Juno evaluation: Digital high-yield checking account with cash back rewards

Insider’s consultants choose the best providers to help make good choices with your cash (here’s how). In some cases, we acquire a payment from our our partners, nonetheless, our opinions are our private. Terms apply to presents listed on this internet web page.

Pros and cons

Checking

OnJuno Basic Checking Account is a robust high-yield checking account. There’s no minimal opening deposit or month-to-month maintenance expenses. You’ll earn 1.20% APY on balances as a lot as $5,000 with the elemental checking account. Juno moreover has an prolonged guidelines of companies chances are you’ll earn cash back with. Choose 5, and chances are you’ll earn 5% cash back on as a lot as $500 of spending with these corporations yearly.

OnJuno Metal Checking Account is rather like the Basic account, nevertheless with a variety of additional perks. You’ll acquire cash back on as a lot as $6,000 of spending per yr, and procure additional refunds for any out-of-network ATM expenses.

The draw back is that OnJuno Metal Checking Account requires that you just protect a qualifying direct deposit of $250 or additional month-to-month to stay with the metallic account standing.

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How Juno works

Juno is a digital banking platform that was beforehand commonly known as OnJuno. Existing Juno prospects will nonetheless have the an identical account and suppliers. The solely issue that is altering is the company’s determine.

Juno has two types of checking accounts. OnJuno Basic Checking Account is its free mannequin, and OnJuno Metal Checking Account is its premium mannequin that you would protect a qualifying direct deposit of $250 month-to-month for.

Juno does not current joint checking accounts.

The website online specifies that Juno makes it easy for immigrants to qualify. All it’s advisable open an account is a Social Security amount and passport.

With Juno, chances are you’ll earn 5% cash back on cash purchases or crypto purchases on as a lot as $500 with the OnJuno Basic Checking Account, and on as a lot as $6,000 with the OnJuno Metal Checking Account. You might earn as a lot as 3% yearly on USDC and 6% yearly on BTC and ETH in your Juno Wallet.

You can use 85,000 Allpoint and MoneyPass ATMs nationwide freed from cost. Juno wouldn’t value you for using an out-of-network ATM, nevertheless the ATM provider might. In this case, Juno refunds one cost month-to-month on a Basic account and three month-to-month for a Metal account.

There are not any overdraft fees, nevertheless you moreover have not bought the selection to overdraw. If a purchase order order would overdraw your account, Juno denies the transaction.

Call purchaser assist Monday by means of Friday, 9 a.m. to 6 p.m. PT. Or chat on-line seven days per week, 5:00 a.m. to 6:00 p.m. PT. A buyer assist agent instructed Insider the company tries to have any individual on-line 24/7, so chances are you’ll nonetheless chat on-line exterior of ordinary hours. The response time merely won’t be as fast.

Your deposits are FDIC insured for as a lot as $250,000 by means of Juno’s companion monetary establishment, Evolve Bank & Trust.

Juno trustworthiness and BBB rating

The Better Business Bureau presents Juno’s companion monetary establishment, Evolve Bank & Trust, an A+ rating. The BBB measures trustworthiness by assessing a company’s responses to purchaser complaints, honesty in selling, and transparency about enterprise practices.

Neither Evolve Bank & Trust nor Juno have any newest public scandals. Between the clear historic previous and sturdy BBB rating, you would resolve you are feeling comfortable banking with Juno.

Juno evaluation vs. Cheese evaluation

Juno and Cheese every present high-yield checking accounts. Both companies make it easy for immigrants to enroll. Cheese is especially for immigrants and Asian Americans; it donates cash to Asian American nonprofits and presents cash back at positive Asian American-owned corporations.

Cheese’s cost is comparable with Juno’s lower-tier cost. But chances are you’ll more than likely nonetheless earn additional curiosity with Juno, as a consequence of its elevated cost on lower balances.

Cheese’s cash back rewards are stronger, though. It lets you earn as a lot as 10% cash back with fairly just a few retailers on an infinite amount of purchases. Meanwhile, Juno pays you 5% cash back on a restricted amount of purchases, and you will solely choose 5 companies to earn rewards with.

So your various between the two might come proper right down to which could revenue you additional — a extreme charge of curiosity or cash back.

Juno evaluation vs. Porte Review

You would possibly need Porte in case you want to open every a checking and monetary financial savings account. Porte wouldn’t pay curiosity on checking balances, but it surely absolutely does pay Porte Savings Account Annual Percentage Yield (APY) on monetary financial savings.

Porte presents good cash back perks, nevertheless the presents change every 30 to 45 days. If it’s worthwhile to know what you might be getting ahead of time, you would have to go with Juno.

Porte is an efficient chance in case you want to assist a charity, though. Select to help the Humane Society of the United States, Save the Children, or GLAAD (an LGTBQ+ advocacy group). Supporting a charity won’t worth you one thing. Porte matches 0.05% of every purchase you make and presents that cash to the group. You can observe how rather a lot has gone to the set off in your app.