Question 1

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 2

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 3

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 4

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 5

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 you deposit funds, you will begin earning interest to help grow your savings and reach your financial goals faster.

Question 6

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 7

How do I deposit or withdrawal funds from my account?

Accepted Answer

Depositing funds into your Jenius Savings account is simple. Setting up direct deposit with your employer is a great way to deposit all or part of your paycheck or you can link an external bank account to deposit funds. Additional deposit methods will be available in the coming months.

Question 8

How is interest calculated

Accepted Answer

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

Question 9

What is the routing number for Jenius Bank?

Accepted Answer

Jenius Bank's routing number is 122045354.

Question 10

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 11

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.

4.75% APY Lets You Reach Your Savings Goals Faster

A Better Way to Save

Market Leading Rates

FDIC Insured

No Minimum Balance

First-Class Customer Service

No Fees

24/7/365 Fraud Monitoring

Your Earnings Will Grow and Grow with a 4.75% APY

Start Saving in Minutes

Fee-Free Savings

Integrity is Core to Who We Are

Stability

Protection

Confidence

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