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finder.com’s rating: 4.2 / 5.0
★★★★★
If you’re looking for an account that gives back, the Alliant Credit Union High-Rate Checking account could be a practical choice. With 0.25% APY and ATM fee rebates, this account is designed to help your money grow. But you’ll need to be an Alliant Credit Union member to qualify.
$0 per month
Fee
0.25%
APY
$0
Minimum deposit to open
APY | 0.25% Meet two requirements each month to qualify for high-interest checking. |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
ATMs | Over 80,000 surcharge-free ATMs inside Alliant Credit Union’s nationwide ATM network |
ATM transaction fee | $0 |
ATM fee rebates | Receive up to $20 in monthly fee rebates when you use an ATM outside Alliant’s ATM network |
Out-of-network ATM fee | $0 |
Foreign transaction fee | 1% |
Overdraft fee | $28 |
Nonsufficient funds fee | $25 |
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
Alliant Credit Union High-Rate Checking account is best for those looking for an interest-bearing account. It earns up to 0.25% APY and has no monthly service fees. Plus, you’ll get reimbursed for up to $20 in monthly ATM rebates.
But you’ll need to become an Alliant Credit Union member to open the account.
To open an Alliant Credit Union High-Rate Checking account, you must first become an Alliant member.
To join Alliant, complete the online membership application or print out a member enrollment application from Alliant’s website. Complete the form and mail it:
Alliant Credit Union
PO Box 66945
Chicago, IL 60666-0945.
Once your membership is confirmed, you can apply online for the High-Rate Checking account. Your Alliant Visa debit card and first box of checks will be mailed to you within seven to 10 business days.
Meet the following criteria to be eligible for the Alliant Credit Union High-Rate Checking account:
Before you start your application, gather the following:
You’ll receive mobile banking and overdraft protection with Alliant’s high-rate checking account, along with the following:
The Alliant Credit Union High-Rate Checking account comes with a Visa debit card. With it, you can access over 80,000 surcharge-free ATMs inside Alliant Credit Union’s nationwide ATM network.
Using an ATM outside Alliant’s network may result in a surcharge but Alliant offers rebates up to $20 in ATM fees monthly. The rebate applies to any deposit, withdrawal, transfer or balance inquiry made at a non-Alliant ATM, but doesn’t apply to cash advances.
In addition to $25 outgoing wire transfer fees, the Alliant Checking account has these potential drawbacks:
If you don’t meet the eligibility requirements to become a member, you’ll want to keep looking. As always, compare your options when choosing a checking account.
With an Alliant checking account, you can access your funds in five ways:
Aside from its High-Yield Checking account, Alliant also offers the Teen Checking account, designed to help teens manage their money through joint account ownership with a parent or guardian.
The account is available to teens between 13 and 17 years old and offers 0.25% APY, no service fees, ATM fee rebates and a Visa debit card.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.