[2023.6 Update] The Swagbucks bonus of 5000SB (worth $50) is back. It can be stacked with a $50 referral bonus. The current requirement is to receive $200 in Direct Deposit within 45 days of opening the account.
Feel free to use the author’s referral code here: BIIPGJ186. If you prefer the easier route, you can also click the referral link below first:
[2022.5 Update] The Swagbucks bonus changed to 5000SB (worth $50), and it can be stacked with a $50 referral bonus. The current requirement is to receive $200 in Direct Deposit within 45 days of opening the account.
Current also offers a savings-like feature called savings pods. Each user can open 3 savings pods, and the first $200 in each savings pod earns 4% APY. In other words, up to $6,000 total can earn 4% APY, which is pretty solid.
[2022.5 Update] The Swagbucks bonus changed to 12000SB (worth $120), and it can be stacked with a $50 referral bonus. The promotion link is below:
Try to use the same email address you used for Swagbucks when signing up for Current. After signup, go to the Rewards submenu in your account management page and enter the referrer’s code BIIPGJ186 under Current code. If you receive $200 in Direct Deposit within 45 days of opening the account, you can get both the Swagbucks payout and the referral bonus.
About Current
Current is a U.S.-based mobile banking app that offers checking account services. It has raised more than $400 million across four funding rounds, with its last Series D round bringing in $220 million in April 2021. It has 15 investors, including Tiger Global Management, Expa, Wellington Management, and Andreessen Horowitz. It has around 2 million customers. Deposits at Current are insured through its partner bank, Choice Financial Group (an FDIC member). If something happens to Current, customer accounts are eligible for up to $250,000 in deposit insurance.
Key Features of Current
- Send and receive money instantly for free
- Up to $200 in overdraft with no overdraft fees
- No minimum balance requirement
- Open a savings account and earn 4% on the first $6,000
- Earn up to 15% points back on select purchases (for example, one current promotion offers 5% back at gas stations), with points settling in 3-5 days
- You can set daily spending limits and ATM withdrawal limits, and it also supports virtual cards (great for trial subscription offers; many free trials do not accept Visa gift cards, and in those cases the Current virtual card can work)
How to Get the Account Opening Bonus
Opening a Current account is very easy and can be done entirely online. You will need a Social Security Number (SSN) and a U.S. residential address. Right now, opening an account through Swagbucks can earn you 5000SB (worth $50). If you are not familiar with Swagbucks, you can read the earlier guide here:
If you do not yet have a Swagbucks account, feel free to sign up through the referral link below:
Search for Current on Swagbucks to find this offer.
Complete your Current account opening through the Swagbucks link and finish identity verification, then link an external account and add funds from that account. If you deposit at least $25 within 30 days of opening the account, you can receive the Swagbucks 5000SB (worth $50) payout. At the moment, this can also be stacked with Current’s referral bonus. The requirement for that is to receive $200 in Direct Deposit within 45 days of opening the account (usually payroll; transfers from many brokerage accounts and other investment/financial accounts may also count). Then go to the Rewards submenu in your account management page and enter the referrer’s code under Current code. Both parties can receive a $50 bonus.
Feel free to use the author’s referral code here: BIIPGJ186， or, if you prefer, click the referral link below first:
Open the referral link above (the Current $50 link) in Chrome, and do not close that page during the entire process, even though you will not use that page again afterward. Then open a new tab in the same browser, log in to your Swagbucks account, find the Current offer, and click through to complete the application. Note that the Swagbucks $50 bonus only requires depositing at least $25 within 30 days of account opening, while the referral $50 bonus requires $200 in Direct Deposit within 45 days of opening the account. Current now has no monthly fee on any account. Previous standard accounts were also automatically upgraded to premium accounts. The premium account used to cost $4.99/month, but that fee has now been removed. Current is not particularly difficult to open, and the feature I personally like most is its virtual card function, which lets you set spending limits and use it for free trial offers. One thing to note is that after opening this bank account, you can only have one unique account and cannot reopen it for another bonus (churn). If you close the account and reopen it, it restores the previously closed account, and opening it directly again does not earn a bonus. Current’s old referral bonus used to be a token $1 per successful referral, which was pretty stingy. Now it appears that after raising more funding, both sides can get $50. As a no-monthly-fee debit card with spending rewards, it is already quite good, so if you do not have this card yet, it may be worth trying.