NEW YORK--(BUSINESS WIRE)--Current, the bank for modern life, today revealed the success of its latest offering, personal checking accounts for adults. The company has grown rapidly to over 400,000 active accounts after the introduction of its personal checking accounts quietly released earlier this year. By aligning themselves with everyday Americans, Current offers access to wages two days early, which is critical to the majority of Americans who live paycheck-to-paycheck.
Current is fulfilling its mission to offer a complete financial platform that gives everyone access to first-rate banking services, regardless of their income or age. Unlike traditional banks, Current is building financial products and tools for modern life, reflecting the changing nature of family and work.
“Building on the success of our teen banking product, we’ve seen tremendous growth with these new personal checking accounts, allowing us to grow with our users,” says Stuart Sopp, Founder and CEO of Current. “Traditional banks have high fixed costs and overhead and unless you have a lot on deposit you aren’t a valuable customer to them, so they pass on their costs to you. At Current we built a new bank from the ground up and the cost savings are passed onto our customers.”
The checking account also features Savings Pods, a quick and easy way to save toward specific goals, such as a vacation or just a rainy day fund. Users can set aside money to Savings Pods with scheduled transfers, and round-up their purchases to save even faster.
With Current's Insights feature, account holders gain better control and transparency into how they spend their money. As with the teen banking product, account holders can request and send money to anyone on Current instantly.
“Current helped me a lot. Since I got Current, I don’t have a problem banking my money,” said Alberto T., Current customer from Jacksonville, FL. “I used to have Wells Fargo, and they charged me extra all the time, so it made it easier for me. And getting paid two days early is way better for me and my family. I have 3 kids, so I have people to take care of. I appreciate Current.”
Support for the New York-based fintech includes funding from high-growth investors including QED Investors, Expa, and Human Ventures. For more information please visit www.current.com, and follow on Twitter @current, Facebook @CurrentDebitCard and Instagram @current_card