Get a $50 bonus when open a Current checking account using referral code BRJROH474 and make a direct deposit of $200. Plus, earn up to 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 higher savings rates today.
This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
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.
Offer #1: Current Checking $50 Sign-Up Bonus
Get a $50 bonus when you open a Current checking account with referral code BRJROH474 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 BRJROH474 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.
If you forgot to enter a referral code during registration, you can still add one by opening the Current app. Click on the “Account” icon at the bottom right-corner. Scroll to the bottom and tap “Add a Code“. Enter a Current code here and hit “Confirm“.
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 BRJROH474 (promo code WELCOME50 will also work) 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.
Offer #3: Current Build – Build Credit Safely
Build your credit safely with no minimum or monthly fees with Current Build.
Current just launched Credit Build so now you can do banking and credit building together. You can use your own money to build credit safely without building debt.
There are no credit checks or credit history required. Just use your card, even at the ATM, to build credit with every swipe, earn points, and more.
The Bottom Line
Current.com has made a pivot to become an “all-in-one” platform where you can bank and build credit together. A Current account has many features and benefits, including:
- 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) that earns 4.00% APY
- 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. To receive this rate, you need to make a direct deposit of $200 every 35 days. For each period that you don’t have a qualified direct deposit, the rate drops down to 0.25%.
If you have more than $6,000 to save, then check out my list of the best high-yield savings accounts.
Previously, the maximum amount that can earn 4.00% APY was capped at $2,000, so now the amount earning this rate is 3x higher. This is significant, as the potential 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.