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How do I earn a bonus on my Savings Pods?

Earn a bonus of up to 4.00% annually on your Savings Pods on balances up to $2,000 per pod. The bonus rate is the amount of money paid by Current that you will earn over the course of 12 calendar months.

There are two rates, a boosted and a base rate, that you will earn based on certain qualifying criteria. To earn the 4.00% bonus rate, maintain a qualifying direct deposit of more than $200 per month. Otherwise, you’ll earn the base bonus rate of 0.25% annually on your Savings Pods.

What's a Savings Pod?

Savings Pods are a way to save for whatever you want, whether that's a rainy day fund, a vacation, or even monthly expenses like groceries! A Current Account comes with three Savings Pods. 

You can click here to learn more about Savings Pods. 

What is Current Boost?

Current Boost allows you to grow your Savings Pods balance with a bonus rate of up to 4.00% on up to $2,000 of deposits per pod. Your bonus is the amount of money paid by Current that you will earn over the course of 12 calendar months.  For further clarification, a bonus under Current Boost refers to the daily payments from Current. Current is not a bank and bonuses paid out under Current Boost are not a bank-provided annual percentage yield or savings account. They are paid solely by Current. This bonus is promotional and can be discontinued, restricted, or modified at any time. Any Current bonuses earned will be reported on IRS Form 1099-MISC (or Form 1042-S, if applicable).

How do I create a Savings Pod and start earning?

Visit the Home screen, and scroll to the middle of the screen to find Savings Pods. Tap on the Savings Pods card, and tap on the button that says Create a Savings Pod. Once you create a Savings Pod and add money, tap Earn 4.00% to start earning a bonus rate of 4.00% annually upon posting a qualifying payroll direct deposit of $200 or more to your Current account. Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a bonus of at least $0.01.

Is my money kept in Savings Pods safe?

Yes. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC.

Is there a minimum amount I need to save in a Savings Pod to start earning?

You can start earning bonuses on your Savings Pods with as little as $0.01. The bonus rate that your savings pods earn is determined based on the qualifications listed above.

Do Savings Pods come with any money movement restrictions?

No. There are no restrictions to move money in and out of a Savings Pod. There are also no transfer restrictions or penalties associated with moving money in or out of a Savings Pod, either.

How are payments calculated?

The bonus amount that you should be earning is calculated daily on the funds you deposited in your Savings Pod (up to $2,000 per Savings Pod), and the incremental daily amount paid by Current adds up to the average rate that you qualify for over a calendar year.

When do I receive payouts?

Daily. Current will credit you for bonuses under Bonus Earned, which can be viewed from the “Transaction History” on each Savings Pod.

Do I earn on all of my Savings Pods?

You will receive payouts from Current on any Savings Pod where at least $0.01 of principal is stored.

Can I earn a Current bonus on balances outside of Savings Pods?

No. You will only earn a bonus on balances in your Savings Pods.

What is the qualifying criteria for receiving a bonus?

To earn the bonus rate of 4.00% annually, maintain a qualifying direct deposit of more than $200 per month into your Current Account.

How do I know what rate I’m currently earning?

The bonus rate that your Savings Pod is currently earning is displayed on the Savings Pod page. Any time the bonus rate that you qualify for changes, you will receive a notification from Current.

I believe I should qualify for a different rate. How can I get help?

If it appears that you are receiving a different rate than you expect, please contact us in the Current app or by clicking here for assistance.

Is there a limit to how much I can earn?

You can store any amount of money you want in Savings Pods, but the maximum amount you can earn a bonus on is $2,000 per Savings Pod. If you want to earn a bonus on more than $2,000, create multiple Savings Pods. With a Current account, you can have up to 3 savings pods at a time and earn a bonus on each one up to $6,000 total.

Do my payouts expire?

No, any bonus you receive from Current is yours to keep.

Can I stop receiving payments?

Current Boost can be disabled on a per-pod basis. Please contact us in the Current app or by clicking here for assistance.

Anything else I should know?

The bonus rates are variable and may change at any time. The disclosed bonus rates are effective as of August 1, 2023. You must have $0.01 in a Savings Pod to earn a bonus. Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a bonus of at least $0.01.

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