How to Receive Direct Deposits with Current in 2023

Written By Adrian Volenik Reviewed By Tommy Gallagher
current bank name

Like many other challenger banks, Current isn’t actually a bank. In fact, Current is a financial technology company that offers banking services to millions of users. 

People love Current because it’s convenient, easy to use, and easy to register online without documents but your ID. 

But, which bank is Current using to bring you its services? What bank should you use for direct deposits?

Current has partnered with Choice Financial Group, Member FDIC. This bank is issuing Current’s debit cards, and it is this bank’s name that you should use when setting up direct deposits. 

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How to Set up Direct Deposits With Current

Direct deposits are an easy way of getting money from your employer to your account. Current, like many other digital banks, helps you receive your funds up to two days early. For some people, this can literally be lifesaving. 

Setting up direct deposits with Current is easy. To set it up, simply follow these steps:

  1. Open your Current app
  2. Tap the profile icon
  3. Tap “Direct Deposit”
  4. Tap “Next”
  5. Add the name of your employer
  6. Copy your routing and account numbers

After you have successfully completed this setup, the app will send the request automatically to your employer. Alternatively, you can email your employer a detailed PDF yourself. 

However, be aware that it usually takes up to two pay cycles until the direct deposit kicks in. You just have to be a bit patient.

READ ALSO: Cash App Bank Name (For Direct Deposit and Cash Card)

How to Find Account and Routing Numbers

You can, of course, manually set up the direct deposit with your employer. For that, you’ll need your Current account and routing numbers. To find them, tap on your account balance and then tap on “Account Numbers.”

If your employer demands you supply them with a voided or sample check, no problem. You can generate it from the same app menu.

Account and routing numbers can be found on checks as well. Apart from being used for setting up direct deposits, you can use them to transfer money from other bank accounts to your Current account, to pay bills, etc. 

And, as previously mentioned, you should use Choice Financial Group as the bank name and not Current. 

What’s The Difference Between The Bank Routing Number and Account Number?

bank details illustration

We already know that routing and account numbers are important pieces of information. But what exactly are they, and what’s the difference between them? 

Simply put, they help establish a connection between your own bank and an external bank in order to transfer funds between the two institutions.  

They are necessary for ensuring that the funds are deposited or withdrawn to and from the correct accounts. 

The routing number indicates what bank you have an account with, and the account number is your individual and unique identifier at that bank. 

You see, every account you open in a bank gets its own unique account number. So, if you have a checking and a savings account at the same bank, you’d get different account numbers but only one routing number. 

READ NEXT: An Easy Way to Transfer Money from EDD Card to Bank Account

Are Your Current Funds FDIC Insured?

There’s no point in setting up a direct deposit if your funds aren’t going to be insured by the government, just like traditional bank accounts

You’ll be happy to know that all your Current funds, up to $250,000, are insured by the FDIC through Capital Financial Group, Member FDIC. 

That means that if Current becomes insolvent and you aren’t able to access your money in your Current account, you will be compensated by the government, or more exactly, by the Federal Deposit Insurance Corporation (FDIC), an independent agency formed by the US Congress to uphold stability and public trust in the financial system. 

About Choice Financial Group 

Choice, the bank behind Current, was formed in 2001 when four local banks merged. The banks in question are:

  • Citizens State Bank Grafton-Petersburg (Grafton and Petersburg)
  • First Capital Bank of North Dakota (West Fargo and Goodrich)
  • First State Bank Langdon
  • Walhalla State Bank

From then and there, Choice Bank continued expanding and even started venturing into the financial technology industry. 

The bank first partnered with Lively, a modern health savings account provider, in 2018. After that, the bank partnered with the following digital banks and fintech companies:

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  • Current
  • lili 
  • Doough
  • Mercury
  • Qube
  • Unit 

RELATED: Get Paid Early [10 Apps to Get Your Paycheck Early]

What is Current?

If, even after reading all of this, you’re still confused about what Current is, let’s shed some more light on it. 

Current is a financial technology company that offers a checking and savings account built for the modern age. It’s a mobile app and a debit card with added tools and benefits.

For instance, you get an account with low or no fees, faster deposits (up to two days earlier), a debit card you can use worldwide, so-called Savings Pods that bring in 4.00% APY, up to $200 overdraft with no fees, cash back, a network of 40,000 fee-free ATMs, and much more.   


Just like many other challenger, or digital banks, Current isn’t a real bank. In turn, it uses an established bank called Choice Financial Group (Choice Bank) to offer modern-day banking products and services. 

This has helped launch it into one of the most popular digital banks in the country with around 3 million users. 

About the Author

Chief Editor at TopMobileBanks

Adrian is a fintech expert who has tested hundreds of financial apps, cards, and accounts. His love for testing digital banks, payment apps, and financial products, in general, is unmatched.

How many digital banking accounts can one man have?

Not enough, if you ask Adrian. As his wallet will soon explode if he doesn’t cut back on the number of cards.

On the plus side, they have enabled him to create awesome How-To Guides that you can read on our site.

Tommy Gallagher is an ex-investment banker and founder of TopMobileBanks.

He is an early participant in banking digital transformation and fintech development. His consulting clients include prominent startups in the US and Europe.

Here on, he is covering macro trends in the digital banking industry.

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