-Free Overdraft, checked October 19, 2026.
7. Current, Paycheck Advance terms (October 8, 2026, PDF), checked October 19, 2026.
8. Current, Help center: Paycheck Advance, checked October 19, 2026.
9. Current, Help center: How do I add cash to my Current Account, checked October 19, 2026.
10. Current, Help center: Can I use my Current card at ATMs, checked October 19, 2026.
11. Current, Help center: What is Current Max, checked October 19, 2026.
12. Current, Build Card rates and fees (PDF), checked October 19, 2026.
13. Current, Help center: What types of accounts does Current offer, checked October 19, 2026.
14. Current, Help center: How do I pause my Current card, checked October 19, 2026.
15. FDIC, Press release on enforcement orders (April 2023), checked October 19, 2026.

This review is general information, not financial advice. APYs are variable and can change at any time. FDIC insurance protects deposits if an insured bank fails; it does not protect against the failure of a non-bank app company, which is why we name the bank that holds your money.