How Current Just Became One of My Favorite Neobank Accounts

With these weekly Quick Tips, it feels like I’m either sharing small deals and upgrades or complaining about the latest disappointing change to a FinTech platform I like. Well, for a change of pace today, I’m excited to highlight a positive update to a neobank account! And that comes courtesy of Current — an app I originally reviewed several months ago.

Although I liked the overall look and feel of Current and thought it had some cool features, there were two pretty sizable downsides I found: 1) it didn’t pay any interest and 2) a lot of those features were limited to the Premium account, which came at a cost of $4.95. Well, Current took care of that first point in a big way a few months ago and, now, seems to be resolving the latter as the company is now making its Premium account the standard by making it free.

This week, I received an email from Current alerting me to the news. The email read, “We’ve decided to remove the Current Premium subscription fee. Keep enjoying Premium features, now without the monthly fee!” Incidentally, I hadn’t actually had to pay for Premium previously as I was one of the lucky people who scored free Premium for life thanks to signing up with a Mr. Beast promo code (although not everyone who used the code earned this perk). Still, this is great news for those who may have been paying the monthly fee up until now.

As I mentioned earlier, this is the second big upgrade to come to Current recently, leading them to move up my list of preferred accounts. Personally, I started diverting more of my spare cash to Current thanks to their Savings Pod feature that arrived earlier this year. That feature allows users to earn 4% APY on up to $2,000 in funds per Pod. While regular users were limited to just one Pod, Premium customers could open three (for a total of 4% APY on up to $6,000 in funds). Now, it seems like everyone will be able to take advantage of this higher limit without having to worry about the $4.95 fee. Even better, Current pays out interest daily on your Savings Pods, which is a pretty cool feature.

Obviously, while it’s awesome to see Current dropping this fee now, there’s always a chance that negative changes will follow later on. But, for the time being, I think this might be one of my favorite neobank accounts and one that I’d recommend people check out — if for no other reason than the Savings Pods. As a personal side note, it also makes me retroactively happier to have worked with them on my first sponsored video (yeah, that’s who I was talking about). Anyway, here’s hoping that this string of good news continues and I have more happy Quick Tips to share going forward.

Author

Kyle Burbank

Kyle is a freelance writer and author whose first book, "The E-Ticket Life" is now available on Amazon. In addition to his weekly "Money at 30" column on Dyer News, he is also the editorial director and a writer for the Disney fan site LaughingPlace.com and the founder of Money@30.com.

Other Articles by Kyle Burbank

YouTube Has Unveiled a New Monetization Plan for Shorts

In a move seen as an attempt to take on TikTok's dominance in the short-form video content space, YouTube has just unveiled a new plan to monetize its growing Shorts platform. Replacing the current Shorts Fund, YouTube has announced that it will soon deliver 45% of ad revenue generated from...

Scrubba Review: Gimmick or Travel Essential?

For as much as I love traveling, there are a few amenities of home that I miss while away. Among them is the ability to do laundry — something that's especially relevant in today's climate. It seems that my wife feels the same way considering that, a few years ago,...

Travel Tuesday: Tru by Hilton Hotel Review (Wichita, Kansas)

Over the past several months now, I've reviewed a number of hotel properties for my Travel Tuesday series. And while these locations have technically spanned the country, they've definitely over-indexed for Las Vegas, Nevada. Well, today, I'm changing things up a bit by looking at a hotel located in middle...