Current Visa Debit Card Review
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Editorial Review
Checking Account
Get paid faster: With direct deposit, you can receive your paycheck up to two days faster. This requires the Premium Checking Account ($4.99/mo).
Free overdraft: With the Premium Checking Account and qualifying direct deposit, you can overdraft your account by up to $100 for free. Current calls this feature Overdrive.
Savings goals: The Current app includes money management tools to enable you to budget and set savings goals, which Current calls Savings Pods. You can set savings goals and have money automatically set aside to reach those goals. Current also has a round-up feature that enables you to save every time you use the card.
Deposit cash: You can add cash to the Current account at over 60,000 locations.
Mobile check deposit: Deposit checks by tacking a picture of the check with the Current mobile app.
Free ATMs: 55,000 locations
Cash back: Earn up to 15x points at participating merchants, which can be redeemed for cash back.
No gas holds: Current instantly refunds the holds gas stations place on an account.
Instant transfers: Transfer money instantly and for free with other Current account holders.
Teen Account
Parents
- Transfer funds to your teen's account instantly
- Get notifications on all purchases
- Set spending limits
- Block specific merchants
- Create chores to complete
- Automate weekly allowance
Teens
- Teens get their own Visa debit card
- Visa card can be used online or at stores
- Learn to manage money and create budgets
- Saving money with round-ups and savings goals
- Ability to donate money to charities
Fees
There is no monthly fee for the parent's basic checking account. The basic account includes the following features:
- Free White Card
- Standard direct deposits
- 1 Savings Pod
- A budget for a single category of spending
- Spending Insights
- Instant notifications for purchases
- No overdrafts or hidden fees
The Premium account costs $4.99 a month and includes the following:
- Exclusive Premium Card
- Early access to direct deposit (up to 2 days, depending on your employer)
- 3 Savings Pods
- Budgets for each category of spending
- Spending Insights
- Gas station authorizations immediately credited
- No overdrafts or hidden fees
- Instant notifications for purchases
For the teen account, the costs per teen are as follows:
| Fee | Current Debit Card |
|---|---|
| Monthly Fee | $3 |
| PIN Transactions | $0 |
| Signature Transactions | $0 |
| ATM Withdrawal Fee | $0 |
| ATM Balance Inquiry Fee | $0 |
| Cash Reload Fee | $0 |
| Direct Deposit Fee | $0 |
Card Limits
| Card Limit | $10000 |
| Transaction Limit | $2000 |
| Daily ATM Limit | $500 |
| Daily Cash Load Limit | $500 |
Who is Current best for
Current is one of several teen banking products available today. It competes well in this space, due to its relatively low cost, budgeting and savings tools, and parental controls. As such, it is a good choice for parents with teenagers (13 or above) who want to give their teens some control over spending while still maintaining visibility into how their children are spending their money.
Current Alternatives
There are several alternatives to Current that are worth considering. Chime* is arguably the industry leader among financial tech companies, and OnJuno is another alternative. For those wanting accounts for teenagers, the two main competitors are Greenlight and FamZoo. Each of these products made our list of the best debit cards for teens.
From a cost perspective, we like Current for families with one teen. The cost of just $3 a month is excellent. For families with two or more teens, it's worth considering the alternatives. That's particularly true for families with 3 or more teens, as Current charges per teen account.
Check out Current for more details.
*Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank.