Alliant Credit Union VS BankDirect

Which bank is better for you?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 4.5 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • No monthly maintenance fees
  • ATM fee reimbursement
  • Low opening required amounts
  • Variety of personal deposit accounts

Cons:

  • Must qualify to become a member
  • No business accounts offered
  • To earn interest requires qualifications
  • Jumbo CD rates similar to regular CDs
  • Financial Rates: 3.5 Star Icon
  • Customer Service: 2.5 Star Icon
  • Website Experience: 3.0 Star Icon
  • Bank Fees: 4.5 Star Icon
No Rate Information
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Low required opening amounts
  • Reimbursement of ATM fees
  • Variety of personal deposit accounts
  • Money market account earns good rates

Cons:

  • Highest MMA rate requires large amount
  • High required amount to open CDs
  • Checking accounts have a monthly fee
  • Must mail in application to open account
Alliant Credit Union Review

Accounts offered through Alliant do not have monthly maintenance fees. The only fee is if you receive paper statements. To keep the account open requires a $5 balance. To earn interest does require $100 in all the savings accounts.

Alliant participates with over 80,000 ATMs free of charge. If you withdraw money from an ATM not in their network, Alliant will reimburse those fees. They reimburse up to $20 per month in ATM fees. Deposits, withdrawals, transfers, and checking account balances qualify for a rebate. The high rate checking, and teen checking account qualify for ATM reimbursement.

The amounts required to open Alliant accounts is low. The savings accounts require $5 to open. The checking accounts do not list a set amount to open. All the regular CD terms require $1,000 to open. Alliant does offer jumbo CDs, but they require $25,000 to open.

Alliant offers a good variety of personal accounts. They offer a free, high-rate, and teen checking account. They offer two savings accounts and a savings account for kids. Personal credit cards, lending options, and insurance options are also available.

To open Alliant accounts, you must become a member of their credit union. You must meet qualifications to become a member. Those requirements include working with specific companies or be related to someone who is a member of Alliant. If you do not meet those requirements, you may be able to qualify through Support Foster Care to Success. Find out if you are eligible on the Alliant website.

Alliant does not offer specific business accounts. Only personal deposit accounts are available. Those accounts include savings accounts, checking accounts, and CDs. Personal credit cards, lending options, and insurance are also offered.

The interest rates on Alliant accounts are not tiered. To earn the most competitive interest rate, you must meet specific qualifications. Those include receiving eStatements and having at least one monthly electronic deposit. Direct deposits help you qualify.

The Alliant jumbo CDs interest rates are only slightly higher than the regular CD rates. The jumbo CDs require $25,000 to open, but do not offer much higher rates than the regular CD rates. The regular CDs require $1,000 to open. Alliant offers six regular and six jumbo CDs.

Read the full Alliant Credit Union review.

BankDirect Review

Most of the BankDirect accounts have a low amount required to open the account. BankDirect checking accounts only require $500 to open. Both BankDirect money market accounts require $500 to open. The basic savings account only requires $100 to open.

BankDirect does not own any ATMs; they reimburse their customers the ATM fees. The first four ATM withdrawals per statement cycle are refunded. The refunds are up to $2.50 per transaction. There is a withdrawal limit of $500 from an ATM each day.

BankDirect offers a variety of personal deposit accounts. There are three different checking accounts and two different money market accounts. There are a variety of different CD terms available. BankDirect offers one savings account. There are no business accounts available.

The BankDirect Money Market Plus account offers a competitive interest rate. BankDirect also offers a mileage money market account. This account earns American Airline miles. Both MMA require $500 to open. The mileage money market account earns much lower interest rates. You earn miles instead of interest. There is no monthly fee for either account.

To earn the high rates offered on the BankDirect Money Market Plus account you must have $10,000 in the account. Amounts under $10,000 do not earn any interest. Only $500 is required to open this account, but to earn any interest requires $10,000.

BankDirect offers a variety of different CD terms. The required amount to open any of the CDs is $10,000. There is no monthly fee. The interest rates for CDs are competitive. The 12-month, 18-months, 24-months and 36-month CDs offer the most competitive rates. To open a mileage CD also requires $10,000.

Two of the BankDirect checking accounts have monthly fees. The interest and mileage checking accounts both have a monthly fee. The fee is waived for the interest checking account if you have at least $2,500 in the account. The mileage checking does not list a way to waive that monthly fee.

Opening an account with BankDirect is not entirely online. To open an account, you must fill out the application online, then print off part and mail it in. You will then receive a welcome kit within one to two weeks. Once you get your kit, you can finish setting up your account.

Read the full BankDirect review.

Sponsored Offers

Advertiser Disclosure
Capital One
Savings (Rate as of 3/27/2023)
APY 3.40%
Rate 3.40%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC It only takes about 5 minutes to open a fee-free account.
Next >
Bask Bank
Savings (Rate as of 3/27/2023)
APY 4.45%
Rate 4.35%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC 0 Monthly Acct Fees. No Balance Cap to Earn APY.
Next >
LendingClub
Savings (Rate as of 3/27/2023)
APY 4.25%
Rate 4.25%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Plus, no monthly fees and unlimited free external transfers
Next >
Synchrony Bank
Savings (Rate as of 3/27/2023)
APY 4.00%
Rate 4.00%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Savings Products with Competitive Rates and No Minimum Deposit
Next >
CIT Bank
Savings (Rate as of 3/27/2023)
APY 4.40%
Rate 4.31%
For APY $5,000
Monthly Fee $0.00
Checkbook No
Member FDIC No Monthly Fees. $5,000 balance required for highest rate.
Next >
My Banking Direct, a service of NY Community Bank
Savings (Rate as of 3/27/2023)
APY 4.38%
Rate 4.29%
For APY $500
Monthly Fee $0.00
Checkbook No
Member FDIC Only $500.00 to open. No monthly or maintenance fees.
Next >
Citizens Access
Savings (Rate as of 3/27/2023)
APY 4.25%
Rate 4.25%
For APY $1
Monthly Fee $0.00
Checkbook No
Member FDIC No fee online savings account with a great rate.
Next >
Affinity Federal Credit Union
Savings (Rate as of 3/27/2023)
APY 4.00%
Rate 3.92%
For APY $0
Monthly Fee $0.00
Checkbook No
Insured by NCUA Earn 4.00% APY on the first $10,000 (that's $400 a year!)
Next >
Ally Bank
MMA (Rate as of 3/27/2023)
APY 4.00%
Rate 3.92%
For APY $0
Monthly Fee $0.00
Checkbook Yes
Member FDIC Save smarter 4.00% APY Money Market Account Ally Bank Member FDIC
Next >
Sallie Mae
Savings (Rate as of 3/27/2023)
APY 3.95%
Rate 3.87%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC No minimum balance and no monthly maintenance fees
Next >
Juniper Bank/AirTran
Savings (Rate as of 3/27/2023)
APY 3.60%
Rate 3.60%
For APY $0
Monthly Fee $0.00
Checkbook No
Member FDIC Savings accounts at 3.60% APY. A rate greater than 5x the national average.
Next >
Alliant Credit Union
Savings (Rate as of 3/27/2023)
APY 3.10%
Rate 3.06%
For APY $25
Monthly Fee $0.00
Checkbook No
Insured by NCUA No monthly fee if you elect eStatements.
Next >