Current, a New York-based banking platform, plans to add a cash-deposit feature to its banking app by early August, following the likes of Varo Money and Green Dot Unlimited. The challenger bank saw a surge in new users due to the pandemic, adding 200,000 customers in April and May alone. 

“This pandemic has made a lot of customers look at the services we offer and embrace it like never before,” said Stuart Sopp, chief executive and founder of Current. “We plan on adding more features to our platform to better assist our existing users and attract more customers.”

Current plans to add the “Cash-In” deposit feature to its mobile banking app this summer, allowing customers to deposit cash at select stores across the country. Sopp said 7-Eleven has signed on to offer the service, and the fintech is in talks with additional vendors.

“A customer can walk in a 7-Eleven store with cash, hand it over to the cashier and scan a barcode on the Current Bank account app to make the deposit,” Sopp said. 

According to the company, Current has gained 600,000 customers since September and now has 1.1 million customers total. Current expects its user base to double to over 2 million by the end of the year. 

Whether these numbers will translate to sustainable growth remains to be seen. Ron Shevlin, director of research at Cornerstone Advisors, said many Americans using digital banking platforms transfer money into them from outside accounts. “They’re looking for better tools, rates, and/or rewards,” he wrote in Forbes. “As a result, they ‘accessorize’ their primary checking account with ancillary or secondary accounts from providers who can give them those things.”

With more than 130 million Americans living paycheck to paycheck, Current’s services are being embraced by low-wage earners, Sopp said, adding that the majority of Current’s account holders work for Amazon, FedEx, DoorDash, Instacart and Uber. He added that these workers are attracted to Current’s early direct deposit, zero overdraft fees and instant money transfers.

Current offers its customers free $100 overdrafts and early access to their paychecks, and helps customers avoid bank charges and overdraft fee cycles, Sopp said, aiming to lower “financial barriers” by reducing unnecessary service charges on financially vulnerable account holders. The platform also provides its customers with instant money transfers, mobile check deposit and spending insights.

Current’s partner bank is the New York-based Metropolitan Commercial Bank. According to the company, customers spend an average of $1,100 from their Current account each month.

See also: Why Chase decided to drop digital-banking app Finn

In an extended Series B round, the challenger bank recently raised an undisclosed amount of additional funding from Foundation Capital this past week, taking the total capital raised to $55 million. 

“We raised the capital to lean into our exponential growth and diversify our product offering to our customers,” Sopp said. “We plan on having our Series C funding round by the end of this year, in accordance to our growth.

Bank Innovation Build, which takes place Sept. 9-10 as a virtual experience, is a must-attend industry event for professionals overseeing financial technologies, product experiences and services. Register here.