Jenius Bank Review 2024
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At a glance
Savings
About Bankrate Score
Overview
Jenius Bank is a new, online-only bank that opened in 2023. It offers just one savings account. It’s best for customers who are comfortable solely banking online, as the bank doesn’t have branches or ATM access.
Highlights
- High APY
- No Min Balance
- No Monthly Fees
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Jenius Bank offers a high-yield savings account with a highly competitive APY — and you don’t need to jump through hoops to get that yield. Without a minimum balance requirement, you earn that high yield with any amount of money in the account. The account is available to just about anyone in the U.S., save residents of New Mexico and Hawaii, as Jenius currently isn’t accepting applications from residents of those states.
Pros
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Jenius Bank’s high-yield savings account offers a top-notch APY.
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You get fee-free banking at Jenius Bank, including no withdrawal or excessive transaction fees.
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There isn’t a minimum balance requirement to earn interest.
Cons
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Jenius Bank offers just one savings account.
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ATM access isn’t available.
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Residents of Hawaii and New Mexico can’t open an account.
Jenius Bank banking products
APY last updated between 11/14 and 11/20.
Jenius Bank savings overview
Just about anyone can open an application online, though Jenius Bank currently isn’t accepting applications from residents of Hawaii and New Mexico.
Pros
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The savings account yield is top-notch.
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Jenius Bank doesn’t charge fees, including monthly or excessive transaction fees.
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Joint savings accounts are available.
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There isn’t a minimum balance requirement.
Cons
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Residents of Hawaii and New Mexico can’t open an account.
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Customers don’t have ATM access.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Jenius BankAPYAPY last updated between 11/14 and 11/20.APYAPY last updated between 11/14 and 11/20.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | None |
| Non-sufficient funds fee | None |
| Account maintenance fees | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | None |
Customer experience
24/7 support is available. Customers can call customer support 24/7, and they can also submit questions through an online form.
No mobile app. Jenius Bank doesn’t have a mobile app available for either iOS or Android, but the bank plans to launch those apps in the near future. For now, customers must do all their banking on the Jenius website.
About Jenius Bank
Jenius Bank, which opened in 2023, is an online-only bank and is the digital banking division of SMBC MANUBANK (Manufacturers Bank), which was established and has been FDIC-insured since 1962. Jenius doesn’t have any branches and offers just one deposit account.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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