What is the difference between a regular checking account and a teen checking account? An Alliant Teen Checking account must be opened as a joint account with a parent or guardian. It offers many of the same features as our regular checking account, but it offers greater peace of mind for parents or guardians through a variety of controls. Parental Controls – The parent or guardian will be listed as a Joint Owner with complete access to the Teen Checking Account. Spending Controls – For safe debit card use, there are cash withdrawal limits at ATMs of up to $100 per day, and spending limits for either signature-based or PIN purchases of up to $300 per day. Find out more.