Current: The Future of Banking

Current is a financial technology company that offers a variety of banking services through partnerships with FDIC-insured banks. This means that while Current is not a bank itself, it works with other banks to provide its customers with FDIC insurance coverage up to $250,000. However, certain conditions must be met for this coverage to apply.

With Current, you can easily build credit by using their Build Card, which does not require any credit checks. You can also access cash through a $500 Paycheck Advance, skip fees with fee-free overdraft and cash withdrawals from 40,000 Allpoint ATMs, and get paid up to 2 days faster with direct deposit.

Current also offers the opportunity to save money and earn rewards. Customers can earn up to 4.00% annual bonus on their savings and get up to 7x the points and cash back on swipes at participating merchants. Additionally, Current provides 24/7 support through their app for any assistance needed.

While some fees may apply, such as out of network ATM fees and late payment fees, Current strives to make banking more convenient and affordable for its customers. They also offer Boost Bonuses, which are credited to savings accounts within 48 hours and can earn a variable rate of 0.25% or 4.00% annually on balances up to $2000 per Savings Pod.

It's important to note that FDIC insurance only covers the failure of an FDIC-insured bank, and this coverage is only available through pass-through insurance at Choice Financial Group and Cross River Bank. This means that while Current works with these banks to provide FDIC insurance, it is not responsible for any potential losses. Lastly, Current also offers a secured charge card through Cross River Bank, which can be used anywhere Visa credit cards are accepted.