Juno Review 2024: High-Yield Checking Account

Juno, formerly OnJuno, is a socially conscious financial technology that launched in 2017. Juno aims to provide accessible resources and aggressive interest rates for immigrants, expats, and anyone who wants to reach their financial goals faster.

With a lean, tech-forward approach to banking, Juno is an interesting player in the growing digital banking space.

In this post, you’ll find out what sets Juno apart and what you can expect as a customer.

Juno Checking Account

Juno’s lone financial product is an interest-bearing checking account that comes in two tiers — Basic and Metal.

The account is an entirely digital, all-in-one bank account that aims to serve all of your day-to-day financial needs.

Basic

Basic is a free account that has no monthly fees. There are no minimum balance requirements or other hidden fees.

The account fills the role of checking and savings accounts, so you won’t have to worry about maximum withdrawal limits. You can always take out cash for free at Allpoint or MoneyPass ATMs, and Basic comes with one reimbursement for out-of-network ATM use each month.

With both Juno account types, the biggest perks are the APY and cashback rewards. Juno users can earn up to 5% interest on cash deposits and an additional 5% cash back on qualifying purchases through Uber, Instacart, Dunkin, Walmart, and Airbnb.

Metal

Metal is a premium account tier and requires monthly direct deposits of $100 to maintain. Metal comes with all of the same perks as Basic but expands on its earning potential. The same high-interest rate is available, but the 1.20% rate is applicable on balances up to $50,000.

To put this in context, even if you only use Metal for 6 months, you’ll earn as much in interest as you would in an entire year with a 1.00% APY high-yield savings account.

Metal comes with more to earn on cash back, too. All of the same brands will earn rewards, and you’ll get the same 5% back on up to $6,000 in annual spending.

You’ll also have a little more flexibility on ATM use, with three out-of-network fees reimbursed per month. Metal checking also comes with an exclusive black metal debit card.

Features

Here are some of the features that you can expect to see with a Juno account:

Mobile App

Juno is an entirely mobile banking service, so there are no physical locations. From the app, you can send and receive money, make transfers, and take care of any bill payments.

Juno is very much a growing platform, so reviews on its app are somewhat limited.

So far, the app has a rating of 3.9 stars (out of 5) in the App Store and 3.6 stars (out of 5) in the Google Play Store.

85,000 Free ATMs

Juno partners with both Allpoint and MoneyPass, giving its customers fee-free access to more than 85,000 ATMs in the US.

There’s no fee if you can’t find an Allpoint or MoneyPass ATM, and depending on your account, you’ll get reimbursed for some ATM fees every month.

Contactless Payments

Juno is compatible with Apple Pay, Google Pay, and Samsung Pay. It also allows you to create instant virtual cards, which function in the same way as a debit card without carrying around a physical card.

Interest on Crypto

Currently, you can earn 6% APY on your Juno USDC crypto holdings and 3% on both BTC and ETH.

Fees

As an entirely online institution, Juno doesn’t have traditional banking fees.

This is partially due to low overhead but is also a result of its somewhat limited platform.

For example, most banks charge fees for wire transfers; Juno doesn’t, but only because it doesn’t support wire transfers (incoming or outgoing) at all.

Similarly, you won’t get hit with overdraft fees because your Juno account won’t allow you to overdraft on purchases in the first place.

If your account does go into the red with an ACH transfer, there’s still no fee, but Juno provides the disclaimer that your account will be eventually closed if you don’t correct your balance.

With that in mind, let’s take a look at the few fees that could pop up and how to navigate them.

Monthly Maintenance Fee

Both Basic and Metal are free; however, you’ll need to maintain a monthly direct deposit of at least $100 or you’ll be downgraded to the Basic plan.

It’s important to note that if you are downgraded within 3 months of obtaining metal status you’ll also have to pay a $60 fee for the metal card.

ATM Fees

You’ll get one reimbursement for ATM fees per month with Basic and three with Metal.

This is a nice perk, but if you tend to take out a lot of cash, the fees could start to add up if you don’t have an Allpoint or MoneyPass ATM nearby. However, this is incredibly unlikely as Allpoint and MoneyPass ATMs are often conveniently located in convenience stores nationwide.

Getting Started

Applying for a Juno account is easy and can be done in as little as three minutes. Just head to the Juno website, click “Apply Now,” and you’ll be good to go.

All you need is some personal information, like a mobile phone number, Social Security Number, home address, and an ID.

Once you complete your application and Juno confirms your account, you’ll be all set to start using it right away with your virtual debit cards.

You can easily fund your new account with an ACH transfer and set up a direct deposit right away.

Juno doesn’t require a credit check of any kind for new accounts, so you don’t have to worry about dings to your credit score for filling out an application.

Juno Promotions

Unfortunately, there are currently no active Juno promotions. Check out these bonus offers instead:

Bank	Bonus	Expires	Requirements
PNC Virtual Wallet®	up to $400	July 1, 2024	Direct Deposit	Learn More
Chase Chase Business Complete Checking®	$300	July 22, 2024	Min Balance Card Spend (optional)	Learn More
TD Bank Beyond Checking	$300	January 1, 2025	Direct Deposit	Learn More

Security

All Juno accounts are FDIC-insured, and its debit cards are protected against unauthorized use by a Zero Liability protection policy.

For online and account security, Juno utilizes biometric authentication and requires the use of a PIN anytime you want to make a transfer.

Customer Service

If you need some assistance with your Juno account, its online Help Center is full of FAQs and helpful tips that should serve most basic needs.

If you need to talk to someone, customer service reps are available over the phone (1-800-654-5866 from 9 am to 6 pm Pacific Time.

You can also chat with someone online, where representatives are available from 5 am to 6 pm Pacific Time.

Customer Reviews

As a newer banking option, Juno seems to be off to a great start when it comes to supporting its customers — early reviews of its service have rewarded Juno with an impressive 4.0-star (out of 5) rating on Trustpilot.

5-star review:

I absolutely love this app for all its features. You can have a regular checking account, debit card, and purchase crypto easily and quickly with low fees. I am sharing this one with all my friends!

4-star review:

The only problem I have is getting locked out of my own account and not being able to utilize my funds when needed, but the customer service is phenomenal they have definitely gone above and beyond to get me back into my account after being locked out…even extending a line of provisional credit.

3-star review:

The one and the ONLY reason I am giving Juno 3 stars is because I have now had 3 different simple transactions that got stuck pending for several days. I contacted support, and they proceeded to tell me to not worry about it my money is safe, and that XLM is currently having some issues that are being fixed, even though at the same time, I sent different XLM transactions from 2 other wallets with no issues what so ever. Pretty disappointing because this would be a 5-star review all the way if it wasn’t for this.

Pros & Cons

Just as with anything in life, Juno has some great pros but it also has some cons, lets cover those now:

Alternatives to Juno

If you like the idea of banking with a fintech company like Juno but want to know what else is out there, you have plenty of options.

Neobanks like Chime, Revolut, and Aspiration all provide sleek, high-yield online banking options that are worth a look.

For those looking for a bank that’s a bit more established but still comes with modern digital banking tools, you should take a look at Ally, CIT Bank, or Axos.

These online banks all have a long history of providing high-performing online accounts.

Frequently Asked Questions

Is Juno legit?

Yes. Juno (previously known as OnJuno) is a newer banking option, but this doesn’t mean that its bank accounts aren’t legitimate. It’s one of a whole host of companies that have recently entered the online banking space.

Neobanks like Juno might feel risky to those who are used to traditional banks but rest assured that these modern platforms are safe.

What bank is Juno with?

Juno partners with Evolve Bank and Trust, which is a member-FDIC financial institution based out of Arkansas.

Is Juno safe?

Yes. Between FDIC insurance and bank-level online security, Juno is a safe banking option.

If you have specific concerns, you can always reference Juno’s online help center or reach out to customer support. But on the surface, Juno has its bases covered to provide a secure platform for its customers.

Is Juno Right For You?

If you’re looking for an easy-to-use digital banking solution, Juno is an attractive option.

The online banking industry as a whole has become synonymous with high-yield accounts, and yet Juno still manages to stand out with a bonus rate that comes in at more than 20x the national average. Couple this with cashback rewards that rival plenty of credit cards, and you have an account that can net you some nice long-term benefits.

Juno’s drawbacks mostly stem from its relative newness and limitations of the platform. Traditional banking customers might feel like there isn’t quite enough here. With some features still in development, those who aren’t comfortable trying a still-developing platform might want to look elsewhere or wait until the bank becomes more established.

Still, Juno is an interesting newcomer to watch. Now that you know what you stand to gain, you should have a better idea of whether or not a Juno account is the best fit for you and your financial goals.