Jenius Bank

Deposits held and insured by SMBC MANUBANK

Overview / Commentary
844-453-6487
515 South Figueroa Street, Plaza Level
Los Angeles, CA 90071
Deposits held and insured by SMBC MANUBANK

Jenius Bank is a member of the SMBC Group and the Digital Banking Division of SMBC MANUBANK, Member FDIC. Jenius has a start-up mindset paired with SMBC Group's 400 years of history so they will grow with their customers long-term.

5 Business Days Hold

Posted by: |

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.

It Has Potential

Posted by: |

Jenius has a bare-bones website that feels old and clunky. The sign-up process felt a bit clunky too.

Jenius is SLOW with money in and out.

Jenius does not have a Visa Debit or ATM card.

But... it has a great rate.

If their advertising is to be believed, they will continue to have a good rate.

They are new and they may smooth out over time. This could be a good one.

And Jenius --- Get a Visa Debit or some sort of ATM card!

We shall see.

Frustrating - I Would Avoid

Posted by: |

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!

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Health
B

Data as of Q1 2024

Data displayed below is for insuring bank: SMBC MANUBANK
Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Jenius Bank has a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #18618
Year Established1962
Employees793
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-3.07%
Return on Equity - YTD-18.94%
Annual Interest Income$87.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$5.11B$5.03B
LoansQ1 2024vs Q1 2023$3.27B$2.92B
DepositsQ1 2024vs Q1 2023$4.04B$3.96B
Equity CapitalQ1 2024vs Q1 2023$790.6MM$795.6MM
Loan Loss AllowanceQ1 2024vs Q1 2023$112.4MM$52.9MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$50.2MM$962K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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Jenius Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.25%$0-Jenius Savings Account
Locations

Jenius Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 515 South Figueroa Street, Plaza Level - Los Angeles, CA 90071

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