The first step on the path toward adulting

Teens who learn how to be responsible with their money today are more likely to make good financial decisions tomorrow.

The Run Down
  • Members between 13–17 years old are eligible
  • Joint ownership for parents (joint owner must be an Alliant member)
  • No minimum or maximum balance and no monthly service fee78
  • Easily manage money through mobile and online banking​
  • ATM rebates up to $20/month for out-of-network ATMs78 (excludes 1% Visa foreign transaction fee)
  • Free Visa ® debit card – one for you and one for your teen – and a free box of checks (with your name and your teen's)78
Rates
0.65 %
APY
0.648 %

Supercharge your free teen checking account with the high-rate checking option. Simply opt in to eStatements and have at least one monthly electronic deposit to the teen checking account to start earning our great interest rate. Learn more about high-rate checking.

Summer job tips for teens

Get tips to help your teen find a summer job and save money. 

Learn about teen jobs


Alliant teens accounts as seen in the New York Times

As seen in The New York Times

2017 Best Banks for Students - Kiplinger's says Alliant has best free checking account for high school students

"2017 Best Banks for Students" - Kiplinger

Nerdwallet ranks Alliant Teen Checking best of 2016

"Best Teen Checking Accounts of 2016" - NerdWallet


All the perks of Alliant Free Teen Checking

Easy ATM access

Tired of ATM fees? Every ATM is your teen’s ATM with 80,000+ fee-free ATMs and fee rebates up to $20/month (excludes 1% Visa foreign transaction fee)78.

Mobile-friendly

Your teen's smartphone and the Alliant Mobile Banking App make account management and budgeting easy. And they don't even need to carry their debit card with them, because it's compatible with Apple PayTM, Samsung PayTM and Android PayTM

No unexpected fees

We won't charge you or your teen a monthly service or minimum balance fee: Alliant Free Teen Checking really is free! But be sure to review our fee schedule with your teen to make sure they understand how to avoid other fees, like those for non-sufficient funds.

Smart limits & parental monitoring

Daily debit card limits of $100 in cash withdrawals & $300 in spending provide peace of mind. Plus the adult joint owner has full account access and can set up transaction alerts to monitor your teen's spending.

Transferring money to your teen is a breeze

It's easy to move money from your Alliant account to your teen's, whether it's a one-time transfer or recurring allowance transfers. Standard ACH transfers are free, and only a parent/guardian can set up outgoing transfers.

Personal financial management (PFM) app

Alliant's online and mobile banking have a built-in PFM to help your teen review their spending patterns. It helps them see if it's fast-food meals or app store purchases that are the biggest drain on their wallet, making it easier to adjust their spending. 

Tips for Parents

What's the key to teaching your teen smart money management skills? It's talking to them about money and giving them increasing responsibility for managing their own spending.

  1. Help your teen review his/her bank statement.
  2. Discuss smart spending habits and brainstorm ways they can spend smarter to reach savings goals faster.

  3. Encourage your teen to set aside part of the money from their summer job or gifts from grandparents. Saving 10% of their income is a great goal, and will start them down the path to responsible adulthood and living within their means. 

Teaching your teen about money

Check out this video for great tips on ways to teach your teen about smart spending and saving. 

Step 1: Download and fill out a Teen Checking application

Is your teen a member of Alliant?

(membership is required)

Yes, my teen is already a member. I only need to open a Teen Checking Account.

Teen Checking (PDF)

No, my teen isn't a member yet, I need to open their membership and Teen Checking Account at the same time.

Membership + Teen Checking (PDF)

Step 2: Submit application

Teen Checking applications are transacted via secure email. Just fill out the form below and we will email you with instructions within one business day.

 

We’ll give you a call if we need additional information from you. If you have mailed in your application and haven’t heard from us about the status of your account within 14 business days – or if you've faxed in your application or dropped it off a branch & haven’t heard from us within 7 business days – give us a call at 800-328-1935 and request an update.


Need an alternative way to submit your application?

Mail to:

Alliant Credit Union 
Attn: Account Services
PO Box 66945
Chicago, IL 60666-0945

Fax to:

(773) 462-2124

Visit a branch

Find a branch near you

Free Teen Checking Account Rates61

0.65 %
APY
0.648 %

Let Me Know When Alliant Rates Gets Even Better

Free Teen Checking Fees

Non-standard service fees may apply. Fees subject to change. View our full fee schedule.

Overdraft Transfer (max per day) $3
Non-Sufficient Fund (NSF) Item (each) $25

Free Teen Checking FAQs

Who is eligible for an Alliant Free Teen Checking Account?

Members who are 13–17 years of age are eligible to open an Alliant Free Teen Checking Account.

As a joint owner on a Teen Checking account, will I be able to view it in Online Banking?

Yes, joint owners can view your teen’s checking and savings accounts once given access. To view Alliant joint account(s) within online banking, the primary account owner must first give access.

For teen checking accounts, your teen should log in to Alliant Online Banking, then:

1. Select “Settings”
2. Select “Joint Owner Management”
3. Select “Manage Online Access”
4. Select the account(s) your teen would like you to have access to
5. Click the “Update” button

After your teen completes the above steps, you can then log in to your own Alliant Online Banking to view your teen’s checking account. 

How can I transfer funds from my account to my teen’s accounts?

You can transfer funds to your teen’s account by using our “Transfer Money” module within Alliant Online Banking. Transfers can be made member-to-member or to external accounts and can be scheduled as one-time or setup to be recurring.

Does Alliant’s Free Teen Checking Account pay interest?

Yes, but you must meet two simple requirements monthly to qualify. If you don’t fulfill each requirement monthly, you won’t earn high-yield checking interest for that month. Requirements include:

1. Opt out of paper statements and start receiving free eStatements.

2. Have at least one of the following recurring monthly electronic deposits to your Alliant Free Teen Checking Account: Direct deposit, monthly ATM deposits or transfers from another financial institution into your Alliant account. Transfers between your Alliant accounts do not qualify as an electronic deposit.

What happens when an Alliant Teen Checking Account holder turns 18?

The Alliant Teen Checking Accounts will automatically convert to a regular Alliant Free Checking Account once the account holder turns 18. The existing joint owner(s) will continue to remain as joint owner(s) unless they are specifically removed by the primary owner. The primary owner must set up a new password in Alliant Online Banking to access their accounts, as their old password will be disabled. To set up a new password, select “problems logging in” on the online banking login page, then follow the prompts. We'll send a new debit card, which should be activated as soon as possible. The debit cards for the teen account should be shredded, as they will be deactivated shortly after the teen's birthday. At account conversion, the daily ATM Debit Card spending and withdrawal limits will be increased to the regular checking account limits.

What is the difference between a regular free checking account and a free teen checking account?

The free teen checking account must be opened as a joint account with a parent or guardian. It offers many of the same features as our free checking account, but it offers greater peace of mind for parents or guardians through a variety of controls.

What’s the difference between a wire transfer and an ACH transfer?

The term “wire transfer” is often used to refer to any electronic transfer of money from one person to another by transferring funds from one financial institution to another for a service fee.

How do I report a lost or stolen debit card or credit card?

If your card is lost or stolen, please call us at 800-328-1935 (24/7). For international callers, please contact us at 773-462-2000 (24/7).

How do I set up a recurring transfer to my child’s savings or teen checking account?

Use the Transfer Money form to create a recurring transfer into your child's savings or teen checking account. 

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