JeniusbankReviews of jeniusbank.com

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.

Awful company! Tried to apply for a loan and was called daily with a new task I had to complete (upload pay stubs, now upload 1040, now upload reference, etc.) and was still told my application expired after 2 weeks of working on it, and I even completed a required step the night before it expired because that was the day the step opened for me. They will do anything to not actually provide a loan or a secure account, but are fine with running a hard credit score and gaining an abundance of personal information. I was not denied based on credit score or anything else on my end, very frustrating to just have an application expire while waiting for Jenius to complete their steps.

Savings account application twice with no explanation either time. Calling the customer service number is useless as they can’t give you a specific reason. Also, be aware that daily withdrawal limits are in place and wire transfers are not allowed. This bank offers a seriously flawed experience for its applicants and customers.

Jenius bank should be reported to the federal comptroller for its banking practice .They obtain private and confidential information for a savings application and then without notice the application ends telling the customer that will be subject to approval. Later on they deny the application without a reason. What is the bank doing with the private confidential information? I called the bank and they put you on a waiting list. DO NOT APPLY OR TRUST THIS BANK. I will be filing a concern with the Comptroller.

Genuinely horrible and concerning experience. This is about the consumer lending side, not savings accounts and has nothing to do with being approved or declined. Their front line customer service agents are friendly and encouraging, however the follow through on the other side i.e. application department or whomever aren't doing anything. Twice I've applied for a loan, and twice the application expired through no fault of my own. I called in to confirm they had everything they needed just to make sure since I was getting daily reminders that they are waiting on something. The agents I spoke with each time, stated nothing was missing and they would open a ticket so that someone would look into it and reassured me they could see every document they needed. I still got reminder emails something is missing and finally a notice saying my application would close. Each time I called in, they said I owe them nothing and they would send a ticket to another team. When the last agent looked into the tickets, they said there were no completion notes. Only closed tickets. So someone isn't doing their job. It's shady and unprofessional. I never received an approval or a decline because the cases simply expired because of them, not me. This is all about their business process and lack of doing what they say they will do.

I applied for a saving acct, they sent an automatic response in minutes stating the application is in review. Four weeks later I called for the status of my application. First, the rep couldn't find the application, then when he finally retrieved it, he said it was denied because they couldn't verify the information I provided. He also did not know the banks email address, but I now see an email at the bottom of this review! At this point, I would never do business with this company, they don't accept any emails, so you must call them. This company has very poor communication skills and leave the customer hanging. Their loss for not having me for a customer, bad decision on their end. I'll take my 6 figures and go elsewhere, to some other bank that treats their customers with more respect.

I have been trying to close my account with Jenuis, for 2 weeks now. My account has been under review for 2 weeks and they keep saying 2-3 business days to release it back to you. It takes 1 business day to send money in this day and age. They advertise that you can move money in and out with no hold! This is not true! I am still waiting for my money to go back to my bank. The advertisement of easy, quick withdrawals...ALL LIES!!!

I tried to open a savings account with Jenius Bank and received a quick response - "your application has been declined" with no explanation. I called the 844 number listed and spoke with a customer service representative. The person said that some of the information I input did not match my information and that maybe I made a typo and to try again. I reapplied and was very careful in inputting my information the second time. I received the same message - "your application has been declined" with no further explanation. I have been at my same address, phone number, etc for more than 25 years with good banking relationships. I don't understand why a bank would decline to open an account and give you no reason. Hopefully others do not have this same experience. I will see if there are other banks offering high yields that are interested in my business.