Current: who holds your money

Current's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Current is not a bank; customer money sits at 2 partner banks, Choice Financial Group (letter A) and Cross River Bank (letter C). Those grades compare each bank with banks of similar size on this site. FDIC insurance reaches eligible deposits through the partner bank, subject to Current’s records identifying each customer. The stated limit is $250,000 per depositor, per insured bank, for each account ownership category, as of September 5, 2026.