Current Bank Account Review: Is it Really Worth it?

Last Updated on April 29, 2021

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An account in Current Bank has a lot to offer, such as faster paychecks, instant credits for gas holds, saving pods, and financial means for teenagers.

Current is a banking software or application that offers such unique features that others do not. It is a completely online bank with no physical locations that you can visit, but this is not anything new as there are tons of online banks out there.

It is a great attempt to modernize banking and address some annoying issues. However, it also has some limitations.

Within a Current account, there are three major tiers of accounts that you can own.

  • A free account
  • A premium account that costs 4.95 dollars a year
  • A teen account costs 39 dollars for an entire year.

Basic Account

This account requires no monthly fees. Moreover, you can have access to only one saving pod.

Premium Account

  • Costs $4.99 per month
  • Gas holds instantly credited
  • Direct deposits up to 2 days faster

Teen Account

  • Parent supervised checking account
  • Can block certain merchants
  • Insights into how a child’s money is spent

It is an account that parents can have insights into to see how much money is going in and going out and see what merchants the debit card and checking account is being used at. They also have access to blacklisting certain merchants to make sure that they are not purchasing anything illegal or anything potentially dangerous.

However, this is not anything new. Many checking accounts offer the same type of parental control, so this is not really a defining factor.

Features that Current Advertises

1. Savings Pod

  • Separate pod of money to save money
  • Not a saving account
  • Free accounts: 1 savings pod
  • Premium accounts: 3 savings pods

The saving pod is a bucket of money that you can allocate to your checking account. The free account comes with only one saving pod, while the premium account, which is $4.95, comes with three saving pods.

2. Spending Insights

This feature explains how you spend your money. While that’s cool and useful, this is also not new. Almost every major bank has this feature.

3. Mobile Check Deposits

Some online banks offer this service but not all. Current provides its users this convenience and allows them to deposit their check by taking a picture of the front and backside of it by using the phone camera. You just have to submit a deposit request using the mobile app.

4.  Access To Paycheck Two Days Earlier

The groundbreaking thing that Current Bank is doing is providing direct access to your direct deposit paychecks two days earlier than normal. So the way that Current does this is that typically through direct deposits. It will show a date as to when to release the money into the checking account, and Current just ignores that date and just releases it the minute they get the notice.

So, this is the feature that we think is pretty unique.


There is no doubt that Current Bank has added some fresh features to mobile banking, which other such institutes fail to offer. Before going for it, keep in mind the monthly maintenance fee. Moreover, if you have a huge amount of money in your account and your preference is the cost, Current Bank is not for you.

But, it is perfect for you if you just want quick access to your paycheck and wants multiple options for transferring money.