Frequently Asked Questions

Employee Banking FAQs

Here are some answers to common question employees ask us about the Challenger bank account offering. If you have other questions, contact us, we are happy to help!

Are there really no fees charged by Challenger?

There really are no fees when you sign up through your employer! We don’t charge you monthly fees, no monthly minimums, and no overdraft fees. In addition, you get access to 55,000 free ATMs around the world.

Does Challenger rebate ATM fees?

Challenger gives you access to 55,000 free ATMs throughout the world. If you use an out-of-network ATM you may get charged a fee by the owner of the ATM.

Can I open multiple accounts with Challenger?

We currently do not allow multiple accounts from the same person.

Does Challenger offer a savings account?

Although we don’t offer a savings account, we offer ‘Saving Spaces’ within your checking account to help you save towards goals.

Can anyone sign up for a Challenger account?

Yes! As long as they are 18 years or older, have a social security number, have a street address in the US and are not on any government watchlists they can sign up for a Challenger account. 

Can I open a joint account with Challenger?

Currently we do not offer joint accounts.

Does Challenger run a credit check when signing up?

Challenger does not run a credit check on new customers.

Can my employer see my bank account activity?

No, we respect your privacy. Your employer cannot see any transaction data or balance information from your account.

Employer Program FAQs

Here are some answers to common question we are asked about the Challenger Financial Wellness Program. Contact us with any other questions, we are happy to help!

If an employee leaves, can they still keep the Challenger bank account or do they have to get a new bank account?

They can keep their Challenger account. They may lose access to specific Financial Wellness features. Also the employee will no longer show up in the employer dashboard.  The employer will no longer be charged for that employees access to Challenger.

Is Challenger a bank?

Challenger is not a bank. We partner with banks to offer awesome banking services to employees.

If my employees sign up for a bank account, does that mean our company is now a bank?

No. There are no additional regulatory requirements for an employer offering their employees bank accounts through Challenger.

Can I see my employee's bank account activity?

No, we respect employee privacy. You cannot see any transaction data or balance information for your employees.