In the U.S., checking accounts are often a consumer’s first entrance into the financial system. However, many Americans are still underserved and overcharged by their financial institutions, with the average U.S. household paying more than $300 in bank fees every year. There is an opportunity for new entrants to reimagine the banking experience, starting with the checking account and the debit card. Debit accounts for more than $3T of annual card spend per year and is the most common payment method ahead of credit cards and cash.
Current is improving consumer access to the financial system with its no fee digital bank account. They allow today's consumers to manage their financial lives with a no-fee checking account, savings pods, early paycheck, free overdraft, peer-to-peer payments, bill pay & other benefits ‒ for $5/month.
