Current Bank Review – Modern FinTech Banking Solution

Current Bank, a digital-only banking app, strives to simplify banking in today’s world. It stands out in the fintech industry by partnering with traditional banks, offering the innovation of fintech with the security of traditional banking. This approach includes FDIC-insured services, ensuring reliability and trust. 

Current also offers a unique teens-only plan, educating young adults in financial management. Just like Quontic Bank, Current Bank helps users improve credit scores, merging the benefits of modern digital banking with educational aspects for a comprehensive banking experience.

Continue reading to determine if Current Bank is your FinTech solution. 

What is Current Bank?

Current Bank, founded in 2015 by Stuart Sopp, is a fintech company revolutionizing the banking experience with digital-first services. It operates entirely online, accessible via Android or iOS devices, and is known for its accelerated direct deposit and efficient money management through its mobile app.

Although not a bank itself, Current is backed by Choice Financial Group and Cross River Bank, offering FDIC-insured services. With over 4 million users, Current, headquartered in New York, has secured about $402 million in funding, demonstrating significant growth and impact in the online banking sector.

Current Bank Features

Current Bank offers a lot of benefits to users, here they are in no particular order:

  • High-Interest Savings: Current Bank’s high-yield accounts offer up to 4.00% annual bonuses, incentivizing users to save more efficiently and reach their financial targets quicker.
  • Credit Building: Facilitates credit score improvement through everyday banking activities, making financial growth more accessible to a broader range of users.
  • Direct Deposit Benefits: This feature allows users to access their paychecks up to two days earlier, providing a crucial advantage for those in need of prompt fund availability.
  • Innovative Savings Tools: Current includes tools like Savings Pods and automatic round-ups, simplifying the process of earmarking funds for specific goals and watching savings accumulate.
  • User-Friendly Mobile Experience: The app offers a streamlined and intuitive interface, making it easy to handle finances, execute transfers, and track both savings and expenditures.
  • Comprehensive Overdraft Protection: Offers fee-free overdraft up to a certain limit, helping users avoid excessive fees due to minor account oversights.
  • No Monthly Account Fees: Users enjoy the convenience of banking without worrying about regular account maintenance fees.
  • No Minimum Balance Requirements: This feature provides greater flexibility and ease in managing account balances.
  • $50 Signup Bonus: An attractive incentive for new members joining the platform.
  • Free Teen Account: Offers an account option for teenagers with comprehensive parental control features.
  • Rewards Program: Allows users to earn rewards from shopping at a wide network of over 14,000 merchants.

Who is Current Bank For?

Current Bank stands out in the online banking world, particularly for those who are comfortable with managing their finances through digital platforms. It’s an excellent option for people who are looking for a bank with minimal fees and a streamlined mobile experience.

Current caters well to tech-savvy individuals, young professionals, and freelancers who value features like early direct deposit and flexible financial tools. It’s also a great choice for anyone aiming to build their credit score in a safe and manageable way through regular banking activities.

Current Bank Alternatives

With the recent explosion of FinTech apps, there are quite a few quality players. Current Bank is the best option for certain types of users, but different platforms cater to different clientele. Here are some other quality companies out there:

  • Novo Business Banking: Novo Business Banking is a digital platform designed for small businesses and freelancers. It stands out for its zero fees, ease of online access, and seamless integration with various business tools. Novo is especially beneficial for those who value simplicity and efficiency in managing their business finances. This platform is ideal for entrepreneurs looking for a flexible and cost-effective banking solution.
  • CIT Bank: CIT Bank is an established online bank known for its low fees and high-yield savings options. It offers various accounts like savings, checking, money market, and CDs with competitive interest rates. It’s best suited for those seeking high returns on savings with minimal fees and comfortable with online banking.
  • MPH Bank: MPH Bank offers a modern digital banking experience focusing on flexibility and personalization. It provides high-yield savings accounts with competitive APY, a variety of account types, early direct deposit, and user-friendly digital tools. Ideal for customers seeking a digital-first banking approach, MPH Bank combines convenience with a range of customizable services.


Current Bank really shines in the digital banking space. It combines the easy accessibility of a fintech with the reliability of traditional banking, all while offering a host of user-friendly features. Whether you’re into saving with high-interest rates, improving your credit score, or managing money on a sleek app, Current has you covered.

It’s particularly great for the tech-savvy, young professionals, and anyone keen on managing their finances digitally without extra fees. If this sounds like what you’re looking for in a bank, why not Click Here and see more about what Current Bank can do for you?