Juno Fintech: 5% Interest, now on up to $25,000 + Sell All Crypto Immediately!

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Update 1/3/2022: Today, I received two very different emails from my Juno fintech account. The first one happily told me that the balance limit on their 5% interest rate was raised from $10,000 to $25,000 and emphasized that everything with good ole’ USD was still FDIC-insured through Evolve Bank & Trust. $25,000 at 5% held at Juno would now earn over $100 a month in interest!

The second one warned me that their unnamed crytpo custodian was shaky and they advised me to either self-custody or sell all my crypto with them immediately. Crypto buys are currently disabled and they are looking to switch custodians. They even auto-liquidated USDC and USDT stablecoins for some users and moved the funds into the FDIC-insured side.

First, definitely sell any crypto! But what if you never used Juno for crypto? Theoretically, your FDIC-insured cash should be firewalled from the crypto side. Realistically though, there is still a chance for disruption in the access to your cash if the entire fintech fails, so I would not keep any funds you might need immediately there. In the end, I feel they are trying to help in telling you to get out ahead of time here (instead of instantly freezing withdrawals like others), but it still makes me question their judgment. I will personally tread cautiously here despite the new balance limits. You may feel differently.

Updated full review:

Juno.finance (formerly OnJuno) is a fintech that combines an FDIC-insured bank account and a crypto custodian. Notably, the banking part now pays 5% interest on up to $25,000 balance. Details:

  • New: Earn 5% on all cash deposits up to $25,000 and 3% on cash deposits from $25,001 up to $250,000. This applies to traditional cash deposits (USD), which are FDIC-insured through Evolve Bank & Trust. Applies to both the Basic and Metal tiers. No transaction or direct deposit requirements.
  • Up to 5% cashback on debit card purchases. Metal tier offers 5% cashback on your 5 selected merchants on up to $6,000 per year (max rewards $300). Basic tier only gets up to $500 per year ($25 max).
  • New: JCOIN Loyalty Program. Earn loyalty tokens “JCOIN” when you complete certain actions with Juno. Existing users should check their accounts as Juno just “airdropped” a bunch of these coins for free to users that you must claim. These loyalty tokens are redeemable inside the app for an interest rate boost to 5.5%, cashback boosts, and other promised stuff that may or may not materialize.
  • $10 + 500 JCOIN Referral bonus. If you open via referral link, there is a $10 + 500 JCOIN bonus offer.

OnJuno partners with Evolve Bank and Trust for FDIC insurance. A reminder that cryptocurrencies, including USDC stablecoins, are not covered by FDIC insurance even though the creators claim they are backed 1:1 by US dollars. Juno has added support for crypto and external wallets, and you can set it up to automatically convert your direct deposits into BTC, ETH, USDC, or a mix of currencies. Don’t confuse your FDIC-insured USD deposits with stablecoins.

Metal tier benefits. The requirement to reach the Metal tier is maintaining qualifying Direct Deposits of $250 per month. A benefit of Metal tier is that your 5% cashback on your selected merchants like Amazon/Uber/Doordash/etc works on up to $6,000 in purchases per year (max rewards $300). Basic tier only gets up to $500 per year ($25 max). Another benefit is that you are allowed to redeem more JCOIN rewards each month.

  • Basic users have a 5,000 JCOIN daily limit and 50,000 JOIN monthly redemption limit.
  • Metal users have a 25,000 JCOIN daily limit and 150,000 JOIN monthly redemption limit.

Metal tier no longer directly affects your bonus rate on cash, but if you have the Metal tier, you are allowed to spend 350 JCOIN and “boost” your rate from 5% to 5.5%. So it can still indirectly affect your rate paid.

This might make it worthwhile to switch some of my direct deposit over if I’m already going for the 5%… if I switch $350 a month, that would earn 350 JCOIN on its own, which would boost my rate up to 5.5%. The 3% on everything else isn’t bad at all either.

Traditional Bank-to-bank transfers. OnJuno uses the Plaid service to link with external bank accounts for funding and free ACH transfers (both deposits and withdrawals). They also provide you with the full account number and routing number, which you can use to connect with other banks like Ally, Marcus, CapOne 360, etc. The routing number is 084106768 which is confirmed as that of Evolve Bank & Trust. I was able to make a deposit and withdrawal initiated at Ally without issue (subject to transfer limits of $20,000 daily/$500,000 monthly). As with some other fintechs, their in-house limits are lower.

Bonus rate, not APY? You may notice that they don’t use “APY” and instead say “bonus rate”. Here’s their reason:

The Bonus Rate is offered entirely by OnJuno and is not interest provided by Evolve Bank and Trust. The bonus rate You earn will be credited to Your account at the beginning of each month. Your funds begin generating a bonus rate once they are available on Your OnJuno Checking Account. Please note that OnJuno reserves the right to cancel, remove, and change this bonus at any time. OnJuno also reserves the rights, in sole discretion, to refuse this bonus without cause, reason, and notice.

I’ve been getting my bonus rate every month without issue at the proper annualized rate, so this just seems to be a legal thing. Your interest is still shown on a 1099-INT at the end of the year. I already see the 5% rate on my app:

5% cash back debit card merchant list. You can choose 5 from the following list of brands.

  • Amazon, Target, Best Buy, Walmart, Netflix, Amazon Prime, Disney+, Spotify, Headspace, Calm, Whole Foods, Walgreens, Trader Joe’s, CVS, Uber Eats, Grubhub, Postmates, Doordash, Starbucks, Dunkin Donuts, Blue Bottle Coffee, In N Out, Taco Bell, Wendy’s, Chick-fil-A, Uber, Lyft, and AirBNB.

See warning above regarding crypto.

New Juno Crypto Wallet. Send and receive crypto from external wallets. Bridge crypto to L2s like Arbitrum, Polygon and Optimism directly from checking account. Juno currently offers 0.5% fee on stablecoin trading, 1% fee on non-stablecoin trading. However, you can use 100 JCOIN to get a 100% discount on stablecoin trading, and 50% discount on non-stablecoin trading. Crypto deposits and withdrawals are free.

New JCOIN loyalty program, ways to earn. Earn loyalty tokens “JCOIN” when you complete certain actions with Juno. These loyalty tokens are
redeemable inside the app for merchant discounts, cashback boosts, and to waive crypto trading fees. Ways to earn JCOIN:

  • (Existing users should first check account to claim free JCOIN from past activities.)
  • First funding to your Juno account – 250 JCOIN
  • Card spends with crypto – 2x rewards
  • Card spends with cash – 1x rewards
  • Connect a cash direct deposit – 1x rewards every time your paycheck hits Juno
  • Connect a cash direct deposit – 2x rewards every time your paycheck hits Juno
  • Refer a friend – 1000 JCOIN

Additional details.

  • Instant virtual cards. You can create “virtual” 16-digit debit card numbers in the app, which are different than your physical card and you can “lock” them at any time. This may be useful for fraud prevention and perhaps even pesky trial offers.
  • Transfer limits. If you plan on transferring larger sums of money, know that OnJuno has different transfer limits for if you initiate with them vs. external institution. The external daily limits are much higher, currently $70,000 per day vs. $10,000 per day. View limits here.
  • Customer service. You can contact them via phone at 415-969-5775 (9am to 6pm Pacific) or online message (they replied to me within a few hours).
  • No minimum balance requirement.
  • Fee-free access to both Allpoint and Moneypass ATM networks (85,000+ locations).
  • Free debit Mastercard.
  • No mobile check deposit yet.

Bottom line. Juno is a fintech banking app with the unique feature of paying 5% on up to $25,000 of cash deposits with no direct deposit or debit card usage requirements. FDIC-insurance from Evolve Bank and Trust.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

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  1. I’ve signed up with OnJuno for the 6 month trial. It’s okay-ish so far. The biggest disappointment is their nonsense ACH policies.

    * You cannot link non-Plaid accounts at all. You’ll have to initiate ACH transfers from the other institution for any account not in Plaid.
    * There is a $15k ACH limit per day and they will reject and return ACH payments giving you an unnecessary headache with your other institutions

    • Jason Boxman says

      Consider yourself lucky in that when I signed up for this two years ago the transfer limit was like 2k and I got burned on an ACH rejection. 15k seems at least enough for maxing the 5%. Still annoying though completely agree.

  2. I opened an account with OnJuno after being on the wait list and getting the 6-month Metal tier for free. I, too, had difficulty getting a good pic of my driver’s license. In fact, they finally accepted it when I applied online but they delayed opening the account because of it. They sent me an email asking that I submit a new picture of both the front and back of my DL. I thought it odd that they would not accept a scanned pic of the DL, according to the directions.

    After opening the account, I realized that I did not see anything about the possibility for adding a POD (payable on death) beneficiary to the account. I wrote and asked about this; the CSR replied, “We currently do not offer an option for beneficiaries, but it is something we are looking into.”

  3. To qualify for the OnJuno Metal Tier to get the higher interest rate of 2.15% on funds up to $30K without paying $9.99/month, one needs to set up a direct deposit. Over $30K, the rate drops to 0.25%. This tier also gives you 5% cash back on up to $3,000 a year in debit card purchases. There is no mobile app, no check writing, and no possibility of depositing a check online or via a mobile app.

    An alternative to OnJuno is Presidential Bank’s Advantage Checking which also requires a direct deposit (minimum of $500/month). This account, however, pays 2.25% on funds up to $25K and 0.65% over $25K. There is no 5% cash back feature using a debit card, but this account does permit check writing and mobile banking, including mobile check deposits. They also offer POD (payable on death) beneficiary accounts which OnJuno does not do.


  4. Jason Boxman says

    Not anymore:

    “We’re writing to let you know that the bonus rate for your OnJuno Checking Account is changing from 2.15% to 1.20% on all balance tiers.

    Don’t worry! You will still have time to enjoy our higher bonus rate of 2.15%, in line with our commitment to provide an open and transparent banking product. This 1.20% bonus rate is effective from 1st November 2021 for all existing users and from 20th May 2021 for all new users.

    We will be updating our website with these new rates very soon.”

    Glad I abandoned it when I got burned on a large rejected inbound ACH transfer in December.

    • Jared Ross says

      That’s actually much better than what was originally promised. The 2.15% bonus rate was initially only valid until 7/31/21, now we get an extra 3 months, not sure how you can complain about that.

      • Another very important detail is that there is no longer the $9.99 monthly fee for Metal tier as well. I would much rather have 1.20% on $50k and zero monthly fee than 2.10% on $30k with a $10/month fee.

        Meanwhile, Ally, Marcus, CapOne 360, etc are all still around 0.50% APY.

      • Jason Boxman says

        I complain because the transfer limits are so absurdly low that I got hit with a $15 rejected ACH from my bank for attempting to transfer the underwhelming sum of 10k out when it was clear this wasn’t the deal for me. The lack of liquidity makes it a very very hard sell. I like my cash assets liquid.

  5. Post is a little misleading. I checked with them. This doesn’t kick-in until Oct 31.
    – Eligible balance for the Bonus Rate is increased to $50,000 (formerly $30,000)

  6. What will count as Direct Deposit? Will ACH transfers from Ally satisfy?

  7. It’s November and I’m still showing an interest rate of 2.15%

  8. The bonus now is $100 once you deposit $250

    If it’s all the same to you which referral to use please consider using mine. I have many friends and relatives in war-ravaged Ukraine and try to help them financially directly. They need every bit of our help right now. Please also consider donating. Thanks!

    Few useful OnJuno tidbits:
    – Always ACH push/pull from outside as limits are much higher (the limit is $70k right now, it used to be lower)
    – Always verify the limits as they change: https://help.onjuno.com/en/articles/4543197-transfer-and-spend-limits

  9. I am also seeing American Airlines and United Airlines in

  10. I can’t send out my btc to my other btc wallet address is this a joke or something…… I saw lots of comments about this platform and still decided to trade with you guys and now I am regretting my actions

  11. Freedom35 says

    Any experience on what counts as “direct deposit” if you don’t have access to an easily changed payroll? How soon after depositing did the bonus show up? I’d like to try a couple options and see what sticks

  12. I just got an email that they are offering a 5% annual bonus on cash deposits up to $10,000 , FDIC insured. That is not bad and beats current CD rates? Was low on details on how that bonus is calculated

  13. Buyer beware, I just discovered Juno doesn’t support VPNs. You must disconnect from your VPN before they will let you create or login to an account. Not cool. For security reasons, many corporate environments do not allow users to logout of the VPN.

  14. After previously creating my account, I was able to log in just fine while using NordVPN. No problems

    • Jeremy, thanks for the comment. I just tried it again, and it now looks like they are accommodating VPNs; which is great to see. A week or two ago, I got a pop-up messaging saying VPNs were not supported.

  15. Jason Boxman says

    If you rage close your account like I did 24 months ago, it won’t let you signup again with the same email; Says account already exists. Trying to login yields “account closed”. For taking money out, we’re still at:

    ACH Withdrawal via Linked Bank Account: 1k daily, or 10k monthly
    Sending money to external accounts via Account and Routing number: 1k daily, or 10k monthly

    So it’s probably best that I closed my account anyway. 10 days to get all your cash out is ridiculous.

  16. I believe they had been using Wyre as their crypto custodian who is said to be liquidating. https://www.axios.com/2023/01/03/wyre-shutdown-crypto-winter

  17. I didn’t receive a email. Does this apply to everyone”
    “5% interest rate was raised from $10,000 to $25,000 ”

    Is there a public link that shows the increase?

  18. Why even bother? I’d build a state tax free 4 week T-Bill ladder at 4% and give up on the extra $150 some odd dollars you would otherwise get from Juno (assuming they don’t change the rate once some deposits roll in. Find a great tutorial here!: https://www.mymoneyblog.com/how-to-build-a-treasury-bill-ladder-a-visual-guide.html

    • Jason Boxman says

      Exactly. That’s what I’m doing. After my previous experience with Juno a few years ago, I decided not to hop back into this for a few hundred some pre-tax dollars.

  19. Check your account to see the latest update under “home”.

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