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"Your Checking Account Is Now Earning 5% Yearly Bonus"
Received email today saying for earn $500 if you have $10K account balance at end of year and for 1st $10K earn 5% and 3% over $10K up to $250K. Not the clearest info and nothing on their website on it
JUST STAY AWAY - YOU WILL PROTECT YOUR MONEY!!!
They unnecessarily hold your money and won't provide any response to the emails. Just say that, their customer support is
Already I had many problems
a) Many banks don't even recognize them in Plaid or doesn't want that bank to be added as external accounts. So, I can't take or send to this bank
b) They have a very annoying feature of name match, for a single character mismatch in my last name, they rejected the credit and I even end up paying ACH return fee, because of their poor practice. As someone pointed out they are very very amateur. Many very old banks, doesn't have this crazy annoying security feature, but they do, because they are very very immature and doesn't know the security well.
c) Their support is useless, they won't respond to your questions but only say we got huge volume of queries. If you want to scale the customers then scale the customer support also. Don't just annoy customers. They just say, you will get response in minutes. What they really mean is minutes = "many weeks or months". But, if they want something from you, there will no huge volume of queries, they will ask that the moment. That's how great their customer service is.
d) Their app, many functionalities on their app, doesn't even work and I have even pointed out several things and they also call me and try to convince to remove the comments on the app store. They even removed my old comments. I have no idea how Apple app store allow that. Many a times, I pointed out many things that doesn't work on their app.
e) Forcing to join the Crypto account. As someone else pointed out, they forcibly ask us to sign in into the crypto account.
f) Now, they just say they are doing some review on my account and doesn't allow me to withdraw but they allow credit. Now I am stuck on taking my funds out.
Such a pathetic and annoying and very very amateur banking experience from this wrapper bank. They don't even have their own banking and they provide from some other bank called Evolve bank.
Better stay away and don't get yourself get stuck on the interest rate, that they are giving. Nowadays many good banks are giving very good rates. Customer experience is very very important from these internet based banks and also the safety of my money.
I am doubting seriously the safety of money there. You can check on the complaints on BBB against them. They are very very immature and don't know the rules very well and cause a lot of nuisance and panics and annoyance to customers. As many of my experience match with many who had bad experience and with the recent bank collapse in silicon valley and also they don't have any core banking (just a wrapper bank), it is very serious to think and get out them.
I have emailed to the concerned team and I have even followed up twice and even after more than a week there is not even a single response. If this is how you guys do business, just give back my money, I will happily leave your platform. I am now more concerned about the SAFETY of my money. As the season is about the bank getting dissolved and that too, you guys are just wrapper banks and the core banking is provided by some other bank. I just wanted to get out and don't want to do business with this FRAUDULENT AMATEUR BANK.
Onjuno Stole $10,000 In Crypto From Me
I woke up on March 30th, 2022 to find a poorly formatted email from OnJuno in my inbox, stating that my account had been placed on hold pending manual review. The email said I would have to provide copies of bank statements of my linked external account -- except that I did not have any external account linked to my OnJuno account. At the time I had about $7,000 in cash and about $11,000 in crypto with them. I tried to contact them multiple times about the hold, over the phone and over email, I got very little response over the phone and virtually no response over email until April 8th. On that day, after at least 10 emails that had gone unanswered, someone named Pooja from the OnJuno support team reached out to me and made me feel as if someone was finally going to shed some light on why my account was placed on hold. She asks me to provide some verifying information about a debit card transaction I had made using the OnJuno card to pay my AT&T bill, which was subsequently refunded back to the card because I didn't realize the bill was already auto-paid. The refund was processed literally seconds after the charge. I couldn't believe this was the reason for my account being restricted, but I was relieved that's all it was. If only that were true. After I verified that transaction, she told me she had submitted it to her verification team and that I should expect to have my access restored by the following Monday. Monday comes, no updates. Then Tuesday. Wednesday. Thursday. It wasn't until, once again, multiple unanswered emails were sent over the week that Pooja finally responded to me again on the following Friday, telling me that my account was still under "manual review" and she had no estimation as to how long this process would take. I was infuriated, to the point I hunted down the co-founder of OnJuno on Twitter, @sidsverma. He was responsive and helpful, at first. It took about 2 weeks for him to get someone at OnJuno to reach out to me again, by this time it was already May. This next person who reached out to me asked me to verify some information about a wire transfer that I had made to my OnJuno account; I supplied that info and this person accepted it. Then, just as it was with Pooja, they tell me they submitted the info and now we're back on indefinite hold for someone to "manually review" my account. At this point I was absolutely livid and I reached out to the cofounder again and said that they had been holding my funds for nearly 2 months at this point. He did not respond to my most recent attempts at reaching him however they did wire back my cash deposits to the account I had originally wired money from. They have not, however, as of May 23rd, 2022, given me access to or transferred my crypto assets that are worth nearly $11,000. Nobody is answering me anymore, on any medium. They are literally trying to steal my crypto because they figure they can get away with it. I want to submit this review as a cautionary tale -- this company has the worst customer service and awful way of following any sense of banking practice, let alone regulation, and you should never trust them with your funds -- whether its fiat or crypto.
Rate Is Good But That's It And For How Long
OnJuno currently offers 2.15% APY on up to $30,000. You have to decide if dealing with them is worth $645/year.
They only link through Plaid so if your bank ain't there, you're SOL.
There is an ACH limit of $10,000/day. I can confirm they block deposits initiated from external banks and then you have to re-link the account or work with the other bank because they process the rejection in correctly.
Their customer service is fast and chat based which is good because you'll be utilizing it all the time.
If I hadn't started down this road, I would not now.
Data as of Q2 2022
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1299 |
| Year Established | 1925 |
| Employees | 515 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.39% |
| Return on Equity - YTD | 17.18% |
| Annual Interest Income | $14.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.30B$711.7MM |
| Loans | Q2 2022vs Q2 2021 | $614.7MM$523.5MM |
| Deposits | Q2 2022vs Q2 2021 | $1.12B$508.5MM |
| Equity Capital | Q2 2022vs Q2 2021 | $87.8MM$62.1MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $8.4MM$7.2MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $7.0MM$3.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$660.00K |