Digital bank Current sees ‘insane’ growth driven by gains among low-wage earners


Digital banks like Chime and Square’s Cash App have added millions of users by offering streamlined, mobile-first accounts without the pesky fees associated with brick-and-mortar banks.

To that list of disruptors, add the New York-based start-up Current.

Current, founded in 2015 by former Wall Street trader Stuart Sopp, has offered fee-free mobile checking accounts since the start of last year. It has seen customer growth surge during the coronavirus pandemic, adding more than 100,000 users a month in April and May, Sopp said in a telephone interview. The company recently exceeded 1 million active accounts and expects to double in size this year, he said.

That’s because Current has taken…


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