BankingCurrent, the 1st fintech to receive government stimulus payments

PRNewswire PRNewswireJanuary 4, 20213 min

Current, a leading U.S. challenger bank serving Americans overlooked by traditional banks, announced it was the first fintech in the country to receive the second round of government stimulus payments.

Current received the payments before 9 p.m. ET on Tuesday, less than three hours after the U.S. Treasury announced the funds were being issued, and is making all funds fully available to all members immediately, as part of its mission to improve financial outcomes.

“We’re proud to once again be the first fintech in the country to credit the stimulus funds, especially at a time when many Americans are hurting for cash more than ever,” said Stuart Sopp, Current CEO and Founder. “We will be making all funds fully available to all members immediately. Nearly two thirds of the stimulus funds were spent within five days in April, mostly on life’s essentials, and we expect our members to spend the money in a similar way.”

When the first round of stimulus payments was issued in April with passage of the CARES Act, Current was the first fintech in the country to credit the payments, which was five days faster than traditional banks, and also credited all member accounts immediately. Most of the money was spent on life essentials such as food/groceries, gas and paying back friends and family.

For more such Updates Log on to Follow us on Google News Fintech News



Leave a Reply

Your email address will not be published. Required fields are marked *

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications

FintecBuzz, 2021 © All Rights Reserved