Get a $50 bonus when open a Current Bank checking account using referral code GLWWNT964 and make a direct deposit of $200. Plus, earn a 4.00% APY on the cash balance in your account.
While it’s not the biggest bank bonus available, you might as well get the $50 welcome bonus if you’re going to be opening an account. The 4.00% APY is also one of the highest savings rates today.
For more current bank offers, see our bank bonuses page. The most popular offers are from Chase Bank, SoFi, and Axos Bank.
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What is Current Bank?
Current is a fintech company that offers a mobile banking app for their customers. It acts like a regular bank, but it’s called a neobank. Neobanks are companies that offer digital banking exclusively without traditional physical bank branches.
Current.com banking offers a checking account with a $50 sign-up bonus for joining and completing one easy direct deposit requirement.
Current.com Promotions
As of today, there are two offers available. The first deal gets you a $50 bonus when you open a Current Checking account and make a direct deposit. The second one shows you how to earn a 4.00% APY on your savings.
Offer #1: Current Checking $50 Sign-Up Bonus
Get a $50 bonus when you open a Current checking account with referral code GLWWNT964 and make a direct deposit of $200 or more.
How To Get $50 Bonus:
- Open a Current.com checking account using this download link and enter referral code GLWWNT964 during the sign-up process (towards the very end of the application).
- Make a Direct Deposit of $200 or more within 45 days of account opening.
- Receive a $50 reward paid to your account within 10 business days after your qualifying deposit.
This offer is available to new users only. Existing Current customers do not qualify.
Offer #2: Current Savings 4.00% APY
Earn a 4.00% APY on your savings by creating Savings Pods.
Savings Pods are sub-accounts under your checking account – think of them as an “account within an account.” You can create three Savings Pods and each pod can hold up to $2,000.
How To Earn 4.00% APY:
- Open a new Current banking account using this link.
- Enter the referral code GLWWNT964 during sign-up for the $50 bonus welcome offer.
- Create a Savings Pod once your account is opened.
- Make a direct deposit of $200 – must be done once every 35 days.
- Earn 4.00% APY on balances up to $2,000 per Savings Pod (you can have up to three Savings Pods for $6,000 total).
There is no minimum balance required in order to earn the 4.00% interest rate. Current Bank states they intend to make this high interest rate permanent and not just a one-time promo.
The Bottom Line
Current.com used to have a basic checking account and a premium checking account, but they have since consolidated the products into one. Now all checking accounts feature:
- No minimum balance fees
- No overdraft fees
- No bank transfer fees
- No in-network ATM withdrawal fees
- No instant transfer fees (with Current ~tags) to other Current members
- Exclusive Premium Card with Tap to Pay
- Early access to direct deposit (up to 2 days earlier)
- Budgets for each category of spending
- 3 Savings Pods (previously only 1 Savings Pod)
- Gas station authorization holds immediately released
- Overdrive overdraft protection
The Savings Pods is arguably the best feature. You earn a high savings interest rate of 4.00% APY on up to $6,000. Although now it requires having a direct deposit of $200 every 35 days. The rate is otherwise 0.25% during each period without a qualified direct deposit.
If you have more than $6,000 to save, then check out my list of the best high-yield savings accounts.
Previously, this was capped at $2,000, so the new maximum is 3x higher. The interest earned over a one-year period is $244.45 on a $6,000 balance compared to $81.48 on a $2,000 balance, for a difference of $162.97.
For more bank account promotions, check out our page on the best bank bonuses and promotions.
As of January 19th 2023 to get the 4% savings rate in the pods you have to have at least a $200 REAL direct deposit every 35 days. But other than that pretty easy $50 bonus. Just be sure to pair it with Swagbucks for an extra $50 from them. Be sure to enter John’s code in the Current Code spot during sign up or click the You link lower left corner of app and enter code there in the Add a Current Code line. If John’s code is full you can use DANIELS819
For the savings pods, is there ANY interest earned after the first $2k per pod? I didn’t see a reference to that anywhere, so I assume there’s not.
You won’t earn interest over $2k per pod or a maximum of $6k if you use all three pods. It’s a nice rate up to that cap. Personally, I leave $6k in Current.com and then use the best high-yield savings accounts for the rest of my money.
It’s a local credit union. They used to work with Plaid but recently stopped. Maybe it has to do with the lawsuit that’s going on right now?
So is there a way to transfer money in and out of Current WITHOUT having to go through Plaid? I refuse to do business with Plaid. I’m finding FinTech companies are being paid big bucks to use Plaid exclusively since Plaid’s lawsuit, as that’s the only way Plaid is getting customers now.
Yes, just log into the other banks you do business with and set up a transfer request there (using your Current bank account # and routing #).
Opened an account and haven’t been able to get any money into my savings pods. My bank doesn’t show up on the list to link through Plaid. There is seemingly no way to issue a transfer from my bank account to my Current account. I have to write checks to myself in increments of 1,000 max. To move funds in and out of Current, I am forced to open another bank account! Perhaps I will stack another bonus and use that account as the go between. This is a big issue that my money is going to be essentially locked in a savings account that is not accessible in an emergency situation.
Which bank do you use that doesn’t show up on Plaid?
Does it have to be specifically a payroll deposit or have you found others that work with Current?
I’ve heard Ally, Charles Schwab, and Discover have worked so far and Chase doesn’t work. Thanks for the reminder on this – I’ll add these data points and others as I get them.
Thanks! Hoping to hear that one of the other online banks will work to push into Current before I start the clock on this offer.
Tdameritrade doesn’t work
Thanks for the data point. I’ll make sure not to include it in the list until it changes.