JeniusbankReviews of jeniusbank.com

I use this bank for a savings for my daughter has high interest and let the money sit as long as you want. For other things I don't try to get a loan or not, to me if you keep money on there then you can get a loan from them, but if you keep small balance don't expect a loan. For me, great savings account.

I am not sure what all the issues are with withdrawing funds from this account. I have made three, what I feel are substantial, withdrawals just under the daily limit and it took 2-3 days for the funds to hit my account. No different than the timing I get from my other on-line banking services. Customer support has been great and have been able to provide me an answer every time. It is nice to be able to pick up a phone and talk to someone vs. doing everything digitally.

I have a Savings account with Jenius Bank. Some people complain about the multiple authentication and wanting personal information. I believe that is there for your own protection. So far I have been able to make transfers flawlessly without any issues. It is as simple as it gets.

The other negative reviews do not do justice, as I think Jenius Bank is the perfect savings account. Yes, Jenius Bank is new, but they are also under the SMBC group, the largest Japanese bank by deposit and the 12th largest bank worldwide with an excellent reputation. Their reputation, plus the FDIC insurance and excellent APY, gave me the confidence to open an account. Compared to other digital banks, Jenius Bank lacks features such as a smartphone app with a nice UI and bucketing. But I do not see this as a drawback, as the whole purpose of having a savings account is to save money, and psychologically, a nice UI makes it too easy for me to check my balance and withdraw money. The limited web-based UI is perfect for me as I want to save my paycheck slowly for bigger future goals. Similarly, while other banks offer nice bonuses, I do not find those perks appealing as they tend to involve complicated schemes. I just wanted an account that I could keep long-term and gain compounding interest as easily as depositing money in and out without thinking about achieving a certain minimum balance. Opening an account was also very easy. It only took Jenius Bank one day to review my application. Once approved, linking my checking account and depositing some funds was very smooth. Withdrawal to the external bank account, on the other hand, can be a little tricky. I wanted to withdraw some funds to my external checking account, but the transaction was not automatically transferred and instead had to be manually reviewed by a human. The fraud team then called me to clarify that they had to ensure the external checking account was mine. They also assured me that this manual review was just a one-time thing as the external checking account was different than the checking account I used to deposit funds to the account. After the fraud team confirmed that the external checking account was mine, they approved the transaction, and I received my funds the next business day. I think this is the part that the negative reviews on the savings account are about, as they may not feel comfortable sharing personal banking documents, which, as a result, leads to application rejection and inability to withdraw funds. Personally, I do not see this as a problem because I would rather share my documents than have the fraud team not do their job, which could risk scams/ fraudulent transactions going unchecked. The withdrawal process does take 2-3 business days as Jenius Bank has to review transactions first. Indeed, this feels slow, but again, this is a good system in the greater scheme. If it is not easy to withdraw my funds anytime I want, it encourages me to save long-term. A digital savings account backed by a reputable big Japanese bank and FDIC insured with simple web-based UI and high APY. If assurance, simplicity, and a high interest rate are what you are looking for, then Jenius Bank is perfect for you.

I called their 24/7 line today as I am considering opening up a saving account due to the high yield. First, I wanted to see could I really talk with a live person and Lori answered in 2 rings. Noticeably absent on the website including FAQ's was how are withdrawals handled. So, verbally she told me max 50K daily Monday thru Friday prior to 7pm. No monthly limits eith $ amounts or # of withdrawals. I suggested to her that this information regarding withdrawals should be present on the website and I would still want to see it in writing before I deposit any funds. Lori was very helpful and pleasant!