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Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Here’s what you need to do to earn your $50 Current referral bonus.
- Open a Current account using a referral link (here’s my Current referral link).
- Receive a direct deposit of $200 or more within 45 days of opening your account.
- Your $50 bonus will post within 10 business days after completing a qualifying direct deposit.
Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone.
In this post, we’ll look at how Current works and walk you through the steps you need to follow to earn your $50 Current referral bonus.
What Is Current?
Current is a fintech banking app similar to apps like Chime and Varo. It offers two main products – a checking account and a savings account (they call their savings accounts, savings pods).
The Current checking account works like a regular checking account. It comes with no hidden fees and access to a network of free ATMs. The Current debit card also offers cash back at select restaurants and other retailers.
In addition to the checking account, Current also gives users access to a savings account that offers 4% interest on up to $2,000. This makes Current a valuable option for anyone looking to get the most return on their cash or anyone looking for a good place to store their emergency fund. We’ll talk about the savings account in more detail later in this post.
In the past, Current came with two plans. There was a free basic plan that gave you access to one savings account. Meanwhile, the premium plan gave you access to three savings accounts but also came with a $5 per month fee. I used the basic plan because it was free.
However, Current recently made some changes. When you sign up now, you can open the premium plan with no monthly fees. This gives you access to the three savings accounts, so when you sign up, you should open the premium plan (assuming it remains free).
Current Referral Bonus – Step By Step Directions
With that background out of the way, let’s look at the exact steps you can follow to earn your $50 Current referral bonus.
1. Open A Current Account Using A Referral Link. The first thing you’ll need to do is open a Current account using a referral link. Here’s my Current referral link if you are interested in earning your bonus and supporting this blog too. My referral code should automatically be filled in when you open the account, but if not, be sure to use my code: KEVINH891.
When you open your Current account, you’ll get the option of choosing between a basic or premium account. As I mentioned in the previous section, the premium plan is now free, so you should pick the premium plan when you open your account. It’s okay if you pick the basic plan however – you can still upgrade to the premium plan later.
When you sign up, it may say that the premium plan costs $5 per month, but when you actually open the account, it’ll say that it has no annual fees in your app.
2. Complete A Direct Deposit Of $200 Or More Within 45 Days. Once you open your account, you’ll need to complete a direct deposit of $200 or more within 45 days. The terms state the following:
A Payroll Direct Deposit must be made by an employer or payroll provider by ACH deposit. Transfers from Paypal, Zelle, Venmo, Square, GooglePay, Cash App, or similar peer to peer transfer services, one-time direct deposits (such as tax refunds), mobile check deposits, and cash loads do not qualify as a Payroll Direct Deposit.
The plain language of the terms suggests that you would need to complete a real direct deposit to trigger the bonus. If you can do a real direct deposit, that is your best option to earn the bonus.
That being said, many data points show you can meet this bonus by completing an ACH transfer from a regular bank account. Ally Bank does not work to trigger the bonus, but people have reported that Discover Bank or Schwab will trigger the bonus. You may need to complete multiple transfers to see which one works.
3. Your Bonus Will Post Within 10 Business Days. The terms state that your bonus will post within 10 business days, but most people see their bonus post in about a week. This is important because it’ll give you time to see if your direct deposit method worked. If you don’t see your bonus in about a week, try again with another bank. Remember, you only have 45 days to complete a qualifying direct deposit, so don’t waste too much time here.
Current 4% Interest Savings Account Strategy
Beyond the referral bonus, Current is especially useful because it comes with a 4% interest savings account. I’ve written in detail about the savings account in this post: Current Bank App – A 4% Interest Savings Account On Up To $2,000.
Current calls their savings accounts “savings pods.” It pays 4% interest on your first $2,000. Everything above $2,000 does not earn interest. In other words, if you had $2,001 in your savings pod, you’d earn 4% interest on $2,000 and no interest on the remaining $1.
If you open sign up for the premium plan (which is now free for everyone), you’ll be able to open up to 3 different savings pods and put $2,000 in each one. That’ll give you $6,000 earning 4% interest.
The savings pods are kept in an FDIC-insured bank account, so you’re not putting your money at risk by having it in Current. Even if you don’t care about the $50 referral bonus, you should still open a Current account solely for access to the savings accounts.
Refer Your Friends And Family For More Bonuses
Current users get access to a referral link they can use to refer their friends and family. You’ll earn $50 for each person you refer to Current that completes the above steps. You’ll find your referral in the top right corner of the app, where it says “Get $50.”
You’re limited to a maximum of $1,000 worth of referrals per calendar year, which means you should be able to refer 20 people in a year under the current referral terms. I’m not sure if Current counts the $50 signup bonus as part of that limit. If they do, then you’d really be limited to 19 referrals.
Either way, that’s a good deal. My advice is to send your friends and family your referral link. You can refer them to this post if they have questions on how to earn the bonus.
Final Thoughts
Current has been making a name for itself recently and seems to be making a strong push for new users. The referral bonus is good and worth getting if you can meet the terms. Gaining access to several savings accounts that pay 4% interest is even better.
Plus, if you combine Current with my other 5% interest savings accounts options you can put away a large sum of cash in savings accounts earning a good rate of return.
To learn more about bank account bonuses, check out my post, The Ultimate Guide to Bank Account Bonuses. And to get more detail about Current and how its 4% interest savings accounts work, check out my post: Current Bank App – A 4% Interest Savings Account On Up To $2,000.
More Recommended Ebike/Scooters
Check out these other ebikes/scooters I’ve had the chance to do a review for:
- GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
- Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($50) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $50 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
- Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) – Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Chime ($100) – Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- SoFi Money ($25) – SoFi Money is a free checking account from SoFi. They’re currently a $25 referral bonus if you open a SoFi Money account with a referral link. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
- Brex ($250) – Brex is a free business cash management account that is offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements. It’s an easy bonus to earn and well worth doing. Here is my Brex Card Referral Bonus Step By Step Guide.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Spiral ($50) – Spiral is a fintech bank that’s currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it’s a free checking account and doesn’t require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.
- Nearside ($90) – Nearside is a free business checking account that’s currently offering a $40 signup bonus and a $50 referral bonus if you open a Nearside business checking account using a referral link. Filling out the application should only take you a few minutes. And the bonus terms are easy to meet. Check out my Nearside signup and referral bonus guide here.
- OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.
- Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.
- Fifth Third Bank ($350) – Fifth Third Bank is currently offering new customers a $350 signup bonus after opening a new account and meeting certain requirements. This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you live or visit one of these states, make sure to take advantage of this high bonus. Check out my post on Fifth Third Bank to learn more.
- Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
- One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.
- Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin’s favorite fintech apps include:
- Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
- SoFi Money. A really good checking account with absolutely no fees. You’ll get a $25 referral bonus if you open a SoFi Money account with a referral link.
- Brex. Brex is a free business cash management account that is currently offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $50 for opening an account.
- Albert. A great free app I use to track my finances and save more money. You can also earn a $150 signup bonus if you open a free Albert cash account.
Feel free to send Kevin a message here.
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