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.
For more current bank offers, see our bank bonuses page. The most popular offers are from Chase Bank, SoFi, U.S. Bank, 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
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.
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.
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.