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Frequently Asked Questions

Employee 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!

What is Challenger?

Challenger is no-fee banking with a debit card and built-in budgeting and savings tools. Your employer pays the fees so you don't have to. Challenger helps you financially grow and keep your money safe.

How do I access my money?

Your debit card can be used anywhere Mastercard is accepted and cash can be withdrawn from any of the 55,000 free ATMs in our network. You can access your account 24/7 via the Challenger Banking mobile app.

Can my employer see my banking details?

Your account is FDIC insured by Lending Club Bank and your employer will never see your transaction data, balances, or any personal information. Challenger is your private and personal bank account and you keep it even if you leave your employer.

Am I required to sign up?

No you’re not required. But we think you should sign up to get access to all of Challenger’s benefits to potentially save over $300 each year in bank fees alone.

Who can I contact if I have questions?

Once you sign up for Challenger, you will be able to ask questions directly in the app. For now, feel free to email us at

Are there really no fees?

There really are no fees whatsoever to use Challenger! Your employer pays all the fees so you get no monthly fees, no minimum balance requirements, no overdraft fees, and free access to 55,000 ATMs throughout the world.

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.

How does Challenger help with Financial Wellness?

Your Challenger bank app makes it easy to take control of your finances. Challenger’s Saving Spaces let you easily create goals and set up auto-contributions to them. Challenger’s Savings Spaces allow you to put money aside for a rainy day, save for future milestones, and track your savings over time.

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. 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.