United States
activeFeaturedNeobank
- HQ
- San Francisco
- Fee
- Free
Current
US consumer neobank with a debit card, pockets, and teen accounts.
Legal entity: Finco Advance LLC is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC (Current legal disclaimers).
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7.0Solid
AlternativesFive questions
At a glance
Is it a bank?
No. Current is not a bank. Your money sits with Choice Financial Group (confirm live).
If it fails?
Pass-through FDIC up to $250,000 at Choice Financial Group and/or Cross River Bank, Members FDIC, where Current has a direct relationship and conditions are met (Current FDIC disclaimer). Cryptocurrency is not FDIC-insured.
Salary?
US direct deposit into the partner-bank account. Current is not the FDIC member.
Open from abroad?
US consumer fintech. Not a non-resident IBAN.
Monthly fee
Free · paid Current Premium
Account number
No IBAN-class local rail on this file.
NeoBankDB Verdict
Licence first · score second
7.0
/10 · Solid
Put Current next to Chime and Varo. Varo is the actual bank. Current is the app.
What it is
Current is a New York fintech. Deposits sit at partner banks. The teen account is a real SKU, not a brochure.
Best for: US consumers who want Chime-class UX with pockets and a teen SKU.
Last checked 2026-08-01. Not advice.
What it does well
- +App quality
- +Teen product
- +Pockets
- +Early direct deposit
What to watch
- −Not a bank
- −Overdraft/credit extras need a separate read
- −US only
Legal entity, not the app icon
Who is behind it
- Legal name
- Finco Advance LLC is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC (Current legal disclaimers).
Who holds the money
The account
- Platforms
- iOS · Android
- Account types
- Personal spending · savings · teens
- Partner bank
- Choice Financial Group
- Minimum balance
- $0
- Lowest monthly fee
- $0
- Who can open
- US consumers
- Availability
- United States
- Remote open
- US consumer fintech. Not a non-resident IBAN.
- Onboarding
- US KYC. The deposit account sits at Choice Financial Group and/or Cross River Bank.
- KYC documents
- US identity as the partner banks require.
- Minimum age
- 18 for the individual account; teen SKUs are separate and parent-gated — read Current’s live teen terms.
- Salary / payroll
- US direct deposit into the partner-bank account. Current is not the FDIC member.
- Local rails
- US ACH / debit. Debit card issued by Choice Financial Group; secured charge card issued by Cross River Bank (Current disclaimers).
How money actually moves
- Who holds the cash
- Current account at a partner bank
- How money moves
- ACH / USD
- Built for
- Personal · Kids / teens
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Fintech reviews can pause inbound while they check a transfer
- Card
- Current lists a physical card and a virtual card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
Pass-through FDIC up to $250,000 at Choice Financial Group and/or Cross River Bank, Members FDIC, where Current has a direct relationship and conditions are met (Current FDIC disclaimer). Cryptocurrency is not FDIC-insured.
Who holds the money: Choice Financial Group (confirm live)
- FDIC (partners)Fintech with partner banks · United States
Fees
- Monthly
- Free · paid Current Premium
- FX markup
- US domestic
- ATM
- Fee-free ATM network on plan
Features
- –IBAN
- ✓Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- ✓Kids
- –Halal
- Pockets
- Early pay
- Teen accounts
- Debit
- Credit builder
Before you tap Sign up
How to open
Step 1
Current is not a bank
Finco Advance LLC / Current is a fintech. Choice Financial Group and Cross River Bank are the FDIC members.
Step 2
US KYC
Individual or teen SKU — read which one you are opening. Teen is not the same file.
Step 3
Keep crypto off the FDIC sentence
Only the partner-bank deposit can be pass-through FDIC, and only if Current’s stated conditions are met.
Official help: current.com/fdic-insurance-disclaimer/
Operator documents
Their own papers
These are the operator’s documents. They outrank this review if they disagree.
Score
- Safety25%
- 7.2
- Fees20%
- 8.0
- Features15%
- 8.0
- App15%
- 8.6
- Global15%
- 2.8
- Support10%
- 6.4
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
Available in
Straight answers
FAQ
01Is Current a bank?
No. Current is filed as Fintech with partner banks. The money sits with Choice Financial Group (confirm live).
02What happens to money in Current if it fails?
FDIC via Choice Financial Group / program banks
03What does Current charge each month?
The monthly fee on this file is Free · paid Current Premium. Fees change — open the operator's pricing page if it is linked.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
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