Posted by William Charles on March 23, 2020
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Published on March 23rd, 2020 | by William Charles

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Juno Bank – Earn 2.15% APY Guaranteed For 2020 (First 1,000 That Pre Register)

Update: Looks like the 2.15% rate is guaranteed through 2020 and a maximum of $20,000. Those seem to be new restrictions that have since been added. Not a good start for Juno.

Juno Bank is a new digital bank that is yet to launch but plans to offer 2.15% APY for the first 1,000 people that pre register (looks like you need to link a bank account to be pre registered). This rate is guaranteed for the first year and backed by FDIC insurance.

Juno Bank is also advertising that they will offer 5% cash back on five brands you love (up to $3,000 in spend per year) and lists companies such as:

  • Amazon
  • Uber
  • Netflix
  • Costco
  • Airbnb
  • Disney+
  • Starbucks
  • Lyft
  • Dunkin Donuts
  • Uber

They plan to launch in May, but I’d be shocked if that wasn’t pushed back due to coronavirus. They also have a referral program where you can earn $25 per person that signs up, the person being referred also receives $25 (please do not share your referrals in the comments). They have raised $3 million to date. I don’t think 2.15% APY and 5% on specific merchants is sustainable long term, but I certainly won’t say no to VC money in the mean time.

Hat tip to reader David, you can use his referral link here

 



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Law
Law

#2894 on the waitlist..

Gadget 🕵️ Bank Bonus Geek

You can link an account via Plaid to get off the waitlist.

Matt
Matt

Oh yeah; I signed up for this a week or so ago just in case it’s as cool as it sounds. I spoke to one of the people behind working on this during the process and it turns out they’re apparently planning to waive transferwise forex fees as well. I have no idea how the economics work out on this but whatever.

[removed]

James
James

Can anyone confirm the Transferwise forex fee waiver? Would make this a whole lot more appealing to me!

John

Literally none of these things will happen

-Guy who’s been waiting for several of these things

tribesman55
tribesman55

Just signed up and it said I’m one of the lucky 1,000

GoodCow
GoodCow

same here. it says i’m off the waitlist!!! (This is as of 7:52pm PT)

z-nut
z-nut

Got <1000 priority access at 10:32 pm EST. I linked my primary checking account, so that might be a factor.

John

Signed up, gave them a spare empty bank account for registration. 5% on Amazon ain’t going to happen but whatever

Ben
Ben

Why wouldn’t 5% on Amazon happen? Several credit cards offer it, and they aren’t paying for that with interchange fees.

Lrdx
Lrdx

The 5% is limited to $3k/year..

Michael
Michael

It seems if you link an account, you can jump ahead of the waitlist and be apart of the 1000. Wonder if this is actually limited to 1000 people though. It said I was like 750 something.

Steve

I signed up using David’s link. It says “You will both get $25 credited after the first deposit in Juno”, but we need to wait for them to go live before we can make a deposit.

I connected a checking account (using login via Plaid); that might be necessary to get in the “first 1000” users.

Alex
Alex

They require you to link a bank account in order to join the waitlist

Gadget 🕵️ Bank Bonus Geek

Technically, linking an external bank account gets you off the waitlist. The e-mail you get once you do the linking says:

“Welcome to Juno Priority Access.
You’d be one of the first to:
Unlock access to Juno Checking Account on Day 1 of our launch
Be part of an exclusive club 1000 people who access Juno
Get Early-Stage product updates and be part of the Product building process”

Steven
Steven

I signed up and I was able to get in the first 1000 by linking my checking account information. There are not many spots left.

Gadget 🕵️ Bank Bonus Geek

Nowhere I could find what number I was, other than being in the 1K club… so how do you know how many spots are left?

Ryan Goldstein

Open an incognito window and go to: https://bankonjuno.com/

As I write this, the banner at the top of the page indicates that there are 549 spots left.

Gadget 🕵️ Bank Bonus Geek

I see. 521. Nice.

SDubbs
SDubbs

Just signed up when it was around ~220 and got in.

VDESH
VDESH

Is this # game real? when I signed up they said 440+ something, it is 8:30 CST on 24th March

Gadget 🕵️ Bank Bonus Geek

Guessing the counter is fake, broken, or reset daily. “Only 721 Spots left.” LOL – not a good sign.

Superman
Superman

“Priority access for first 2000 users”

Gadget 🕵️ Bank Bonus Geek

hmmm… and next week, when they pass 2K, first 3000 users?

Superman
Superman

Now you’re thinking like a digital marketing strategist!

Gadget 🕵️ Bank Bonus Geek

Yeah, supplies are limited, call now. (said in every infomercial ever)

Penny
Penny

strange, they use plaid but Heritage Bank isn’t there…

Fred
Fred

Heritage Bank N.A. is there but it wouldn’t work properly. I had to use a different bank.

benji
benji

Signed up via David’s link. Connected a bank account. I’m in the 1K club.

Ferris
Ferris

Even startups don’t have enough cash to lose 2% ROA per year (2.15% vs 0.25% from Fed overnight) to retain members. Even with just $100M in deposits, they’ll blow through 2M in a year, not to mention all the other startup costs.

John

Make it up in volume

Ferris
Ferris

Err…it doesn’t work like that. It reminds me of an Office episode.

Accountant: At these prices, the more paper you sell, the more money you’ll lose
Michael: Our prices are the only thing keeping us in business.
Accountant: They’re actually putting you out of business.
Michael: Okay, okay. Hold on, hold on. Ty, I would like you to crunch those numbers again.
Accountant: It’s a program. There’s no such thing–
Michael: Just crunch ’em. Just crunch ’em please.
Accountant: [presses key on computer] Crunch.
Pam: Did it help?

Lrdx
Lrdx

It’s for just 1000 people. I kind of doubt their average deposit will be $100000…

Eric
Eric

They told me $20K is the limit via chat.

Slickdealer
Slickdealer

You should really say BOTH will get $25 if you use the referral. Gives people a reason to use the referral.

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