The Alliant Teen Checking is a special checking account designed for young relatives of Alliant Credit Union members. This checking account can be opened with an adult as a co-owner, and used for daily banking, just like any other checking account.
The Alliant Teen Checking is primarily interesting because it pays interest - and the rates are more than competitive when compared with other checking account offers available. It also comes with a range of free perks, including a contactless Visa with great security features, which your teen can use for all kinds of purchases. The Visa debit card can be linked to a digital wallet for fast and secure payments or used for cash withdrawals at any ATM in the world. Speaking of ATMs, as Alliant members, you and your teen will enjoy free access to over 80,000 ATMs across the States. Additionally, Alliant will never charge you for using an out-of-network ATM, and will reimburse you up to $20 per month in surcharge fees that ATM owners might charge you. Surcharge fees vary, but let's say you'll be able to use out-of-network ATMs around 4 to 5 times per month. If you want to avoid those fees altogether, better use Alliant's ATM locator to find the nearest ATM in your area. On the other hand, using a debit card or digital wallet to pay for your purchases can be even more convenient than handling cash.
Digital wallets are only one of the many features included in Alliant Online and Mobile Banking. Your teen can use digital banking to organize and plan their budget, monitor their account and debit card activity, make mobile check deposits, set up account alerts and automatic payments, pay bills (such as monthly subscriptions), modify their personal information, and more. All in a safe and secure way, thanks to Alliant's top-notch technology. Alliant Phone Banking might also be a simple solution for a variety of banking tasks.
There's also the Alliant Money Management and Budgeting tool that lets your teen stay on top of their money by giving them the possibility to view their net worth, define and set financial goals, and watch progress over time. Thanks to many online personal finance education resources provided by Alliant, your teen will be able to master personal finances and money management basics in no time.
Overall, if you're an Alliant member with a teen, the best way for them to start banking might be to keep your two checking accounts with the same institution. Given all the benefits and free perks included in the Alliant Teen Checking Account offer, as well as great interest rates, there's no particular reason as to why your teen should not begin their financial journey with you as a joint owner at Alliant. Only if they also want to join the credit union, of course.
Checking account details
- Free contactless Visa debit card with Visa $0 fraud liability and Digital Wallet.
- Online and Mobile Banking, with an award-winning mobile banking app.
- Phone Banking.
- Fee-free access to over 80,000 ATMs, with up to $20 out-of-network ATM usage fees reimbursed.
- Free debit card replacement.
- Free incoming wire transfer, and stop payments (for checks).
- Free overdraft protection.
- The Alliant Money Management and Budgeting Tool.
- Courtesy Pay.
- Alliant Money Mentor personal finance education resources.
- 24/7 toll-free phone support at 800-328-1935.
- FDIC-insured account.
Checking account fees
Minimum Deposit to Open$0
Out-of-Network ATM Transaction Fee$0
Out-of-Network ATM Withdrawal Fee$0
Non-Sufficient Funds Fee$25
Foreign Transaction Fee1%
Alliant Credit Union Teen Checking Account FAQ
If you don't meet any of the four eligibility requirements to join Alliant, there is an alternative way to become a member of this credit union.
You can support Alliant's partner charity, Foster Care to Success, by becoming a FC2S member. Foster Care to Success helps foster teens nationwide by providing grants and scholarships for higher educations, care packages, mentoring and internships. By joining FC2S, Alliant will make a $5 donation (membership fee) to FC2S.
If you'd like to become a member of Foster Care to Success, you'll be able to apply for Alliant membership. At the time of application, you'll need to provide your:
- Valid U.S. government-issued ID ( driver’s license, passport, state or military ID),
- Social Security Number (SSN) or Individual Tax Identification Number (ITIN).
- Personal information (name, address, contact, etc.).
Yes, both you and your teen need to be Alliant members to be eligible for the Alliant Teen Checking Account, as you will be the account co-owner.
In addition to being an Alliant member, your teen must be aged between 13 and 17.
In order for your teen to become an Alliant member, you, as its parent or legal guardian, must also be an Alliant member.
If your teen is already an Alliant member, you can apply for the Alliant Teen Checking by completing and submitting this Alliant Teen Checking application form.
If your teen is not an Alliant member, they should join first, which can be done at the same time as when applying for the Alliant Teen Checking. You'll need to complete and submit the Alliant Membership and Teen Checking application form.
You can submit your form online or sent it by mail to:
Alliant Credit Union
Attn: Account Services
PO Box 66945
Chicago, IL 60666-0945;
Or fax to: (773) 462-2124.
Yes, the Alliant Teen Checking Account is an interest-bearing checking account. However, in order to earn interest, you must meet the following requirements:
- you must opt in for online monthly statements, AND
- you must have at least one monthly direct deposit made to the Alliant Teen Checking.
Once your teen has turned 18, their Alliant Teen Checking account will become a regular Alliant Checking Account, with you still being a joint owner, unless your teen decided to remove you.
Your teen will receive a new debit card, as their old debit card will be deactivated shortly after their 18th birthday. Their new Alliant debit card will have greater spending and withdrawal limits.
Your teen's Alliant debit card comes with a daily ATM withdrawal limit of $100, in addition to a $300 daily spending limit. This will ensure your teen doesn't spend too much money on unnecessary things, and learn how to manage and organize their budget responsibly. You, as a co-owner of the Alliant Teen Checking, can also set up account alerts to keep an eye on your teen's spending and balance.
Yes! Your teen's Alliant Visa debit card has an EMV smart chip, which is a secure technology used worldwide for payments, and serves as the global standard for card security. Since it's a contactless Visa debit card, if used as a digital wallet, your teen's debit card information will never be shared with merchants - a token will be used instead the card's number for each transaction. However, thanks to Visa Zero Liability, in case an unauthorized transaction does occur, your teen will be protected against it. To prevent such risks, you and your teen can also set up account and card alerts, to monitor your card activity 24/7.
As you can see, it is completely safe to use the Alliant Teen debit card - as long as your teen is aware of potential risks, and makes sure they use the debit card responsibly. It's also important that your teen not disclose their Alliant Teen debit card information to anyone.
Both you and your teen can manage your teen's Alliant Teen debit card in Online, Mobile, and Phone Banking. You can use digital banking to:
- activate your debit card,
- order a replacement card,
- report a lost or stolen card,
- reset your PIN,
- track your purchases, which helps prevent unauthorized transactions,
- view ATM rebates,
- set up travel notices, so Alliant knows you'll be using your Alliant Teen Checking Visa debit card abroad, and more!