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You are here: Home / Prepaid Debit Cards / Current Visa Debit Card Review

Current Visa Debit Card Review

May 8, 2021 by Abby Hayes

Current is a mobile banking app and Visa debit card designed as an alternative to a traditional bank. It offers low fees, an excellent mobile app, and tools to help individuals, couples and even families with teenagers manager their money.

Current
Apply Now
Our Rating
4.5/5.0
Monthly Fee
$3*
Card Limit
$10,000

Snapshot

  • Get paid faster with direct deposit
  • Free personal checking account
  • Free overdraft protection up to $100
  • Teens debit Visa card available
  • Get notified when a card is used
  • Helps teach financial responsibility for teens
  • Parents set spending limits
  • Parents can block specific merchants
  • Free direct deposit

Pros & Cons

What we like

  • Free checking account
  • Free direct deposit & get paid up to 2 days early
  • 55,000 Fee-free ATMs
  • Debit card available for teens
    • Parental controls to monitor spending
    • Parents can set spending limits
    • Automate allowance
    • Teens can learn budgeting and money management
  • Encourages savings with round-ups and savings goals
  • Earn up to 15x points

What could be better

  • $3 monthly fee per teen cannot be waived

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:

FeeCurrent 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$10,000
Transaction Limit$2,000
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.

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