Question 1

What is Jenius Bank?

Accepted Answer

Jenius Bank is a new digital banking business that is a division of SMBC MANUBANK and a member of the SMBC Group – not a fly-by-night neobank. We’re building our products and services based on customer feedback, including a next generation mobile app that provides personalized spending insights to help you make smarter money decisions.

Question 2

What products does Jenius Bank offer?

Accepted Answer

Jenius Bank currently offers personal loans and savings accounts, with great rates and no fees! While we’re actively servicing customers today, the team is working to build additional financial products and tools. Any ideas or suggestions on which product we should launch next? Let us know!

Question 3

How is Jenius Bank associated with SMBC?

Accepted Answer

Jenius Bank is proud to be the digital banking division of SMBC MANUBANK and a member of the Sumitomo Mitsui Banking Corporation, Inc. (SMBC Group).

Question 4

What do you mean when you say you’re a digital bank? Is it the same as an online bank?

Accepted Answer

Actually, we’re both. Digital banking refers to using technology to conduct all forms of banking services - that means no branches. Online banking is specific access to personal accounts, services, apps, etc., through a bank’s website. So technically speaking, we’re both because you can’t have digital banking without online banking.

Question 5

Does Jenius Bank have branches?

Accepted Answer

No, we do not have traditional bank branches. Customers can easily access accounts through our mobile app or website, and ask questions via online chat or by contacting 24/7 human support at 844-453-6487.

Question 6

Where can I find the Jenius Bank mobile app?

Accepted Answer

The Jenius Bank mobile app¹ is now available on the App Store² and Google Play³ store. Download the app today to view account details, transactions, and much more.

Question 7

Why is Jenius Bank spelled with a “J”?

Accepted Answer

We like to do things differently, starting with the spelling of our name.

Question 8

Jenius.com takes me to a different bank. Is it affiliated with Jenius Bank?

Accepted Answer

There is a digital banking service provided by BTPN in Indonesia named Jenius. While BTPN is a part of the Sumitomo Mitsui Financial Group, Inc. (SMFG), it has no direct affiliation with Jenius Bank here in the U.S..

Question 9

Who can apply for a Jenius Bank product?

Accepted Answer

Jenius Personal Loans and Jenius Savings accounts are only available to U.S. residents, ages 18+. Currently, we are not accepting savings applications from residents of Hawaii and New Mexico, or accepting personal loan applications from residents of Hawaii, Nevada, Wisconsin, or Maryland.

Question 10

When did Jenius Bank open for business?

Accepted Answer

Jenius Bank has been open to customers since July of 2023. While we’re relatively new to the banking industry, we have a startup mindset paired with SMBC Group’s 400 years of history, so we’ll be here to grow with you for the long term.

Question 11

What is a personal loan?

Accepted Answer

A personal loan is money borrowed from a bank, credit union, or other organization, with a set repayment term. These loans are usually unsecured, approved based on the customer’s credit history, and don’t require collateral. The approval and funding process for personal loans is often faster than other options. Money from a personal loan can cover almost any expense, including a wedding, adoption, or debt consolidation*.

Question 12

What can a personal loan be used for?

Accepted Answer

You can use a personal loan to cover a range of expenses, from home renovations to weddings to debt consolidation*. However, there are some limits on personal loan usage. For example, they can’t be used to consolidate or pay off student loan debt.

Question 13

How much can I borrow?

Accepted Answer

Jenius Personal Loans start at $5,000 and go up to $50,000.

Question 14

What is the current rate for a Jenius Personal Loan?

Accepted Answer

Jenius Bank offers rates from  APR* that stay the same for the life of the loan.

Question 15

How long will it take to receive my funds?

Accepted Answer

Once you accept the loan terms, funds will be deposited into your bank account as early as the next business day*.

Question 16

Does Jenius Bank charge fees for personal loans?

Accepted Answer

Unlike other banks, you'll never pay a fee of any kind with a Jenius Personal Loan. For example, there are no loan origination fees, pre-payment fees, or charges for late or missed payments. No gotchas.

Question 17

How does repaying a personal loan work?

Accepted Answer

Personal loans are repaid in monthly installments, like a mortgage or car loan, and terms generally range from 24 to 60 months. Jenius Bank offers repayment terms ranging from 36 to 72 months*.

Question 18

Can I pay my Jenius Personal Loan off early?

Accepted Answer

Of course! You can pay off the full balance at any time, with no fees or penalties. Repaying early can also reduce total interest paid.

Question 19

How do I apply for a Jenius Personal Loan?

Accepted Answer

We are not currently accepting personal loan applications on www.jeniusbank.com. You may apply through Intuit Credit Karma or Lending Tree, if you meet eligibility requirements, and an offer is presented.

Question 20

Does applying for a personal loan affect my credit score?

Accepted Answer

Checking to see the rate you may receive will not affect your credit score. However, once you submit a personal loan application, as part of the approval process, we will complete what is called a “hard credit pull”. Credit pulls are recorded and multiple inquiries on your credit report in a short period of time may negatively impact your credit score.

Question 21

Will Jenius Bank charge late fees on personal loans?

Accepted Answer

Absolutely not! We get that stuff happens and won’t punish you with fees for accidentally being late making or missing a payment. However, we do encourage on-time payments as interest will accrue and credit scores can be impacted.

Question 22

Can I make an early payment on my Jenius Personal Loan?

Accepted Answer

Yes! However, any payment made before your monthly bill is created will not apply to your monthly payment obligation. Your payment will be applied as disclosed in your loan agreement, which is generally accrued interest, then principal.

Question 23

Can I list my spouse's income or my business income on my personal loan application?

Accepted Answer

All proof of income, including business income, must be in the applicant's name. That means you cannot use your spouse's income or combined household income when applying for a personal loan in your own name.

Question 24

Is a Jenius Savings account a high-yield account?

Accepted Answer

Yes! "High-yield" is typically a term that means a savings account earns higher annual percentage yield (APY) on the balance amount. Jenius Savings accounts definitely do that! Many banks use marketing lingo like high-yield, but it's the actual APY and features of an account that we recommend you focus on. Jenius Savings is not a CD (certificate of deposit) or money market account, and neither of those are currently offered at Jenius Bank.

Question 25

How can Jenius Bank offer such great rates?

Accepted Answer

Jenius Bank offers market leading rates on its savings accounts. Our focus on using advanced technology instead of physical bank branches lowers overhead expenses, enabling us to offer better rates and no fees, unlike traditional brick-and-mortar institutions.

Question 26

Are my savings protected at Jenius Bank?

Accepted Answer

Yes! Eligible deposits are insured for the maximum amount allowed by law with the FDIC (Federal Deposit Insurance Corporation). No matter what might happen, each Jenius Savings customer would be eligible for up to $250,000 in FDIC coverage*. If you are a Jenius Savings customer with a jointly owned account, you could be eligible for even higher FDIC coverage. Understanding the laws and regulations for FDIC insurance can be complicated, so they have a tool called the Electronic Deposit Insurance Estimator that can help you verify the maximum FDIC insurance for your deposits.

Question 27

Am I eligible for a Jenius Savings account?

Accepted Answer

Getting a Jenius Savings account is easy, but there are a few requirements. Applicants must: be over the age of 18, have a social security number, have a permanent U.S. resident address, and not reside in Hawaii or New Mexico. Jenius Bank does not currently offer savings accounts for businesses, trusts, or organizations.  To open an account, visit https://deposits.secure.jeniusbank.com/openaccount/.

Question 28

Is there a minimum balance to open an account or earn interest?

Accepted Answer

No! Jenius Savings accounts require no monthly minimum deposit to open an account and no monthly minimum balance to earn interest. So, as soon as we receive your funds, you will begin earning interest to help grow your savings and reach your financial goals.

Question 29

Are there any fees?

Accepted Answer

Unlike other banks, you'll never pay a fee of any kind with a Jenius Savings account. For example, there are no monthly maintenance fees, account opening fees, or transaction fees. No gotchas.

Question 30

How do I deposit funds into my Jenius Savings account?

Accepted Answer

Depositing funds into your Jenius Savings account is simple. Link an external bank account to make a one-time or recurring deposit or set up direct deposit with your employer to deposit all or part of your paycheck into your Jenius Savings account. Additionally, funds can be deposited via mail by sending an endorsed check, made payable to you, with your account number written below the signature to Jenius Bank Deposits at P.O. Box 7923, Carol Stream, IL 60197-7923.

Question 31

How do I withdraw funds from my Jenius Savings account?

Accepted Answer

Withdrawing funds from your Jenius Savings account is easy and fee-free. Sign into jeniusbank.com or the Jenius Bank Mobile app and schedule a withdrawal whenever you need money.

Question 32

Can I access money through an ATM or a debit card?

Accepted Answer

At this time, ATMs are not available for Jenius Savings customers to withdraw funds or deposit checks. Also, we do not currently offer debit cards. All transfers can be done by signing into jeniusbank.com or the Jenius Bank Mobile app.

Question 33

Are there limits on how much money I can transfer?

Accepted Answer

For the safety of your money, Jenius Savings has daily limits on how much money you can move in and out of accounts. You can transfer up to $250,000 in and $50,000 out of your Jenius Savings account, if the transaction originates from Jenius Bank. Transfers originated from external bank accounts are subject to their institution’s policy. Wire transfers are not supported at this time. Visit our Transfer Limitations page for more information.

Question 34

How is interest calculated?

Accepted Answer

Interest is compounded daily and paid at the end of each month.

Question 35

What is the routing number for Jenius Bank?

Accepted Answer

Jenius Bank's routing number is 122045354.

Question 36

What is the difference between APY and interest rate?

Accepted Answer

The key difference between APY and interest rate is compound interest. APY includes interest earned on the original balance and the amount earned in one year, whereas interest rate only accounts for interest earned on the original balance. At Jenius Bank, we compound interest daily, so APY is a more precise indicator for calculating earnings.

Question 37

Will my Jenius Savings APY ever change?

Accepted Answer

Jenius Bank offers market leading savings account rates, though it is possible your Jenius Savings account APY could increase or decrease as market conditions change over time. For example, the Federal Reserve could decide to change interest rates, which in turn could affect the APY we are able to offer.

Question 38

What types of accounts does FDIC insurance cover?

Accepted Answer

Not all accounts qualify for FDIC insurance. However, eligible deposits in savings accounts and checking accounts at member banks, as well as certificates of deposits (CDs) and money market deposit accounts (MMDAs) are FDIC-insured.

Question 39

Is there any catch to FDIC insurance?

Accepted Answer

Nope. FDIC insurance protects funds in eligible deposit accounts if your bank were to fail. So, you can feel confident your money is safe.

Question 40

Are all digital banks FDIC-insured?

Accepted Answer

Not necessarily. As the digital banking division of SMBC MANUBANK, eligible Jenius Savings deposits are FDIC-insured, but that doesn’t mean every digital bank is.

Question 41

Can I open a joint savings account?

Accepted Answer

Yes! We offer joint savings accounts. All applicants are required to be 18+, have a social security number, and a permanent U.S. resident address. We are not accepting applications from residents of Hawaii and New Mexico at this time.

Question 42

Can I add beneficiaries to my Jenius Savings account?

Accepted Answer

Yes! You can add as many as four individuals as beneficiaries (18 years or older) to your account. Adding a beneficiary must be done directly over the phone by calling 844-453-6487. You will need to provide each beneficiary’s first and last name, date of birth, and Social Security number, when speaking with our customer support team.

Question 43

What is mobile banking?

Accepted Answer

Mobile banking refers to the ability to conduct banking activities completely online, like paying bills and transferring funds. Since Jenius Bank does not have bank branches, mobile banking is the primary way for customers to service their accounts and access information.

Question 44

What are the benefits of downloading the Jenius Bank Mobile app?

Accepted Answer

The Jenius Bank Mobile app enables you to access your accounts when you want, where you want, safely. Make payments, move money, and see account transactions, when you download the mobile app.

Question 45

How do I set up my Jenius Bank Mobile banking account?

Accepted Answer

Downloading the Jenius Bank Mobile app is quick and easy! Just visit the App Store* or Google Play† Store from your smartphone and enroll or login to your account. If you have questions, our customer support team is available 24/7 at 844-453-6487.

Question 46

Is the Jenius Bank Mobile app free?

Accepted Answer

Yes! There is no cost or added fees to using the Jenius Bank Mobile app. And when an enhanced set of digital features launches in the coming months, those will be free too.

Question 47

Is the Jenius Bank mobile app secure?

Accepted Answer

Of course! We offer optional security features to ensure the protection of your accounts, like biometric sign-in. Biometrics use facial or fingerprint recognition to verify identity, making the Jenius Bank Mobile app that much more secure.

Question 48

How do I contact Customer Service?

Accepted Answer

You can contact our 24/7, U.S.-based, first-class, customer support by calling 844-453-6487.

Question 49

What is your mailing address?

Accepted Answer

We actually have two mailing addresses!  If you’re mailing a letter, please send to Jenius Bank at P.O. Box 71217, Philadelphia, PA 19176-6217.  If you’re mailing a deposit, please send an endorsed check, made payable to you, with your account number written below the signature to Jenius Bank Deposits at P.O. Box 7923, Carol Stream, IL 60197-7923.

Question 50

How do I submit an idea or suggestion to Jenius Bank?

Accepted Answer

We are excited to hear from you! Visit the Contact Us page and click on Share Your Ideas.

Question 51

How do I contact Jenius Bank for press inquiries?

Accepted Answer

We’re always happy to share our story. Please email us at jeniusbank@sourcecodecomms.com for all press inquiries.

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