Does an Alliant 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 Teen Checking Account: Direct deposit, monthly ATM deposits or transfers from another financial institution into your Alliant account.