There’s a new high-yield checking account worth adding to your radar. Alliant Credit Union recently launched its Jumbo High-Rate Checking Account, which pays up to 2.00% APY on your everyday cash with no cap on earnings and zero monthly fees.
If you’re already an Alliant member, or have been thinking about joining, the account offers a way to earn competitive rates on both your checking and savings without spreading your money across multiple institutions. Every jumbo checking account is automatically paired with an Alliant High-Rate Savings Account, giving you both in one place.
That said, qualifying for the top 2.00% APY requires direct deposits and maintaining a sizable balance. Here’s what to know before you apply.
Alliant Credit Union Jumbo High-Rate Checking
Rates, fees and features
Alliant Credit Union’s Jumbo High-Rate Checking Account rewards you for keeping more money in the bank.
Unlike the credit union’s existing High-Rate Checking Account, which earns a flat 0.25% APY, this new jumbo account uses a tiered structure that can pay out up to 2.00% APY with no cap on earnings for members who increase their direct deposit activity and maintain a qualifying balance. For a closer look at the rates, fees and features that come with the account, see below.
Alliant Credit Union Jumbo High-Rate Checking Account
Alliant Credit Union is a Member NCUA.
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Annual Percentage Yield (APY)
Up to 2.00% APY on balances with $5,000+ in monthly direct deposits and a $10,000 average daily balance; 1.00% APY with $2,500 to $4,999 in monthly direct deposits; 0.25% APY with $1,000 to $2,499 in monthly direct deposits; no dividend if requirements aren’t met
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Minimum deposit to open
$25 (online); no minimum if opened via paper application or in online banking
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Minimum balance
None required to maintain the account, though a $10,000 average daily balance is needed for the top APY tier
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Monthly fee
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Free ATM network
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ATM fee reimbursement
Unlimited reimbursement for top tier; up to $20 per month for other tiers
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Overdraft fee
None; optional overdraft protection available
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Mobile check deposit
Pros
- High APY for a checking account, with no cap on earnings
- No monthly fees
- No minimum balance required to maintain the account
- No overdraft fees
- Fee-free ATM network with over 80,000 ATMs
- Unlimited ATM fee reimbursement at the top tier
- Get paid up to two days early with Early Payday
- Zero liability on fraudulent Visa transactions
Cons
- Requirements to earn the highest APY (direct deposit and balance minimums)
- Lower tiers earn a much smaller APY than the top rate
- Credit union membership required
- ATM fee reimbursement is capped at $20/month outside the top tier
Rates
The Jumbo High-Rate Checking uses a three-tier rate structure based on direct deposit activity and balance:
- $5,000+ in monthly direct deposits, $10,000 average daily balance, eStatements enrolled: 2.00% APY
- $2,500 to $4,999 in monthly direct deposits, eStatements enrolled: 1.00% APY
- $1,000 to $2,499 in monthly direct deposits, eStatements enrolled: 0.25% APY
Fees
- No monthly maintenance or service fees
- No overdraft fees
- No fee for non-sufficient funds (NSF) items
- Free ATM transactions
- Free first box of checks (within 12 months of opening)
- Free stop payments
- $25 minimum opening deposit (for accounts opened online or over the phone)
Features
- Access to 80,000 fee-free ATMs
- Unlimited ATM fee rebates for accountholders in the top tier; up to $20/month in rebates for lower tiers
- Early Payday, which can make direct deposits available up to two days early
- Zero liability on fraudulent Visa transactions
- Mobile wallet integration with Apple Pay, Google Pay, Samsung Pay, Venmo, PayPal and Cash App
- Mobile check deposit
- New Visa contactless debit card with tap-to-pay technology
Alternative high APY checking accounts
If you’re not an Alliant member, or you simply want to compare your options before opening an account, there are a few other high-yield checking accounts worth considering.
The Consumers Credit Union Rewards Checking offers up to 5.00% APY on balances up to $10,000. To earn the highest APY, you must meet the below requirements:
- Join the Consumers Cooperative Association (a $5 fee that’s reimbursed)
- Enroll in eStatements
- Make at least 12 debit card purchases each month
- Set up at least $500 monthly in total direct deposits or ACH credits
- Put $1,000 or more on a Consumers Credit Union Visa credit card each month
Consumers Credit Union Rewards Checking
Consumers Credit Union is federally insured by NCUA.
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Annual Percentage Yield (APY)
Up to 5.00% APY on balances up to $10,000 (0.20% APY on up to $25,000 and 0.10% APY thereafter); 0.01% APY if don’t meet requirements
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Minimum deposit to open
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Minimum balance
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Monthly fee
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Free ATM network
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ATM fee reimbursement
Unlimited reimbursement for any and all ATM fees
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Overdraft fee
Fees may apply; overdraft protection is available
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Mobile check deposit
Pros
- High APY for a checking account
- Low minimum deposit required
- No minimum balance
- No monthly fees
- Fee-free ATM network
- Offers ATM fee reimbursement
- Overdraft protection available
- Get paid as much as two days early with early direct deposit
Cons
- Requirements to earn high APY
- Overdraft fee possible
- Credit union membership required
If you don’t want to go the credit union route, All America Bank offers an Ultimate Rewards Checking where you can earn up to 3.95% APY on balances up to $15,000. To earn the high APY, account holders must make 10 debit card purchases each month and enroll in eStatements. There’s no minimum balance requirement and zero monthly fees; there is, however, a minimum deposit requirement of $50 when opening in person and $500 when opening online.
All America Bank® Ultimate Rewards Checking
All America Bank® is a Member FDIC.
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Annual Percentage Yield (APY)
Up to 3.95% APY on up to $15,000 (0.50% APY thereafter); 0.25% APY if don’t meet requirements
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Minimum deposit to open
$50 if in person; $500 if online
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Minimum balance
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Monthly fee
None (unless you receive paper statements, then $3 per month)
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Free ATM network
Yes, 1,000s of ATMs worldwide
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ATM fee reimbursement
Up to $25 of foreign ATM fees each monthly statement cycle in one lump sum
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Overdraft fee
Fees may apply; Overdraft Privilege is available
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Mobile check deposit
Pros
- High APY for a checking account
- Low minimum deposit required if open account in person
- No minimum balance
- No monthly fees for non-paper statements
- Fee-free ATM network
- Offers ATM fee reimbursement
- Overdraft protection available
Cons
- Requirements to earn high APY
- $500 minimum deposit if open account online
- Monthly fee for paper statements
- Overdraft fee possible
Another option, with a sweet welcome bonus, is the SoFi Checking and Savings. New account holders can earn $50 with an eligible direct deposit of $1,000 to $4,999.99, or earn $400 with an eligible deposit of $5,000 or more.
For a limited time, you can earn up to 3.80% APY: receive a 0.70% boost (for six months) on SoFi’s 3.10% savings APY when you set up a new account with eligible direct deposit. Also, there are no account, overdraft or monthly fees. SoFi offers up to $3 million in additional FDIC insurance through its participating banks.
- Earn a cash welcome bonus just for setting up direct deposit, giving you a head start on your savings goals.
- Unlock a competitive APY on your savings with direct deposit, so your money works harder without any extra effort.
- No minimum balance or monthly fees means you keep more of what you earn, regardless of your account balance.
- Get your paycheck deposited up to 2 days early with direct deposit, so you’re never waiting on funds you’ve already earned.
- Roundups automatically save your spare change with every purchase, and Vaults let you organize savings toward specific goals.
- Comes with a checking account, ATM access and no foreign transaction fees
- FDIC insured up to $3 million through the SoFi Insured Deposit Program,* offering far more protection than the standard $250,000 limit.
- Savings APY drops significantly without direct deposit, so you’ll earn less if you don’t use it as your primary bank.
- Out-of-network ATM fees aren’t reimbursed, which could add up if you frequently use cash.
- No physical branches, so customer support is entirely online or by phone.
Explore checking and savings options built to help your money go further.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Sign-up bonus of $50 or $400
No account, service or maintenance fees for SoFi Checking and Savings.
*Click here for important disclaimers and disclosures.
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* New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/ *SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn up to 3.10% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.10% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. *SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks. *Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC *Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
