Chase Total Checking® Bank Promotions: $50 Bonus + 4.00% APY

Current Bank will give you $50 when you open a Premium Checking account and make a direct deposit of $200. Saving money? You can also earn 4.00% APY on your cash.

While it’s not the biggest bank bonus available, you might as well get the $50 bonus if you’re going to be opening an account anyway. Plus, earning a 4.00% interest rate on your money is one of the highest savings rates available.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, and Fifth Third Bank.

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?

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 only digital banking without traditional physical bank branches.

They have two different checking products, a Basic Checking and Premium Checking account. The Premium Checking account is offering a $50 sign-up bonus for joining and completing one easy direct deposit requirement.

Ninja Update: Premium is now free! You now get 3 Savings Pod earning 4.0% APY – see the bottom of our post. Promotions

As of today, there are two offers available. The first one gives a $50 bonus when you open a Current Checking account and make a direct deposit of $200 or more. The second deal lets you earn a 4.00% APY on your savings.

Offer #1: Current Checking $50 Sign-Up Bonus

Get $50 when you open a Current Checking account as a new Premium member with promo code WELCOME50.

Once you complete registration, simply make a direct deposit of $200 or more and Current will send you a $50 bonus into your new checking account.

How To Get $50 Bonus:

  1. Open a new Premium Checking account using this download link and enter promo code WELCOME50 during sign-up.
  2. Make a Direct Deposit of $200 or more within 45 days of account opening.
  3. Receive a $100 reward paid to your account within 10 business days after your qualifying deposit.

This is available to new users only. Existing Current customers do not qualify.

Current Bank Promotions: $50 Checking Bonus
(Image from Current)

Offer #2: Current Savings 4.00% APY

Earn a 4.00% APY on your savings with a Current Savings account.

This promo was just announced and is available to all Current users, including those on the free Basic plan as well as the now also free Premium plan (though Premium members get to earn 4.00% on a higher balance limit).

How To Earn 4.00% APY:

  1. Open a new Savings account using this link.
  2. Earn 4.00% APY on balances up to $2,000 per Savings Pod (Premium members can have up to three Savings Pods for $6,000 total).

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.

Current Bank Promotions: 4.00% APY Savings
(Image from Current)

The Bottom Line

Both Basic and Premium accounts come with no hidden fees, 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

Premium membership costs $4.99 per month is now free. The premium account, which allows 3 savings pods, is in the process of becoming free. See this chat screenshot with a Current rep:

Premium comes with the following perks:

  • 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
  • Gas station authorization holds immediately released
  • Overdrive overdraft protection

The increased number of Savings Pods (one vs three) is the best feature of being a Premium subscriber. You’d earn a high savings interest rate (currently 4.00% APY) on up to $6,000 instead of $2,000.

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.

8 thoughts on “ Bank Promotions: $50 Bonus + 4.00% APY”

  1. 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?

  2. 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.


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