ANNA Money vs Current
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
· ⭐ Ratings from G2 (real user reviews)
73/100
Free tier
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
★ Best
💰 Pricing
🆓 Free tier available
Free account with monthly fee waived if sufficient usage; otherwise subscription may be required
Fee notes:
- No monthly account fee for standard account
- FX conversion fee: 1% on transactions in non-GBP (or 1.5% if not using card? Please check)
- International payments: no fee for receiving, but FX spread applies
- ATM withdrawals: free in the UK, £1.50 or 2% for international (varies)
- Card replacement: £10 for standard, free for Premium (if applicable)
⚠ Watch for:
- FX markup of 1% on foreign currency transactions can add up
- International ATM withdrawal fees may be charged by ANNA plus any ATM operator fee
- If you need to upgrade for accounting features, costs can increase significantly
- Card replacement fee (if applicable) may not be disclosed upfront
🔧 Features
✓ Free Tier✓ Ai Assistant✓ Invoicing✓ Tax Reminders✓ Uk Business
📋 Assessment
💪 Strengths
- The AI assistant is the undeniable standout. You can simply type 'send invoice to John for £500' in the chat and ANNA drafts, sends, and tracks it. For expense management, photograph a receipt and it categorises it appropriately, extracting key data. This direct, conversational interaction genuinely reduces manual admin, which is the whole point of the product.
- The free plan includes a full business current account, a debit card, and unlimited invoicing with no monthly fees. That's a rare offering in the UK—most comparable neobanks charge £5-£10 per month for similar entry-level features. For a freelancer just starting, this zero-cost entry is a massive draw.
- Setup is frictionless. There's no hard credit check, so even those with poor or unestablished credit can open an account. In practice, this can be done in under an hour, often in minutes if your ID is ready. This accessibility opens the door for many who would be rejected by high-street banks.
- Tax deadline reminders are genuinely useful. ANNA tracks VAT and self-assessment dates, notifying you via the app so you don't miss submissions. This is a small but vital feature that helps avoid penalties, a tangible saving that offsets any perceived limitations.
⚠ Watch out for
- ANNA is not a regulated bank, so deposits are not FSCS protected. Instead, they are safeguarded under e-money regulations, which means if ANNA were to go bust, you might not get your money back as quickly or at all, though safeguarding is designed to protect it. For some, this lack of FSCS cover is a dealbreaker, especially for larger balances.
- There are no native integrations with popular accounting tools like Xero or QuickBooks. You can export statements manually, but you can't sync transactions. For freelancers who already rely on these platforms, this creates extra manual work that other neobanks often solve with seamless integration—a significant gap.
- The free plan feels limited once you have a few employees or contractors. Multi-user access, for instance, is only available on paid tiers, which start at £4.90 per month. Advanced invoice customisation is also locked behind the paywall, so your invoices will look generic until you upgrade.
- Customer support is chat-only, with no phone line. Response times can be slow during peak periods, and while the AI handles routine queries well, complex issues may require multiple back-and-forths. This can be frustrating if you need urgent help with a payment or card issue.
🎯 Best for
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle invoicing, expenses, and tax deadlines without extra admin overhead.
🚫 Who should skip
Businesses that need international banking, integrated accounting software, or access to loans and overdrafts should look elsewhere.
📚 Learning curve
Minimal — the AI chatbot and simple setup make it easy to get started, even for beginners.
🧑⚖️ Verdict
ANNA Money is a solid choice for freelancers and new businesses who want a zero-cost business account with built-in invoicing and admin automation, especially if they value quick setup and don't require FSCS protection or deep accounting integrations. It's less suitable for established businesses wi
50/100
Free tier
Digital-savvy younger consumers in the US who want a free, mobile-first bank account with early paycheck access and pare
💰 Pricing
🆓 Free tier available
No monthly fees; customers can earn cashback, use fee-free ATMs within network, and get early deposit. Premium and Metal add enhanced perks.
Fee notes:
- Out-of-network ATM withdrawal: $2.50 in U.S., $3.50 internationally (plus any ATM operator fee)
- Foreign transaction fee: 1% per transaction
- Card replacement fee: $5.00 for standard card; $10.00 for rush shipping
- Cash deposit fee: $1.00 at partnered retail locations
- Wire transfer fee: $5.00 incoming, $10.00 outgoing
⚠ Watch for:
- Out-of-network ATM fees: While Current has fee-free ATMs, using others incurs a $2.50 fee plus any operator surcharge.
- International ATM withdrawal: Even if the ATM is fee-free, Current charges $3.50 per transaction.
- Cash deposits: Depositing cash at a retail location costs $1.00 per deposit.
- Foreign transaction fee: 1% markup on purchases made in foreign currencies.
🔧 Features
✓ Free Tier✓ Mobile App✓ Early Deposit✓ Teen Accounts✓ Cashback✓ Us Only
📋 Assessment
💪 Strengths
- Early direct deposit is a major draw. Users with eligible payroll direct deposits can receive funds up to two days early, which is a lifeline for gig workers or anyone living paycheck to paycheck. The feature is automatic once you set up direct deposit, and it doesn't require a premium plan. This gives Current an edge over traditional banks that typically release funds on the scheduled payment date.
- No monthly fees, overdraft fees, or minimum balance requirements. This makes Current accessible to low-balance users who might otherwise be nickel-and-dimed by conventional banks. The fee transparency is refreshing: the account is free to open and maintain, and there are no surprise charges for basic account activity. This is a strong selling point for students and entry-level workers.
- Teen accounts with parental controls are well-executed. Parents can create a linked teen account, set spending limits, choose merchant categories (e.g., restaurants, online shopping), and lock the card instantly. They also receive real-time alerts for each transaction. This gives families a practical way to teach financial responsibility while maintaining oversight—something few banks offer at no extra cost.
- Cashback on debit purchases at 14,000+ partners. Unlike credit cards, Current pays cashback directly on debit card purchases at select merchants, with rates varying by partner (often 1-10%). Users can activate offers in the app and earn rewards automatically. This is a unique perk that adds tangible value to everyday spending, especially for frequent users of popular brands.
⚠ Watch out for
- No physical branches means no in-person help. If you lose your card, have a disputed charge, or encounter complex issues, you're limited to the app and chat support. For users who value face-to-face interaction or need help with, say, a notarized document, this could be a dealbreaker. Traditional banks and some competitors like Chime at least offer access to a network of fee-free ATMs, but Current's ATM network is limited, and out-of-network withdrawals cost $2.50 per transaction.
- US-only with weak international support. Current accounts are not designed for international travel or living abroad. There are no international wire transfers, and the card incurs foreign transaction fees (typically 3%) plus ATM fees if you withdraw abroad. For frequent travelers or expats, this is a significant limitation. The app also lacks multi-currency features that some competitors like Revolut offer.
- Customer support can be slow and is chat-only. The app's help center is decent for basic questions, but if you need to resolve a fraud issue or an ACH dispute, you'll likely wait for responses via in-app chat. There is no phone number for direct assistance. In an age where neobanks like SoFi offer 24/7 human support, Current's response times can feel inadequate, especially during high-traffic periods.
- Savings and budgeting tools are basic. Current offers 'Savings Pods' (sub-accounts) with a variable APY, but the interest rate is not competitive (often below 1%), and there are no automated savings features like round-ups, which are available in Chime or Varo. If you're looking for a bank to help you grow your money, this isn't it. It's more about daily spending and paycheck management.
🎯 Best for
Digital-savvy younger consumers in the US who want a free, mobile-first bank account with early paycheck access and parent-friendly options for teenagers.
🚫 Who should skip
People who need full-service banking with branches, extensive lending products like mortgages, or who frequently travel abroad and rely on international banking features.
📚 Learning curve
Minimal — the app is simple, and most features work immediately after account opening.
🧑⚖️ Verdict
Current is a solid fee-free mobile bank for gig workers and young adults who value early paychecks and teen oversight. However, its US-only scope, limited support, and weak savings tools mean it's not for everyone. If you need physical branches or robust international features, look elsewhere—but fo
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseANNA MoneyCurrent
Freelancer Invoicing92—
ANNA's AI assistant creates professional invoices from simple commands and sends
Tax Deadline Tracking90—
Built-in reminders for deadlines and automatic expense categorisation help self-
Expense Management85—
The AI categorises spending automatically and snapshots receipts, giving small b
Everyday Business Banking78—
It provides a functional UK business current account with a debit card, but lack
International Payments35—
International transfers carry higher fees and are not a core strength; you're be
Early Paycheck Access for Gig Workers—95
Current's early direct deposit gets wages to you up to two days sooner, which he
Teen Banking with Parental Oversight—92
Teen accounts come with parental controls, spending alerts, and card-freezing ca
Everyday Cashback on Debit Purchases—84
Automatic cashback at thousands of merchants adds value for routine spending, es
🧭 Which One Should You Pick?
Choose ANNA Money if...
- You are: UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
- 👍 AI assistant genuinely reduces admin by creating invoices and categorising expenses from simple chat
- 👍 Free tier includes a business account, debit card, and invoicing without ongoing monthly costs.
- 👍 Fast setup with no credit checks, making it accessible to new businesses and those with poor credit.
- 💰 Free tier available
- ⚠ Trade-off: Not a regulated bank, so funds are not FSCS protected; you're relying on e-money
Choose Current if...
- You are: Digital-savvy younger consumers in the US who want a free, mobile-first bank account with early paycheck access and pare
- 👍 No monthly maintenance fees or minimum balance requirements, making it accessible to low-balance use
- 👍 Early direct deposit up to two days helps you get paid faster than traditional banks.
- 👍 Teen accounts with parental controls give families real oversight on shared accounts.
- 💰 Free tier available
- ⚠ Trade-off: No physical branches, so in-person help isn't available if you run into issues.
❓ Frequently Asked Questions
Is ANNA Money really free?
Yes, ANNA Money offers a free business account with no monthly fee, including a UK sort code and account number, debit card, and basic invoicing. However, some features like international payments and cash deposits cost extra, and paid plans add advanced functionality.
What are ANNA Money's limits on the free plan?
The free plan includes a full UK business account with no monthly fee, but has limits on invoicing, card usage, and access to support. For example, you may pay per transaction or for cash deposits, and some advanced tools are only available on paid plans.
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