Digital Bank Current Adds 100,000 Users in April and May

When the world went into lockdown the digital banks were one of the beneficiaries of everyone staying at home; Current has added 100,000 users in April and May and now has more than one million active accounts; founded in 2015 Current has offered free mobile checking accounts since the start of last year; CEO Stuart Sopp explains the growth, “Everyone who was tagged as an essential worker happens to fit our profile, just by dumb luck. They work at Walmart or Amazon, they’re Door Dash-ers, Instacart-ers, Uber and Lyft drivers, UPS workers, nurses or military. Our growth in the last two months has been insane.”; Current gives users access to their paychecks two days faster than banks and also provides up to $100 in free overdrafts; they work with a partner bank to provide banking services. CNBC

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.