Online banks like Chime and Current have changed the way people manage money. Instead of waiting in line at a branch or paying extra fees, you can open an account on your phone in minutes and get features that make everyday banking simpler.
But if you’re comparing Chime vs. Current, you probably want to know which one fits your needs better. Maybe you care most about getting paid early, avoiding overdraft fees, or earning rewards. Others might be looking for a way to build credit or set up accounts for teens.
This guide breaks down Chime and Current side by side so you can see where each shines. From fees to savings to special perks, we’ll cover the key details that help you decide which online bank is the better match for your money.
Chime vs. Current Overview
Both Chime and Current are popular digital banks that focus on low fees, early paycheck access, and mobile-first banking. While they share many similarities, their account features and perks differ in important ways.
Chime
- Sign-up bonus: Up to $100–$350 with referral or promotional offers when you meet qualifying direct deposit requirements
- Overdraft protection: SpotMe® covers overdrafts up to $200 with at least $200 in monthly direct deposits
- Monthly fees: None
- ATM access: 47,000+ fee-free ATMs (Allpoint, MoneyPass, Visa Plus Alliance)
- Debit card replacement: Free
- Savings account: 1.25% APY, or up to 3.75% APY with qualifying direct deposits
- Credit building: The Chime Card reports to all three credit bureaus
- Early direct deposit: Up to two days early for all users
- Peer-to-peer transfers: Instant to anyone, even non-members
Read our full Chime Review.
Current
- Sign-up bonus: $50–$100 with referral link and qualifying direct deposit (varies by promotion)
- Overdraft protection: Overdrive covers overdrafts up to $200 with at least $200 in direct deposits over 35 days
- Monthly fees: Free Basic Account, or $4.99 Premium Account with added features
- ATM access: 40,000+ fee-free ATMs (Allpoint network)
- Debit card replacement: $5 fee
- Savings tools: Savings Pods with up to 4.00% APY on balances (up to $2,000 per pod, $6,000 total) for eligible users with direct deposit
- Credit building: Current Build Card helps users establish credit and reports to credit bureaus
- Early direct deposit: Up to two days early with qualifying direct deposits (no Premium required)
- Peer-to-peer transfers: Instant between Current members
- Unique perks: Teen accounts, cashback rewards, temporary virtual debit cards, gas hold refunds, and Paycheck Advance up to $750
Read our in-depth Current Review.
Key Features Compared
Chime and Current offer similar banking features, but the details can make one a better fit depending on your needs. Here’s how they stack up across the categories people care about most.
Chime vs. Current: Early Direct Deposit
Getting paid early is one of the top reasons people move to an online bank. Both Chime and Current let you access your paycheck ahead of payday once you set up direct deposit.
- Chime: All account holders qualify. Funds are released as soon as your employer or benefits provider sends them, which can be up to two days before payday.
- Current: Early direct deposit is also available. Once you receive qualifying direct deposits, your paycheck can arrive up to two days early.
Both make payday faster, but Chime offers it automatically for every member.
Chime vs. Current: Overdraft Protection
Traditional overdraft fees can be expensive, but both banks offer fee-free protection.
- Chime: SpotMe® covers overdrafts up to $200 on debit card purchases and ATM withdrawals. To qualify, you need at least $200 in monthly direct deposits.
- Current: Overdrive offers up to $200 in overdraft protection when you receive at least $200 in direct deposits over a 35-day period.
Both programs help you avoid surprise fees, though Chime’s enrollment process is a bit more straightforward.
Chime vs. Current: Savings Account and APY
Interest rates are a major factor for anyone looking to grow their money.
- Chime: The Chime High-Yield Savings Account earns 1.25% APY for all users. If you qualify for Chime+, the rate increases to 3.75% APY. Features like automatic round-ups and paycheck transfers make saving easy.
- Current: Savings Pods let you separate money for different goals. With qualifying direct deposits, you can earn up to 4.00% APY on balances of up to $2,000 per pod, with a $6,000 total cap. Without direct deposit, the rate drops to 0.25%.
Chime works better if you plan to keep higher balances, while Current rewards short-term goal savings with boosted rates.
ChexSystems and Account Approval
If you’ve had trouble opening a bank account because of ChexSystems, both Chime and Current are strong options.
- Chime: Does not use ChexSystems when reviewing applications. There is no credit check required, making approval easier for people with past banking issues.
- Current: Also does not use ChexSystems, and it does not run a credit check to open an account.
This makes both banks attractive for anyone who needs a second chance at banking.
Monthly Fees and Other Costs
Both banks keep costs low, but there are some small differences to be aware of.
- Chime: No monthly fees, no minimum balance requirements, and free debit card replacement. Out-of-network ATM withdrawals cost $2.50 plus operator fees.
- Current: Free Basic Account or $4.99 per month for Premium. Premium unlocks more Savings Pods and extra perks. Debit card replacement costs $5. Out-of-network ATM withdrawals also cost $2.50 plus operator fees.
Chime generally has fewer fees, though Current’s Premium plan may be worth it if you want access to the higher savings rate.
ATM Access and Spending Limits
Both offer large fee-free ATM networks but have different limits on spending.
- Chime: Over 47,000 fee-free ATMs in the Allpoint, MoneyPass, and Visa Plus Alliance networks. Daily ATM withdrawal limit is $500, and the daily spending cap is $2,500.
- Current: Over 40,000 fee-free ATMs in the Allpoint network. Daily ATM withdrawal limit is $500, with a $2,000 daily spending cap.
Chime offers more ATMs and higher spending limits.
Credit Building Options
Building credit is often a key reason people choose a digital bank, and both now offer secured credit cards.
- Chime: The Chime Card is a secured credit card with no interest, no annual fees, and no credit check. It reports to all three credit bureaus and offers 1.5% cash back in rotating categories when you meet direct deposit requirements. Your spending limit is based on what you transfer into your secured deposit account.
- Current: The Build Card is a secured card that reports to the credit bureaus. It also requires a Current account and qualifying deposits but does not currently offer cashback rewards.
Both options can help improve your credit score, but Chime has the advantage with its cashback feature.
Peer-to-Peer Transfers
Sending money to friends and family is quick with both banks, but flexibility differs.
- Chime: Send money instantly to anyone, even if they don’t have a Chime account.
- Current: Transfers are instant, but only between Current members.
Chime is more convenient if you send money outside the platform.
Rewards and Cashback
Rewards can help stretch your spending further, and this is an area where Current has stood out.
- Chime: Rewards are only available through the Chime Card, which provides 1.5% cash back in rotating categories when you qualify.
- Current: Offers cashback rewards at participating merchants, with points that can be redeemed for cash.
Current provides more ongoing opportunities, though Chime’s card brings rewards to the table for the first time.
Teen and Family Accounts
For parents looking to give their teens financial independence with oversight, the two banks differ.
- Chime: No teen or family account options.
- Current: Offers bank accounts for teens for $36 per year. Parents can set spending limits, block certain merchants, and monitor activity.
Current is the clear choice for families.
App Experience and Ease of Use
Since both banks are mobile-first, app experience is critical.
- Chime: Highly rated in both app stores. The app offers transaction alerts, budgeting tools, and easy transfers.
- Current: Also highly rated, with a sleek design and extra features like managing teen accounts and Savings Pods.
Both deliver polished apps, so the difference comes down to which features you find more useful.
Security and Account Protection
Both banks take digital security seriously and insure accounts through their banking partners.
- Chime: FDIC insured up to $250,000, with EMV chip cards, instant transaction alerts, and the ability to freeze your card instantly.
- Current: FDIC insured up to $250,000, with features like instant alerts, virtual debit cards for safer online shopping, and encryption to protect your data.
Security is strong across the board, so you can feel confident with either option.
Chime vs. Current: Which Is Right for You?
Both Chime and Current are solid choices, but the best option depends on your priorities.
- Chime is best if: You want early direct deposit without restrictions, stronger overdraft protection, a wide ATM network, and a secured credit card that helps build credit while offering cashback rewards.
- Current is best if: You want to take advantage of up to 4.00% APY on smaller savings balances, earn cashback at participating merchants, or need a teen account with parental controls.
- Either option works if: You want a no-fee checking account, FDIC insurance, and protection from overdraft fees without relying on ChexSystems or a credit check.
Alternatives to Chime and Current
If neither Chime nor Current feels like the right fit, other online banks may be worth considering. Here are a few popular options.
SoFi
SoFi Checking and Savings has no monthly or overdraft fees and offers up to 3.80% APY on savings and 0.50% APY on checking with qualifying deposits. Members also get access to more than 55,000 fee-free ATMs, early direct deposit, and built-in savings tools.
Beyond banking, SoFi provides lending, investing, and financial coaching, making it a strong choice for anyone wanting a full financial package.
See also: SoFi vs. Chime
Ally Bank
Ally’s online banking is solid if you want simplicity plus feature depth. Its checking (Spending Account) has no maintenance fee and reimburses up to $10 per month for out-of-network ATM fees.
Their CoverDraft feature offers overdraft protection without extra charges (up to $100 or $250 with qualifying direct deposits). You also earn interest on balances, and their app includes savings tools like buckets and automated transfers.
See also: Chime vs. Ally
Varo Bank
Varo’s checking and savings combo has no monthly fees, no minimum balance, and offers a high-yield savings rate—up to 5.00% APY on the first $5,000 if you qualify with $1,000 in monthly direct deposits.
It also gives you free access to in-network ATMs and lets you deposit cash for free at many CVS locations. Varo supports instant transfers via “Varo to Anyone” and even includes free tax filing in the app.
See also: Varo vs. Chime
Wise
Wise is built for global users. You can hold and manage money in dozens of currencies, send international transfers at low, transparent fees, and get local account numbers in multiple countries.
Wise also issues a debit card you can use overseas with real-exchange rates and minimal conversion fees. It doesn’t replace a full checking account, but it shines if you deal with cross-border money.
See also: 11 Best Online Banks Like Chime
Final Thoughts
Chime and Current both deliver on the promise of easy, low-fee banking, but they shine in different ways. Chime is stronger for people who want automatic early direct deposit, wider ATM access, and a credit card that builds credit while offering cashback rewards. Current stands out with its teen accounts, boosted savings rate on smaller balances, and cashback at participating merchants.
If you value rewards and family banking, Current may be the better fit. If your focus is credit building, overdraft protection, and keeping fees to a minimum, Chime comes out ahead. Either way, both options provide a safe, mobile-first alternative to traditional banks that can help you take more control over your money.
Frequently Asked Questions
Can I open both a Chime and Current account at the same time?
Yes, you can open accounts with both Chime and Current. Since neither runs a credit check or uses ChexSystems, there are usually no conflicts. Some people use both to take advantage of features like Chime’s credit building and Current’s cashback rewards.
Do Chime or Current offer joint accounts?
Neither Chime nor Current currently offers traditional joint accounts. Each account is set up for an individual. If you want to share access, Current’s teen account can give parents oversight, but for joint banking you may need a different provider.
How quickly can I get a debit card from Chime or Current?
Chime typically delivers debit cards within 7–10 business days after opening your account. Current usually delivers cards within 5–7 business days. Both let you access card details in the app to make online purchases before the physical card arrives.
Do Chime or Current have physical branches?
No, both Chime and Current are fully digital banks without branch locations. All banking is managed through their apps or websites. Cash deposits are handled through partner retailers instead of branches.
What happens if I close my Chime or Current account?
Closing either account is simple. You need to withdraw or transfer your remaining balance, then request closure through the app or customer support. Once closed, you can’t reopen the same account, but you can reapply in the future if you want to bank with them again.
