Current Bank Name and Address (How to Set Up Direct Deposit)

Written By Branson Knowles

Current is an innovative online-only account that has its actual banking services provided by Choice Financial Group. One of Current’s features is direct deposit, so how do you set it up with the fintech platform?

Setting up direct deposit through Current is easy and can be done through the app. Download and open the Current app on your mobile device and head to the Money tab. Click Set Up Direct Deposit, find your employer, log into your employer portal, and it’s set up.

Current’s banking services are provided by Choice Financial Group, and their address is listed as 4501 23rd Ave S Fargo, ND 58104 in Fargo, North Dakota. You won’t need their bank’s information to set up your direct deposit, but it’s always helpful.

Current will give you a list of popular employers that you can pick from. If you can’t find your employer on the list, you can search for them using Current’s search bar. Once you find them, log into your employee portal like you would to check your paycheck.

Current will automatically bring over your account information, including the name of your bank as well as your routing number and account number. If you’re having trouble logging in, or can’t find your employer on the list, Current can give you a form you can email to your employer.

The form will have everything you will need to set up direct deposit, including the information above and how much of your check you want to deposit in Current. I think it’s a good idea to just log into your job’s online portal, but if you can’t the form will work just as well.

Current offers direct deposit for free to all of their customers. You don’t have to do anything to qualify for it, and you can even receive your checks up to two days early. 

Current communicates with several payroll companies, so if they know how much you’ll be getting ahead of time they can give you your paycheck early.

You can also qualify for fee-free overdrafts if you enroll in direct deposit through Current. Current will let you overdraft your checking account up to $200 before declining your purchases, never charging a fee along the way either. 

The last way to set up direct deposit through Current is through your Current routing number and account number. If your employer doesn’t require a form, and instead just needs to know where they’re sending money, you can send them a screenshot of your account information.

Current’s Money screen even lists your current employers that are paying you through direct deposit. 

How to Set Up Direct Deposit with Current

Setting up direct deposit through Current is easy. You can do everything from start to finish right in the app. 

Download and Open the Current App

If you don’t already have it, you can download the Current app for free on whatever device you’re using.

Once you download the app, log in and create your profile.

my current app

2. Click on the Money tab

The Current app has five tabs on the bottom of the screen, with the Money tab being the second of the five.

Click on it to set up direct deposit.

current money tab

3. Click Set Up Direct Deposit

The Money tab is where you can pay other Current users, add or move money, or set up direct deposit.

Click set up direct deposit towards the top of the screen.

current setup direct deposit

4. Click Continue and find your employer

Current will give you a list of a ton of different employers you can choose from.

continue and find employer

If you work for a major company, like McDonalds or Walmart, chances are your company will appear immediately on the front screen.

If you don’t, you can search for your employer or the payroll company that pays your direct deposit in Current’s search bar.

who pays you

Once you find your employer, log into their portal like you would any other time you were checking your paycheck.

The log in will connect your payroll service to Current and send your paychecks to your online checking account on your behalf. 

5. Get your direct deposit info manually (if step 4 didn’t work)

If you couldn’t find your employer through Current’s list, you can just get your information and hand it to them manually.

send form to employer

All you really need is your Current account number, Current routing number, and the fact that you’re banking with Current.

You can get your account number and routing number from the direct deposit screen as well as a pre-filled form with all of your direct deposit information as well.

setting up direct deposit using account information

Once you’ve set up your direct deposit with Current your paychecks will go to your online bank account automatically until you change it. It’s free and even comes with a bunch of benefits to boot!

What is Current?

With all of the new fintech companies and online banks emerging on the market, I couldn’t blame you for not knowing exactly what Current is.

It’s a fintech company, not a bank technically, and their goal is to offer something a little different from what traditional banks offer.

Traditional banks, like the big banks in America, usually have a ton of different fees you need to try and avoid as a customer. They have overdraft fees, minimum balance fees, and even monthly maintenance fees. Current doesn’t have any of them.

Current works to serve the underbanked and the unbanked, Americans who don’t have access to traditional banking methods. They try to offer easy to access accounts to their customers who may not be able to get them elsewhere. 

They also offer savings accounts with some of the best interest rates on the market. Currently, my Current savings account has a 4.00% APY, better than most banks’ certificate deposits!

If you are looking for a bank account but don’t qualify for a traditional one, Current may be the choice for you. They’re free, easy to use, and you can close your account whenever you like.

What Do You Get with Current Direct Deposit?

Current not only offers direct deposit for free, but they’ll get their customers who are enrolled unique benefits for doing so.

Every bank, fintech company, and financial institution wants to receive your direct deposit and Current is willing to give you some fun benefits for it!

If you move your direct deposit over to Current, you could receive your paycheck up to two days early. Current communicates with your payroll company to see how much money you’ll be receiving on payday and sends you that amount up to two days early.

You can also gain access to fee free overdrafts once your direct deposits are going through Current. Once they know that you have money coming in on a regular basis, they will be willing to let you overdraft your account up to $200 for free.

They’ll never charge you a fee while your account is overdrawn; once you’re negative $200, they’ll just start declining your transactions. 

Current is a great fintech company for anyone who may not have access to a traditional bank but still needs to have a debit card and somewhere to receive their direct deposits.

They do want to let their customers know that direct deposits take up to two pay cycles to go through. Be sure to keep your old account open until the deposits have moved over to Current.

How Long Does Current Direct Deposit Take?

Current’s direct deposit feature works a lot like any other bank, fintech company, or online bank.

Once the payroll provider has let them know how much you’ll be receiving and when you’ll be receiving it, Current can add the balance to your account.

Current doesn’t take any longer to process direct deposits than any other financial service provider. In fact, they’re faster than most. They can even get you your direct deposit up to two days early. 

If your payroll provider communicates with Current, they can let them know how much you will be receiving and when you’ll be receiving it, so Current can fund your account with your paycheck two days before you would have even gotten it.

When you’re first setting up direct deposit with Current, you should be mindful of how long it takes for the direct deposit to move over. It usually takes up to two pay cycles to move over a direct deposit, and with Current the time period is no different. 

As an ex-banker who used to work for Chase Bank, I would recommend not closing your old direct deposit account until your new Current account is receiving them. Once an account is closed, it is very difficult to get any funds from it.  

Does Current Require Direct Deposit?

I wouldn’t blame you for thinking Current required direct deposit. They’re an online bank (well, technically a fintech company), so potential customers may think there is no way to fund their account outside of direct deposit.

There is. Current doesn’t require that their customers are enrolled in direct deposit to have an account with them. You can fund your Current account through a variety of different methods, allowing you to keep your account open with an active balance.

If you want to fund your Current account but don’t want to link your direct deposit to it, you can always link a bank account and fund it from there. You can also receive transfers from other Current users that will go straight to your balance.

Current also allows you to deposit cash straight into your account. They don’t have any physical locations you can go to to make your deposit, but they have partnered with a series of retail stores that will accept cash from you.

Simply head to their app, click on deposit cash, and they will give you a list of locations who are willing to accept your cash deposit from you. 

Lastly, you can always take a picture of a check you’ve gotten and deposit it straight into your Current account. Make sure the picture isn’t blurry and the check is negotiable and you should see the full balance once the check processes in just a few business days.

More Useful Articles About Digital Banking

About the Author

Lead Researcher, Digital Banking in the U.S. at TopMobileBanks

Branson Knowles is a former banker and current writer at TopMobileBanks.com.

During his years banking, he helped his clients discover their financial freedom through smart savings and spending goals. He started as a teller before becoming a banker and obtaining his federal licenses, furthering his clients' on their financial journeys.

After becoming one of the top producing bankers in the state, Branson decided it was time to pursue his own financial freedom. He started writing freelance finance articles before joining TopMobileBanks.com, breaking down banking like only an ex-banker could.

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