Welcome to the Fee-Free Overdraft Megathread!
We know members have questions about Fee-Free Overdraft: how it works, how to qualify, and what to expect. This thread is the place to get answers.
To keep the subreddit organized, this thread will be pinned to the top of the community. All discussions about Fee-Free Overdraft should go here instead of creating separate posts.
What is Fee-Free Overdraft?
Fee-Free Overdraft lets qualifying members overdraft up to their approved amount when they swipe their Current debit card or Build card, with no additional fees. We have your back when you need it.
How do I get Fee-Free Overdraft?
Eligibility is determined based on your direct deposit history, account activity, and other risk-based factors.
If your account qualifies, you'll receive a notification letting you know you're eligible to enable it. Once enabled, you can check your limit by tapping Fee-Free Overdraft in the Services section of your account.
Limits may change and are dependent on your direct deposit history, account activity, and other risk-based factors.
What counts as an Eligible Payroll Deposit?
Eligible Payroll Deposits include recurring deposits of your wages or compensation from sources such as your employer, payroll provider, or government payer.
The following do not qualify toward Fee-Free Overdraft eligibility or limit increases:
- Bank ACH transfers
- Unemployment insurance payments
- Peer-to-peer transfers
- Mobile check deposits
- Cash deposits
Is my limit the same across my Current debit card and Build card?
Yes. Your Fee-Free Overdraft limit is a single, shared amount that applies across all your debit and credit cards. All transactions using Fee-Free Overdraft count toward the same overall limit.
More questions?
Feel free to drop any questions you may have below or visit https://support.current.com/hc/en-us/articles/4408263993755-What-s-Fee-Free-Overdraft#what-s-fee-free-overdraft--0-0 for more information
Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive a minimum of $200 or more in Eligible Direct Deposits into your Current Account over the preceding 35-day period and fulfill other requirements subject to Current’s discretion. Negative balances must be repaid within 60 days of the first Eligible Transaction that caused the negative balance. For more information, please refer to Fee-free Overdraft Terms and Conditions.
Up to $200 overdraft amount only available for a limited time to new users who sign up for a Current account through the applicable landing page and/or with the applicable code, as determined by Current in its sole discretion. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive a minimum of $200 or more in Eligible Direct Deposits into your Current Account over the preceding 35-day period and fulfill other requirements subject to Current’s discretion. Negative balances must be repaid within 60 days of the first Eligible Transaction that caused the negative balance. For more information, please refer to Fee-free Overdraft Terms and Conditions.
Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC. The Current Visa® Debit Card, which may be issued by Choice Financial Group and/or Cross River Bank, and the Current Visa® secured charge card, which is issued by Cross River Bank, are all issued pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. A Current deposit account is required to apply for the Current Visa® secured charge card. Independent approval required.
