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

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 6

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 7

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 8

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 9

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 10

How is interest calculated?

Accepted Answer

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

Question 11

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 12

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 13

What is the routing number for Jenius Bank?

Accepted Answer

Jenius Bank's routing number is 122045354.

Question 14

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.

Start earning 5.25% APY today.

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How Can We Offer Such Great Rates?

New Digital Bank, Rich History

1590

1673

1962

1981

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2023

1590

1673

1962

1981

2001

2023

Fee-Free Savings

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