#LoyaltyPrograms / Mobile bank Current launches a points rewards program for debit card users

… challenger bank Current is launching a new program that will offer points-based rewards to its checking account customers. The program will allow Current members to earn up to 15x points on everyday debit card purchases…

The points program is an alternative to other credit cards’ “cashback” offerings, which reward users immediately with cash they can keep or apply to their next bill. Instead, Current’s points will accumulate under a user’s account to certain thresholds, then can be redeemed for cash at a rate of 100 points per dollar. They can also be used for subscriptions.

… the program will also allow Current to stand out among a growing number of alternative banking apps that are starting to all look the same thanks to a baseline of consumer-friendly features like no-fees banking, free cash withdrawals and modern mobile budgeting tools, among other things.