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

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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 important checking account. Juno moreover has a protracted itemizing of corporations you presumably can earn cash back with. Choose 5, and you might earn 5% cash back on as a lot as $500 of spending with these firms yearly.

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

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

How Juno works

Juno is a digital banking platform that was beforehand generally called OnJuno. Existing Juno shoppers will nonetheless have the equivalent account and corporations. The solely issue that is altering is the company’s determine.

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Juno has two sorts of checking accounts. OnJuno Basic Checking Account is its free mannequin, and OnJuno Metal Checking Account is its premium mannequin that you’ll want to maintain a qualifying direct deposit of $250 month-to-month for.

Juno does not current joint checking accounts.

The site specifies that Juno makes it simple for immigrants to qualify. All it is important open an account is a Social Security amount and passport.

With Juno, you presumably can 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 may also 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 with out value. Juno doesn’t value you for using an out-of-network ATM, nonetheless the ATM provider could. In this case, Juno refunds one cost month-to-month on a Basic account and three month-to-month for a Metal account.

There aren’t any overdraft fees, nonetheless you moreover have not obtained the selection to overdraw. If a purchase order order would overdraw your account, Juno denies the transaction.

Call purchaser help Monday by 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 anyone on-line 24/7, so that you presumably can nonetheless chat on-line exterior of normal hours. The response time merely is not going to be as fast.

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

Juno trustworthiness and BBB rating

The Better Business Bureau offers Juno’s affiliate 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 highly effective BBB rating, you could possibly resolve you feel cosy banking with Juno.

Juno analysis vs. Cheese analysis

Juno and Cheese every present high-yield checking accounts. Both corporations make it simple for immigrants to enroll. Cheese is especially for immigrants and Asian Americans; it donates cash to Asian American nonprofits and offers cash back at certain Asian American-owned firms.

Cheese’s value is comparable with Juno’s lower-tier value. But you might almost definitely nonetheless earn further curiosity with Juno, on account of its elevated value 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 unlimited amount of purchases. Meanwhile, Juno pays you 5% cash back on a restricted amount of purchases, and you may solely choose 5 corporations to earn rewards with.

So your choice between the two may come all the way in which all the way down to which could revenue you further — a extreme price of curiosity or cash back.

Juno analysis vs. Porte Review

You might select Porte if you happen to want to open every a checking and monetary financial savings account. Porte doesn’t pay curiosity on checking balances, nevertheless it certainly does pay Porte Savings Account Annual Percentage Yield (APY) on monetary financial savings.

Porte offers good cash back perks, nonetheless the offers change every 30 to 45 days. If you want to know what you might be getting ahead of time, you could possibly want to go with Juno.

Porte is an environment friendly chance if you happen to want to help 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 is not going to value you one thing. Porte matches 0.05% of every purchase you make and affords that cash to the group. You can monitor how so much has gone to the set off in your app.