April 27, 2020: We understand that some of our members have lost their jobs as a result of the COVID-19 pandemic that has unfortunately caused many businesses to cut jobs or shut down entirely. In the midst of very uncertain and trying times, we're here to help get much-needed cash into the pockets of all our members as quickly as possible.
If you have recently lost your job, you may qualify for unemployment benefits, and you can receive your payments up to two days faster every week when you sign up to receive them with direct deposit to your Current premium account. Here are some answers to more questions you might have:
How do I receive my unemployment payments faster?
At Current, we credit members' accounts with funds as soon as we receive the information from the government. We do not wait for the funds to settle like traditional banks so you can have access to your money up to two days faster every week when you sign up to receive it via direct deposit to Current on your unemployment claim.
You can sign up using your Current routing and account numbers, which can be found by tapping into the balance on the home screen of your Current app.
We always believe you should have your own money as soon as possible and especially at a time like this we're committed to delivering it to our members as quickly as we can.
How much money will I receive in unemployment benefits and how do I know if I qualify?
Unemployment benefit amounts and guidelines vary per state you live and work in. However, under the CARES Act signed into law in March, an additional $600 per week per person is available in unemployment insurance, which is on top of the amounts already provided by your state. The law also expanded unemployment benefits to cover independent contractors, freelancers and many employees who would not typically qualify.
Under the law states were also able to extend unemployment benefits for an additional 13 weeks under the new Pandemic Emergency Unemployment Compensation (PEUC) program. In total, individuals may be eligible to receive unemployment benefits for up to 39 weeks, which are available retroactively starting with weeks of unemployment beginning on or after January 27, 2020, and ending on or before December 31, 2020 according to the Department of Labor.
Where do I file for unemployment?
Please visit the Department of Labor's website to file your claims and for all further information on qualifications, amounts and guidelines, which will vary per state.
If you have additional questions on if you qualify for unemployment or the amount of your payments, please contact the Unemployment Insurance Office in your state.
Don't have a Current account and want to receive your money up to two days faster every week? Download on our app on the App Store or Google Play and sign up for a Current premium account in just two minutes.