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We know what it’s like to live paycheck to paycheck. Been there, done that.
And if you’re in that situation, like so many of us are, there are two things you know for sure: It sure would be nice to get paid a couple days early. And overdraft fees are the absolute worst.
Luckily, we’ve found a mobile banking account that can handle both of those things for you. It’s called Current, and it could make your financial life so much less stressful.
Current also gets you cash back on purchases; removes those annoying holds that gas stations put on your debit card; and makes it easy to deposit checks or even cash.
It’s a state-of-the-art account, designed for the times we live in — and perfect for people who could use a little less stress in their financial life.
Get Paid up to Two Days Faster
If you’re living paycheck to paycheck, you’re far from alone. Studies have found that roughly three-quarters of all full-time workers are in the same boat. And if you’re in that boat, you’re probably paddling as fast as you can.
One of Current’s most appealing features is its ability to get you paid up to two days faster when you sign up for direct deposits. When you have looming bills or mouths to feed, this can be a lifesaver.
Faster direct deposits are the key. Unlike the big brick-and-mortar banking chains that dominate this country, Current simply credits your account immediately when it gets notified of your incoming direct deposit. That can get the money to you up to two days faster.
No Evil Overdraft Fees
We hate overdraft fees, and we know you do, too. An overdraft fee to cover insufficient funds is typically about $35, and that’s always painful — especially if you get hit multiple times at once.
The big banks rake in billions of dollars in overdraft fees every year. It fattens their profit margin and, in fact, it’s a crucial part of their whole business plan.
But Current won’t do that to you. It’ll allow you to overdraft your account by up to $100* without hitting you with any nasty fees, as long as you’re getting at least $500 in direct deposits each month and you’re a Premium Member
If you’re living paycheck to paycheck, this is a huge relief. It can help you avoid that never-ending cycle.
Make Deposits and Withdrawals Easily
Current is a mobile-only account, so you’ll do all your banking through its mobile app, which is available for iOS or Android. If you’re used to banking in person, this is easier than you might think.
Making deposits and withdrawals is simple.
ATMs: Need to use one? With Current’s debit card you can withdraw money without any fees at more than 40,000 ATMs across the country.
Adding Cash: You can add cash to your account at more than 60,000 stores. There’s a map of locations in the Current app.
Deposit checks: Just sign the check, snap a photo of the front and back, then enter the amount into the app. Done.
Cash Back and No Gas Station Holds
Unlike a lot of other debit cards, Current also gets you cash back on some purchases. You usually only get that with high-end credit cards, and you need a really good credit score to qualify for one of those.
When you use your debit card at more than 20,000 participating retailers, you can earn up to 15 points for every dollar you spend. You can redeem those points for cash at 100 points per dollar, or to pay for your Current Premium subscription.
Current also removes those annoying holds that gas stations put on your debit card. Man, we hate those. They’re almost as bad as overdraft fees.
Some gas stations put a hold of up to $100 on your card when you buy gas there. That hold locks the amount being held, making it unavailable for you to spend. Current immediately removes those holds, so you’ll never have to worry about it.
A Highly Rated App
Current has two membership plans: a basic plan and a premium plan. The basic plan, which is free, gets you a basic account with a debit card.
The premium plan costs $4.99 a month, but you can quickly make up for that by avoiding just one overdraft fee. Also, it’s the premium plan that allows you to get paid faster. And the points you earn from participating retailers can help cover your monthly fee — you can just have your points automatically applied to your fee.
Current’s app is highly rated by those who use it. As of mid-2021, the app was rated a nice 4.7 out of 5 with nearly 75,000 reviews in Apple’s App Store, and was rated a 4.6 out of 5 with 70,000 reviews on Google Play.
So, if you’re living paycheck to paycheck, you know how rough it can be. If you’d like to get paid early and avoid those nasty overdraft fees, it only takes a few minutes to sign up for Current.
Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He really hates overdraft fees, and he knows you do, too.
*Please refer to Overdrive Features Terms and Conditions
**Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.