Question 1

What is Jenius Bank?

Accepted Answer

Jenius Bank is a new digital banking business — backed by a real bank and is not a neobank. We’re building our products and services based on customer feedback and providing tools and insights to help customers make smarter money decisions.

Question 2

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 3

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. While 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 4

Will Jenius Bank have branches?

Accepted Answer

No, we don't have traditional branches because our customer chooses to interact mostly online.  Customers can easily access accounts through our website, online chat, or by contacting 24/7 human support with questions at 844-453-6487.

Question 5

Where can I find the Jenius Bank mobile app?

Accepted Answer

The Jenius Bank mobile app will be available on iOS and Android smartphones in the coming months. Until then, customers can access online banking on jeniusbank.com by clicking the “Log-In” button on the top right-hand corner. Building a truly differentiated digital product takes time – and we’re putting in the work now so when our app is available it’s primed for you to master your money.

Question 6

Why is Jenius Bank spelled with a “J”?

Accepted Answer

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

Question 7

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 8

Who can apply for a Jenius Bank product?

Accepted Answer

Currently, Jenius Bank offerings are available to U.S. residents only. We are not accepting savings applications from residents of Hawaii and New Mexico at this time. We are also not accepting applications for personal loans from residents of Hawaii, Nevada, Wisconsin, and Maryland.

Question 9

When did Jenius Bank open for business?

Accepted Answer

Jenius Bank lauched its first product, personal loans, and has been servicing 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 10

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 11

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 12

How much can I borrow?

Accepted Answer

Loans start at $5,000 up to $50,000.

Question 13

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 14

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. Funds can be received as early as the next business day*.

Question 15

Does Jenius Bank charge fees for personal loans?

Accepted Answer

No. There are absolutely NO fees, including no loan origination fees, prepayment penalties, and no charges for late or missed payments.

Question 16

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 36-72 months.*

Question 17

Can I pay my Jenius Personal Loan off early?

Accepted Answer

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

Question 18

How do I apply for a Jenius Personal Loan?

Accepted Answer

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

Question 19

Does applying for a personal loan affect my credit score?

Accepted Answer

Checking for 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 20

Will you charge late fees on your personal loans?

Accepted Answer

Absolutely not! We get that stuff happens, so we’re not going to punish our customers with late 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 21

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 22

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 23

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.

Question 24

How can Jenius Bank offer such great rates?

Accepted Answer

Jenius Bank offers market leading savings account rates. Our focus on using advanced technology to serve our customers instead of physical bank branches lowers overhead expenses. This approach enables us to offer better rates and no fees, unlike traditional brick-and-mortar institutions.

Question 25

Are my savings protected at Jenius Bank?

Accepted Answer

Yes! The eligible deposits of Jenius Bank customers 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 26

How do I open a Jenius Savings account?

Accepted Answer

Open an account in minutes by going to https://deposits.secure.jeniusbank.com/openaccount/. 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 27

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 faster.

Question 28

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 29

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 to deposit funds 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 a fully completed and endorsed/signed check, made payable to you, to Jenius Bank Deposits at P.O. Box 7923, Carol Stream, IL 60197-7923

Question 30

How do I withdraw funds from my Jenius Savings account?

Accepted Answer

Withdrawing funds from your Jenius Savings account is easy and fee-free. Transfer money to external accounts when you need it by signing into jeniusbank.com and scheduling quick withdrawals.

Question 31

How is interest calculated?

Accepted Answer

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

Question 32

What is the routing number for Jenius Bank?

Accepted Answer

Jenius Bank's routing number is 122045354.

Question 33

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 that’s earned on the original balance as well as the amount of compound interest earned in one year but interest rate only accounts for interest earned on the original amount. At Jenius Bank, we compound interest daily, so APY is a more precise indicator for calculating earnings.

Question 34

Will my Jenius Savings APY ever change?

Accepted Answer

Jenius Bank offers market leading savings account rates, and 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 increase or decrease interest rates, which in turn could affect the APY we are able to offer.

Question 35

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 deposit (CDs) and money market deposit accounts (MMDAs) are always FDIC-insured.

Question 36

Is there any catch to FDIC insurance?

Accepted Answer

Nope. No depositor at an FDIC member bank has ever lost their covered funds. So, you can feel confident your money is always safe.

Question 37

Are all digital banks FDIC-insured?

Accepted Answer

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

Question 38

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 39

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) on your account. They will need each beneficiary’s first and last name, as well as date of birth and Social Security number.

Question 40

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.

Question 41

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 42

What is your mailing address?

Accepted Answer

We love hearing new ideas! Visit the Contact Us page and click on Share Your Ideas. But if you need to send us a letter, you can mail it to Jenius Bank at P.O. Box 71217, Philadelphia, PA 19176-6217.

Question 43

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

Accepted Answer

We love hearing new ideas! Visit the Contact Us page and click on Share Your Ideas.

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