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Alliant Bank

Alliant Bank Reviews

6.1

Business and Personal Banking

Written by Lauren Le-Hair

About Alliant Bank | Read More

6.1

LS Score

6.2

Credibility

5.9

Support

6.0

Accessibility

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Opening Hours

Mon-Sun 24/7

Contact Information

CSRconnect@alliantbank.com
(800) 976-7450
Headquarters: 101 East Broadway, Madison, MO 65263

Social Media

6.1

LS Score

6.2

Credibility

5.9

Support

6.0

Accessibility

Visit site

Opening Hours

Mon-Sun 24/7

Contact Information

CSRconnect@alliantbank.com
(800) 976-7450
Headquarters: 101 East Broadway, Madison, MO 65263

Social Media

Alliant Bank Online Banking Review

Alliant Bank offers a complete range of banking products for its customers. These include checking accounts, savings accounts, and CDs. Furthermore, Alliant Bank has teamed up with Kasasa to provide competitive checking accounts with reasonable interest rates and cash back. Kasasa is a reputable financial technology company that offers reward checking accounts and expert consulting services to community financial institutions.

Alliant Bank also offers mortgages, personal loans, and investment facilities. You can access all of these functions through Alliant Bank’s online banking portal.

Alliant Bank Online Banking Highlight

$100

Min Balance

$100

Min Deposit

Over 50,000 ATMs

ATM Network

None

Other Fees

Online Banking Savings

$100

Min Deposit

$100

Min Balance

0.75-3.10%

Min APY Savings

Online Banking Checking

$50

Min Deposit

$100

Min Balance

Min 0.25%

Min APY Checking

Pros & Cons

Offers exceptional APY savings rate
A reputable brand with $13 billion in assets
Relatively lower fees

Requires a minimum of $1,000 to start
Relatively high overdraft fees
Offers limited flexibility in terms of certificates

Account types

Checking
Savings
Certificates of Deposit (CD)

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Features Benefits & Rewards

Domestic ATM fee reimbursement

Account Types

Alliant Bank has paired with Kasasa, the award-winning financial technology company, to offer competitive checking accounts to its customers. To qualify for a Kasasa account, you must have:

At least 1 direct deposit or ACH payment transaction post and settle
12 debit card purchases post and settle
Be enrolled for online banking.

Free Kasasa Cash Checking

Alongside giving its users free access to debit cards, online banking, and mobile banking, the Free Kasasa Cash Checking account offers excellent APYs. Balances up to $15,000 earn 2.5% APT, with balances over $15,000 earning 0.25%. If the Kasasa requirements are not met, the whole balance will earn interest at 0.05%.

Free Kasasa Cash Back

Many people like to earn through cash back instead of earning interest. Kasasa Cash Back Checking account offers 4% cash back on up to $200 a monthly spending on debit card purchases. Therefore, this equates to a maximum of $96 a year cash back. The Cash Back account also benefits from up to $25 monthly refunds on ATM withdrawal fees and online and mobile banking access.

Free Kasasa Saver

The Kasasa Saver account was created to be used in line with the Checking or Cash Back account to help save and still earn a good APY. Kasasa Saver accounts offer qualifying customers an APY of 0.75% on balances up to $25,000 and 0.25% on balances over $25,000. As with all Kasasa accounts, you need a minimum deposit of $50 to open this account.

Free Kasasa Tunes Checking

Kasasa Tunes Checking is an ideal account for regular iTunes, Amazon, or Google Play users. This account gives customers a $20 refund for iTunes, Amazon, or Google Play purchases when they open an account. Further, qualifying customers can earn $10 in refunds every month for iTunes, Amazon, or Google Play.

Green Accounts

A Green Checking account is perfect for people that want a simple, environmentally conscious checking account. There is no minimum balance requirement, and customers receive a free debit card and unlimited check-writing ability. eStatements are the standard with Green Accounts, so it will cost you $3 a month to receive paper statements.

Health Savings Account

A Health Savings account is specifically designed for the use of paying or reimbursing medical expenses incurred by you or your family.

Triple Advantage Money Market Account

The Triple Advantage Money Market Account gives customers the option of full access to their funds while still earning a good APY. To open this account, you’ll need to deposit and maintain a balance of at least $1,000. Interest is earned on a tiered basis for select customers. Contact Alliant Bank for full details about the terms and conditions of the Triple Advantage Money Market Account.

Savings Accounts

Note that Alliant Bank does not list its interest rates on its website, so we could not establish what APYs are available for Alliant Bank savings products. Alliant Bank offers the following savings accounts:

Regular Savings

A $100 deposit is needed to open a Regular Savings account with Alliant Bank. To avoid a $3 monthly maintenance fee, you need to maintain a balance of $100 or more. Balances less than $100 will not earn interest. You can also make six withdrawals per month from this account with no extra charge.

Youth Savings

The Youth Savings account is designed to teach responsible money management to children under 18. This joint account earns interest on balances greater than $50. Plus, there is no minimum balance required. You can make six withdrawals a month from this account.

Club Savings

Specifically designed to save for Christmas or vacation, these savings accounts start 12 months before the target event and offer a stress-free way to save for the big day.

Certificate of Deposit (CD)

Alliant Bank offers CD products for those looking to earn a specific interest rate for a fixed period. As with most CD products, there is an early withdrawal penalty if you access your CD before the fixed period is complete.

Account Name	Key Features
Kasasa Cash Checking	Free account with no hidden charges Excellent APY of up to 2.50% 24/7 telephone banking
Kasasa Cash Back Checking	$8 cashback available each month Only a $50 deposit to open $25 monthly refunds on ATM fees
Kasasa Saver	0.75% APY available on balances to $25k 0.25% APT on balances over $25k A $50 minimum deposit is required to open
Kasasa Tunes Checking	Refunds for Amazon, iTunes, Google Play Total value of $140 in year one available Free to open, no hidden fees
Green Checking	Environmentally conscious product Unlimited check writing No minimum balance required
Health Savings Account	Specifically designed for medical purposes Customized to your healthcare needs Free accounts with no fees incurred
Triple Advantage Money Market Account	Minimum deposit of $1,000 Three-tiered premium interest rates Earn like a savings account but maintain access to your cash
Regular Savings	Minimum deposit of $100 to open Six free withdrawals per month Free quarterly statements
Youth Savings	Joint account aimed at under-18s A minimum balance of $10 to open Great for teaching children responsible money management
Club Savings	Offers the chance to save for Christmas or vacation Christmas Club starts in November and pays out the following October Vacation Club begins in June and pays out the following May
CDs	A wide range of CD terms are available Competitive APYs available Early withdrawal penalty payable

Opening an Account With Alliant Bank

We were impressed with Alliant Bank’s range of accounts while maintaining its local values, so we applied for a Kasasa Cash Checking Account and a Kasasa Saver Account. We selected the “Apply Now” button on the home screen to get started.

We were presented with a simple form to complete, split into three sections; Personal Information, Identity Verification, and Opening Deposit.

After entering our INFORMATION, including details of our address, email address, SSN, and phone number, we authorized Alliant Bank to authenticate this information. Once we’d verified our identity, we could select how we wished to fund our account. We could do so via a checking or savings account or by visiting one of Alliant Bank’s five branches. We selected to do this via a checking account.

We then completed the application. All that was left to do was simply upload our proof of identity and address and fund our new Kasasa Checking account. The process was straightforward and completed within 10 minutes.

State Availability

- Available in all states

Alliant Bank Certificate of Deposit Review

Alliant Credit Union is a top choice for eligible customers seeking a diverse selection of high-yield products while aiming to minimize fees. With multiple methods of eligibility, becoming a member is made simple and accessible. With competitive APYs and minimal fees, opening a CD account with Alliant Credit Union is an attractive route for its customers.

Alliant Bank Certificate of Deposit Highlight

5.15%

12-Month APY

4.20%

36-Month APY

4.00%

60-Month APY

$1K

Minimum Deposit

Minimum Balance

None

Monthly fee

Daily Compounded Interest

Yes

Early withdrawal penalty

Pros & Cons

Competitive rates, especially on long-term CDs
FDIC insured
CD laddering

$1,000 minimum deposit
Interest compounded monthly, not daily

Account types

3-Month APY 4.25%
6-Month APY 5.00%
12-Month APY 5.15%
18-Month APY 4.90%
24-Month APY 4.30%
36-Month APY 4.20%
48-Month APY 4.05%
60-Month APY 4.00%
Jumbo Share Certificate 5.45%

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Alliant Bank Certificate of Deposit Terms & Requirements

Minimum deposit: $1,000 for regular CDs and $75,000 for jumbo CDs.
Term lengths: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months.
APY: Varies by term and balance. As of August 14, 2023, APYs range from 4.41% for a 3-month regular CD to 4.31% for a 60-month jumbo CD.
Early withdrawal penalty: 90 days of interest if the CD is closed within the first 180 days. After 180 days, the penalty is 60 days of interest.
IRA CDs: Alliant also offers IRA CDs with similar terms and requirements to regular CDs. The minimum deposit for an IRA CD is $1,000.

To open an Alliant CD, you must be a member of the credit union. You can join Alliant by purchasing a $5 membership share.

Compounding: Alliant CDs compound interest daily. This means that your interest earnings are added to your account balance each day, and then you earn interest on the interest.
Rollover: You can rollover your Alliant CD to a new CD with a longer term without penalty. This is a good way to take advantage of higher interest rates if they are available.
Liquidity: Alliant CDs are not as liquid as savings accounts. You can only withdraw funds from a CD early if you pay the early withdrawal penalty.

How to Apply

Qualification Requirements

To qualify for opening a CD account at Alliant Credit Union, you typically need the following:

Become a member of Alliant Credit Union. You can join by purchasing a $5 membership share.
Meet the minimum deposit requirement. The minimum deposit for a regular CD is $1,000. The minimum deposit for a jumbo CD is $75,000.
Choose a term length. Alliant CDs have term lengths of 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months.
Accept the early withdrawal penalty. If you close your CD early, you will have to pay an early withdrawal penalty. The penalty is 90 days of interest if the CD is closed within the first 180 days. After 180 days, the penalty is 60 days of interest.

Live or work in a qualifying community. Alliant offers a special CD rate to members who live or work in a qualifying community near its headquarters in Chicago.
Become a member of Foster Care to Success (FC2S). Alliant offers a special CD rate to members who become a member of FC2S, a nonprofit organization that supports foster teens.

Early Withdrawal Penalty

An early withdrawal penalty applies under the following conditions:

Deposit Term	Amount of Interest
180 days or less	90 days of interest
180 days or more	60 days of interest

State Availability

- Available in all states

Written by Lauren Le-Hair

As an experienced content writer, Lauren's passion for the finance sector is only exceeded by her love of writing. With years of experience writing for financial websites, she has honed her expertise and developed a deep understanding of the industry. Lauren specializes in delivering top-quality, specialized content with an expert tone of voice and a unique flair, leveraging her extensive knowledge and expertise. In addition, she holds a First Class Bachelor's degree from Staffordshire University.

FAQ’s

Is Alliant Bank affiliated with Alliant Credit Union?

No, there is no relationship between the two companies. Alliant Bank is a full-service bank with physical branches in Missouri. Alliant Credit Union is an online-only credit union.

Do I need to be based in Missouri to bank with Alliant Bank?

No, you can open an account with Alliant Bank, even if you are located outside of Missouri.

Is Alliant Bank safe?

Yes, Alliant Bank is safe and is a fully registered FDIC member since 1934.

Customer Support

Alliant Bank has an excellent customer support team you can contact in various ways. We called the company’s 24/7 helpline and were able to speak to an advisor immediately who dealt with our questions in a friendly manner. You can also reach Alliant Bank’s customer support via email, social media or by visiting one of its five branches in Missouri.

Privacy & Security

Alliant Bank prominently features a statement on its website detailing the importance of privacy and security to both the company and its customers. The non-identifying information is collected for statistical purposes, which includes the date and time of website visits, IP address, web browser, and location. However, no identifying information is collected that is stored or sold to third parties. There are no adverse reports online regarding Alliant Bank’s privacy and security practices.

In Conclusion

Ultimately, Alliant Bank is an excellent option if you are looking for a full-service bank with a local presence. The importance of the local Missouri community clearly comes through in the company’s work. Plus, if you are based in or around Missouri, Alliant Bank is worth considering if you are looking for a new partner to meet your banking needs.

Brand Disclaimer

Qualification Information for Checking Account: Account transactions and activities may take one or more days to post and settle to the account, and all must do so during the Monthly Qualification Cycle to qualify for the account’s rewards.

The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our bank as ATM transactions, non-retail payment transactions, and purchases made with debit cards not issued by our bank.

“Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle.

Reward Information: When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, (1) daily balances up to and including $15,000.00 receive an APY of 2.50%. Daily balances over $15,000.00 earn an interest rate of 0.25% on the portion of the daily balance over $15,000.00, resulting in a range from 2.50% to 0.54% APY, depending on the account’s daily balance. (2) You will receive reimbursements up to $25 ($4.99 per single transaction) for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified.

An ATM receipt must be presented within sixty (60) calendar days of the transaction for reimbursements of individual ATM fees of $4.99 or higher. When your Kasasa Cash qualifications are not met, the interest rate earned on the account’s entire daily balance will be 0.050% resulting in an annual percentage yield of 0.05%. APY and ATM withdrawal fees are not refunded. Interest and ATM fee reimbursements will be credited to your Kasasa Cash account on the last day of the current statement cycle.