Current App Review (2026): Fees, FDIC & Complaints

3.5

Current earns 3.5/5: a polished $0 app whose parent-funding workflow — instant transfers, merchant blocking — is genuinely the smoothest we track for younger teens. It is docked for what the record shows: 2,059 CFPB complaints against its operator at our latest pull, pass-through custody, and no credit building where Step offers it for the same $0.

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Current app review: what the record shows

Pros

  • $0 base plan, per the official site snapshot on file
  • The smoothest parent-funding workflow we track: instant transfers, merchant blocking, spending insights
  • Partner banks verified: Choice Financial Group, FDIC cert. 9423, active per BankFind
  • Carries teen accounts into adulthood without a forced migration

Cons

  • 2,059 complaints under FinCo Services (Current) in our latest CFPB pull — mid-pack for its size but a wide gap against Step's zero
  • No credit building for teens
  • Its early prepaid product's CFPB agreement is Withdrawn — pricing evidence now rests on dated snapshots

Verdict

A good app wrapped around an average record — 3.5/5: pick it for the parent-funding ergonomics with younger teens, but read the complaint file first, and prefer Step when the teen is old enough to bank mostly alone. Ratings weigh fees, deposit structure, controls and the official record.

Current is the best-designed app in our teen index and the clearest case for why design isn’t the whole review: the public record adds context the screenshots don’t show. This review reads both — the product and its file — with the running evidence on our Current fiche.

What Current actually is

Current is a mobile banking app operated by FinCo Services, Inc., serving adults and parent-managed teen accounts. It is not a bank: deposits run through partner banks including Choice Financial Group (FDIC certificate 9423, active per BankFind). The teen product’s strength is the parent side — instant transfers into the teen’s balance, merchant blocking, spending insights — a workflow smoother than anything else in our teen ranking for families managing a younger teenager’s weekly money.

The fee line and the evidence behind it

The base plan is $0, with optional paid tiers layering extra features. One transparency note our records surface: Current’s early prepaid card had a CFPB agreement that is now marked Withdrawn — the current deposit-account product files no prepaid schedule, so pricing evidence rests on dated snapshots of the official site, refreshed by the same nightly pipeline as every fiche. The claim stands; the paper trail is just thinner than the filed-agreement programs.

The complaint file, read fairly

Our latest CFPB pull counts 2,059 complaints against FinCo Services Inc DBA Current. Fair reading cuts both ways: Current’s large adult base inflates raw counts compared to teen-only startups, and 2,059 is mid-pack for its size — but against Step’s zero on an otherwise similar $0 teen product, the gap is the story (the full head-to-head). We surface the number not as a verdict but as the context marketing pages omit.

Who should pick Current — and who shouldn’t

Families running a younger teen’s money week to week get real value from the parent-funding ergonomics — that use case is Current’s home turf. An older teen building toward independence gets more from Step’s credit history at the same price, and custody purists should look at the bank-held options like Capital One MONEY. Whatever you choose, the fiche keeps the snapshots, certificate and complaint count current for the yearly re-check.

FAQ

Is Current a real bank?
No — Current is a fintech operated by FinCo Services, Inc. Banking services run through partner banks including Choice Financial Group (FDIC certificate 9423, active per BankFind); coverage is pass-through, not direct.
Is Current free for teens?
The base plan has no monthly fee, per the official site snapshot in our records; optional paid tiers add features. Teen accounts are opened and funded by a parent or guardian.
Why does Current have so many CFPB complaints?
Our latest pull shows 2,059 complaints against FinCo Services Inc DBA Current. Current has a large adult user base, which inflates raw counts — but the gap against otherwise comparable teen products (Step: zero filed) is wide enough to weigh before choosing.