Jenius Bank
Written by Ali Cybulski | Published on 10/11/2024
Jenius Bank is a member of the SMBC Group and the digital banking division of SMBC MANUBANK, which is insured by the Federal Deposit Insurance Corp. (FDIC). It doesn't have traditional bank branches, but you can access your accounts through Jenius Bank’s mobile app or website, ask questions via online chat, or reach 24/7 live support at 844-453-6487.
Jenius offers a limited selection of products — only savings accounts and personal loans to adult U.S. residents. The bank does not accept savings account applications from Hawaii and New Mexico residents, and it doesn’t have savings accounts for businesses, trusts or organizations.
Jenius Bank’s high-yield savings account earns an annual percentage yield (APY) of 4.20%, with no minimum balance requirements or fees. There are no monthly maintenance fees, account opening fees or transaction fees.
ATMs and debit cards are not available for withdrawals and deposits. To schedule these transactions as transfers to or from another bank account, you’ll need to sign into your account at jeniusbank.com or the Jenius Bank mobile app.
Jenius Bank pros and cons
Pros:
• Generous earnings on savings account
• No monthly fees
• No minimum balance requirements
Cons:
• Limited products
• No ATMs or debit cards
• No branches
5 Business Days Hold
Jenius savings, as per phone
1) 5 business days hold on all incoming - regardless - pull or push
2) up to 4 external accounts
3) transfer limits 50k out / 250K in
4) no plans to offer checking or certificates, at this time
5) 24/7 phone support
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Note: Janius Deposit Account Agreement
Initiated Through Another Bank
Funds will generally be available on the next Business Day after the day the ACH transfer is
received by us but may be available earlier, depending on the type of ACH transfer.
Initiated Through Us from a Linked External Account
Funds will generally be available on the fifth Business Day after the day the ACH Transfer posts
to your Account.
Beyond Awesome
A Simple savings account with a good rate. I go to a full service branch bank for my main checking account and link to a bank with a high rate saving account. This bank seems to have a successful loan product, which means they will likely stay top of market with their savings rate to fund that portfolio.
Reasonable transfer limits with 24/7 call center. That is all I need out of a savings bank. Rate, Service, Easy Money Movement. They dont have their mobile app yet, but for those that know to save the url as a widget on their phone, it looks and works just like an app.
Big Rate Cut
From 5.25% to 5.05%.
The best high yield accounts wait for the FED rate cut before cutting.
And the best high yield accounts don't make such a big cut all at once.
To their credit -- they emailed all customers notifying them of the rate cut. Many banks say nothing -- letting you find out on your own sometimes many months later.
I'm still in 'wait and see' mode with Jenius.
We shall see.
Frustrating - I Would Avoid
I opened an account less than three weeks ago. I don't log in regularly, but I wanted to see something this week. After three unsuccessful attempts, I was locked out. No biggie, I must have forgotten my password, so I had the account unlocked and pw reset. Try to log in with new pw, no luck. I know I used the correct one, I had JUST updated it. Run through another lock out, and reset, and the third time I cannot get in.
I spent two calls with customer service, who were pleasant, but ultimately unhelpful. I am moving my money out of this bank as soon as I can login (which I'm told, is a problem they have been having for at least a couple days). An online-only bank needs to have damn near close to 100% uptime, if not 100%. Never had this problem at other banks. Beware!
Data as of Q1 2025
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18618 |
| Year Established | 1962 |
| Employees | 941 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -2.33% |
| Return on Equity - YTD | -14.58% |
| Annual Interest Income | $100.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $6.66B$5.11B |
| Loans | Q1 2025vs Q1 2024 | $4.02B$3.27B |
| Deposits | Q1 2025vs Q1 2024 | $5.42B$4.04B |
| Equity Capital | Q1 2025vs Q1 2024 | $1.02B$790.6MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $212.5MM$112.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $66MM$50.2MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |