Get a $50 bonus when you open a Current Bank checking account 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 available.
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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.
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.
You can also use promo code WELCOME50 instead and earn the same $50 welcome bonus for making a $200 direct deposit. Thanks in advance to readers who choose to use my code that gets me a referral bonus at no cost to you.
How To Get $50 Bonus:
- Open a Current.com checking account using this download link and enter referral code GLWWNT964 or promo code WELCOME50 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 $100 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 your optional $50 bonus welcome offer.
- Create a Savings Pod once your account is opened.
- 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 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.
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.