Current Debit Card Review: Pros, Cons, & What We Love

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The Current Visa Debit Card is the perfect option for parents looking to have more control over their children's accounts.
  • Annual Fee:
    $36
  • Card Limit:
    $10,000
  • Best For:
    Families, Teens

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There are many kinds of debit cards in circulation, but that number gets drastically smaller when you want to add a child account, so you can teach them spending responsibility, insert Current Debit Card!

Current allows you to earn up to 15x points when using your debit card, all while allowing parents to add child accounts to the parent card.

When doing this, you can monitor spending, restrict spending, set up alerts, utilize Current’s “chore” feature where the parent can pay the child an allowance after chores are done, and much more. This article will discuss the pros and cons of the card as well as its features.

Current Visa Debit Card Pros and Cons

Pros:

  • Access to over 55,000 in-network ATMs.
  • Access to over 60,000 stores for cash deposits.
  • 24/7 support from within the Current app.
  • If a gas station puts a hold on your card, Current instantly refunds that amount.
  • Parental controls allow real-time alerts when the card is used, set spending limits, block merchants, and monitor spending habits.
  • Transfer funds instantly when using your Current ~ tag
  • Chore feature allows parents to pay allowance to the child’s card when chores are finished.
  • Set up a Savings Pod where you can add savings manually or automatically via a “round-up” of purchases. The way the round-up works is if you buy something that costs $1.65, the charge will round up to $2 with $0.35 credited to the Savings Pod.
  • A robust app where you can monitor all banking and card activities.
  • No overdraft fees as long as you also have at least $500 per month in direct deposits.
  • Get paid 2 days faster with direct deposit

Cons:

  • The cost is $36 per year
  • ATM usage has a $500 maximum daily limit.
  • Your account can only have up to $10,000 in it.

What Is the Current Visa Debit Card?

Current has introduced their Visa debit card as a way parents can work with their children on financial responsibility.

The Current Visa Debit card has features such as usage alerts, merchant restrictions, chore/allowance function, and tools to monitor spending habits.

How Does the Current Visa Debit Card Work?

To get your Current Visa Debit Card, you can either download their app directly, which is available on iOS and Android, or go to their website, click on the “sign up” button, and fill in the necessary information.

During this process, you will be asked if you would like the account to be a Personal account or a Teen account. You then will select your role, add a child if you would like, and confirm you agree with the pricing.

You then can add money to your account via another debit card or by connecting a bank account. After that, you will upload a photo that is needed to send money instantly when using your Current ~ tag. You are now ready to start using the Current Visa debit card!

>> More: Current Bank Review

Current Visa Debit Card Features and Benefits

  • Cash Back Rewards: You earn up to 15x points whenever you swipe your Visa debit card. Current has a built-in map that will show you merchants in your vicinity and how many points they offer you.
  • Real-Time Alerts & Notifications: You can set up alerts for card usage on both the parent and the child’s account. The notification will tell you the transaction as well as how much balance the card has left.
  • Set Savings Goals: Current has a feature called Savings Pod. This is a way to set up another account within your regular account so you can either manually or automatically store money in it. The automatic feature uses a “round-up” method in which a transaction will be rounding up to the nearest dollar, and the difference will automatically be deposited into your Savings Pod.
  • Strong Security: You can lock and unlock your card whenever needed (e.g., if you lost your card or do not want your child to use theirs). Furthermore, each account/card has its own login information, and the child’s account never has access to any of the parent account information. You also are protected by Visa’s fraud liability, where you are not responsible for fraudulent charges.
  • No Hidden Fees: There are no hidden fees with your Current Visa Debit card.
  • Gas Hold Refunds: Many gas stations will put a hold on your card when you get gas. Current will refund the hold, so you always have access to your full balance.
  • Mobile Check Deposit: You can deposit a check right inside the Current app.
  • Get Paid Early: Having a Premium account allows you to get your direct deposits 2 days earlier than traditional banks.
  • Free ATMs: You will have access to more than 50,000 in-network ATMs where you do not pay any fees. The Current App shows all these ATMs within your vicinity.
  • Overdraft Protection: Having a Premium account also gives you overdraft protection when using your Current Visa debit card, up to $100.

Current Visa Debit Card Plans

Here are the three different types of plans Current offers.

  • Teen Banking: Teen Banking is $36 a month and allows child accounts to be tied to the Parent account. The Parent account can set alerts, spending limitations, chore/allowance set up, and more.
  • Personal Checking: There is no fee for Personal Checking with Current. However, you earn fewer reward points and do not have access to features such as getting paid early from direct deposits, overdraft protection, refunds on gas holds, and more that you get with Premium Checking.
  • Premium Checking: Premium Checking is an upgraded account that Current offers for $4.99 per month. Premium checking allows overdraft up to $100, access to direct deposits faster, refunds on gas holds, and 3 Savings Pods (compared to only 1 with Personal Checking).

How Does the Current Debit Card Compare?

Here are some alternatives to the Current Debit Card.

#1. Chime Debit Card vs. Current Visa Debit Card

Chime is a neobank that offers free overdraft up to $200 for eligible members while also allowing for early payment with direct deposits.

Chime is backed by The Bancorp Bank, which is a member of the FDIC. Chime Visa Debit card can be used anywhere Visa is accepted.

>> More: Chime Bank Review

#2. Greenlight Debit Card for Kids vs. Current Debit Card

Greenlight Debit card is a Mastercard debit card that helps teach kids spending responsibility. Parents can set up a chores list within the app and make sure the chores are finished prior to paying an allowance which can be set up automatically.

Parents can also set up alerts for card usages as well as instant transfers. Greenlight starts at $4.99 a month and goes up to $9.98 a month for added features.

>> More: Greenlight Debit Card Review

#3. Serve® American Express® Prepaid Debit Accounts vs. Current Debit Card

Serve is a prepaid debit card that is accepted anywhere American Express is accepted. There is a $6.95 monthly fee that can be waived with a $500 direct deposit.

You can earn 1% on all purchases while also getting special offers on dining, shopping, and sporting events, and entertainment.

Frequently Asked Questions

Here are some frequently asked questions about the Current Visa Debit Card.

Is Current a Good Debit Card?

If you do not mind paying $3 per month to get all the added features while not planning on ever having more than $10,000 in your account, then Current’s Visa Debit card has some attractive features.

How Much Does Current Debit Card Cost?

The Current Debit Card costs $36 a year, billed monthly.

Is Current a Visa Card?

Current is a Visa debit card.

Bottom Line: Current Visa Debit Card

The Current Visa Debit Card offers some nice features that have become standard with most cards.

Unfortunately, to get all the features, you will need to upgrade your membership which is offered at no additional cost on most other cards.

Current also has a maximum balance allowed of $10,000, which is low compared to other competitors.

While the Current Visa Debit Card has some perks when linking child accounts to the parent accounts, you will find these are standard with many cards today.

Other Debit Cards:

Brian Latchford
Brian Latchford
Brian is a serial entrepreneur that loves technology and coffee. From working with start-ups to creating his own recruiting company, Brian is eager to share his experiences with other founders and business executives. Throughout his career, Brian has enjoyed writing on many topics in the Business, Technology, Finance, and Gaming industry and helps other business leaders as a freelancer.