Chime and Current are two of the biggest mobile-first neobanks — both target younger, fee-averse customers who want modern banking without traditional bank overhead. Both offer no-fee accounts, early direct deposit, and overdraft coverage. But they serve slightly different needs: Chime is the larger, more established neobank focused on simplicity, while Current offers unique features like teen banking and points rewards. Here’s the complete comparison.
TL;DR:Chime wins for no-fee overdraft (lower qualifying threshold), larger ATM network, higher savings APY, and overall simplicity. Current wins for teen banking, points rewards, and a more feature-rich app for younger users. Both are free.
Side-by-Side Overview
Feature
Chime
Current
Monthly fee
$0
$0 (Basic) / $4.99 (Premium)
Savings APY
2.00%
0.25%-4.00% (tiered)
Early direct deposit
✓ (up to 2 days)
✓ (up to 2 days)
Overdraft coverage
SpotMe ($200, $200/mo DD)
Overdrive ($200, $500/mo DD)
Fee-free ATMs
60,000+ (Allpoint + MoneyPass)
40,000+ (Allpoint)
Cash deposits
✓ (75,000+ locations, fee up to $4.95)
✓ (retail locations)
Teen banking
✗
✓ (Current Teen)
Points/rewards
✗
✓ (Current Points)
Credit building
✓ (Chime Credit Builder)
✗
Debit card
✓ (Visa)
✓ (Visa)
Mobile check deposit
✓
✓
Partner bank
Bancorp / Stride Bank
Choice Financial Group
FDIC insured
✓ (through partner)
✓ (through partner)
Users
~15 million
~4 million
Checking Account Comparison
Feature
Chime Spending Account
Current Checking
Monthly fee
$0
$0 (Basic)
Minimum balance
$0
$0
Early direct deposit
Up to 2 days early
Up to 2 days early
Debit card
Visa (contactless)
Visa (contactless)
Overdraft coverage
SpotMe up to $200
Overdrive up to $200
Overdraft qualifying DD
$200/month
$500/month
Fee-free ATMs
60,000+
40,000+
Out-of-network ATM fee
$2.50
$2.50
Mobile check deposit
✓
✓
Zelle
✗
✗
Pay Anyone (P2P)
✓ (Chime P2P)
✓
Bill pay
✓
✓
Direct deposit required
Required for most features
Required for most features
Overdraft Coverage Comparison
Factor
Chime SpotMe
Current Overdrive
Max overdraft covered
$200
$200
Overdraft fee
$0
$0
Qualifying direct deposit
$200/month
$500/month
Starting limit
$20 (grows with usage)
$25 (grows with usage)
Max limit growth
Up to $200
Up to $200
Tip option
✓ (optional tip to Chime)
✗
Works at
Any debit purchase
Any debit purchase
Chime’s SpotMe has a lower barrier to entry — you only need $200/month in direct deposits versus Current’s $500/month requirement. Both start with a small overdraft limit that increases as you build account history.
Savings Comparison
Feature
Chime High-Yield Savings
Current Savings Pods
APY
2.00%
0.25%-4.00% (tiered)
Monthly fee
$0
$0
Minimum balance
$0
$0
Automatic Round-Ups
✓ (rounds debit purchases to nearest dollar)
✓
Savings goals
✓
✓ (Savings Pods — multiple goals)
10% automatic boost
✓ (10% of direct deposit saved)
✗
Transfer speed
Instant (to/from Chime checking)
Instant
Current’s Tiered Savings APY
Tier
Balance
APY
Basic
$0-$2,000
0.25%
With $200+ DD
$0-$2,000
2.00%
Premium ($4.99/mo)
$0-$2,000
4.00%
Premium
$2,000-$6,000
2.00%
Premium
$6,000+
0.25%
Current’s 4.00% APY is only available on the first $2,000 with a Premium membership ($4.99/month). Above $2,000, the rate drops sharply. Chime’s 2.00% applies to your entire balance with no caps or tiers.
Effective Earnings Comparison
Savings Balance
Chime (2.00% flat)
Current Basic (0.25%)
Current Premium (tiered)
$1,000
$20
$2.50
$40 (4.00%)
$2,000
$40
$5.00
$80 (4.00%)
$5,000
$100
$12.50
$80 + $60 = $140, minus $60 fee = $80
$10,000
$200
$25.00
$80 + $80 + $10 = $170, minus $60 = $110
For savings above $2,000, Chime’s flat 2.00% beats Current Premium after accounting for the $4.99/month fee. For savings under $2,000, Current Premium’s 4.00% is better — if you’re willing to pay $4.99/month.
Teen Banking
This is Current’s standout feature that Chime doesn’t offer.
Current Teen Features
Feature
Details
Age requirement
Under 18 (parent account required)
Monthly fee
$0 (included with parent’s account)
Visa debit card
✓ (teen’s own card)
Spending limits
Parent sets daily/weekly/monthly limits
Merchant blocking
Parent can block specific merchants or categories
Spending notifications
Real-time alerts to parent
Instant allowance
Send money to teen’s account instantly
Savings Pods
Teen can create savings goals
Spending tracking
Both parent and teen see transaction history
Overdraft
✗ (no overdraft for teens)
Current Teen vs Alternatives
Feature
Current Teen
Greenlight
GoHenry
Monthly fee
$0
$4.99-$9.98
$3.99-$9.98
Parent controls
✓
✓
✓
Savings goals
✓
✓
✓
Investing for teens
✗
✓
✗
Financial literacy content
Basic
Extensive
Extensive
Chore tracking
✗
✓
✓
Price advantage
Free
$60-$120/yr
$48-$120/yr
Current Teen is the most affordable teen banking option — it’s free. Greenlight and GoHenry offer more educational features but charge $48-$120/year.
Credit Building
Feature
Chime
Current
Credit Builder card
✓
✗
How it works
Secured credit card — spend what you deposit
—
Monthly fee
$0
—
Credit bureaus reported to
All 3 (Equifax, Experian, TransUnion)
—
Annual fee
$0
—
Credit check required
No
—
Auto-pay (avoids late payments)
✓
—
Chime’s Credit Builder is a genuine differentiator — it helps you build credit without a credit check, annual fee, or interest charges. You move money from your Chime checking account to your Credit Builder “secured” balance, use the card, and Chime reports your payments to all three credit bureaus. Current offers no equivalent.
Points and Rewards (Current)
Feature
Details
Current Points
Earn points on debit card purchases at select merchants
Points value
~$0.01 per point
How to earn
Purchase at partner merchants (gas, food, retail)
Redemption
Cash back to Current account
Typical monthly earnings
$2-$8 (depends on spending patterns)
Premium points multiplier
2x points on Premium plan
Current’s points program is modest — expect $2-$8/month in rewards. It’s a nice bonus but unlikely to be a deciding factor.
Fee Comparison
Fee
Chime
Current
Monthly maintenance
$0
$0 / $4.99 Premium
ATM (in-network)
$0
$0
ATM (out-of-network)
$2.50
$2.50
Overdraft
$0 (SpotMe)
$0 (Overdrive)
Foreign transaction
$0
3%
Cash deposit
Up to $4.95
Varies
Card replacement
$0 (standard) / $5 (expedited)
$4.99
Inactivity fee
$0
$0
Chime wins on fees — no foreign transaction fee (vs Current’s 3%) and no monthly fee for any tier. Current charges $4.99/month for Premium features.
WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.
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