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Juno

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Konstantin Tochonyi - CEO Finanso®
Konstantin Tochonyi - CEO Finanso®

Finanso believes everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. 

The exclusive right to Juno trademarks of third parties, including financial organizations, depicted on Finanso® belongs to their copyright holders in accordance with publications in the open registers of authorized bodies. Trademarks of third parties depicted on finanso.com, are indicated for informational purposes only.

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About company

Juno, a financial technology company operating in the United States, offers a digital banking platform designed to provide users with seamless financial experiences. Founded with a mission to enhance banking accessibility and efficiency, Juno aims to streamline financial transactions and empower individuals to manage their funds. Positioned as a digital banking alternative, Juno offers a range of services, including cash accounts, cryptocurrency transactions, and bill payments, catering to diverse financial needs.

Through its platform, Juno enables users to access various financial tools, from setting up direct deposits to automating bill payments, all while prioritizing security measures such as mandatory two-factor authentication. Additionally, Juno facilitates instant onboarding to multiple cryptocurrency chains, allowing users to swiftly convert between cash and digital assets. Backed by a network of reputable investors and partnered with regulated financial institutions, Juno strives to provide a reliable and user-friendly banking experience to its members across the United States.

Juno

Key features

  • Instant Onboarding. Juno offers a fast and hassle-free sign-up process, allowing users to quickly access its digital banking platform.
  • Seamless Cash-to-Crypto Conversion. Users can easily convert cash to various cryptocurrencies without any holding period on withdrawals, providing flexibility in managing digital assets.
  • Recurring Direct Deposits. Users can set up recurring direct deposits and automate bill payments, enhancing convenience in managing finances.

Pros and cons

Pros

Multiple Transfer Methods. Juno supports various transfer methods, including ACH, wire transfers, Cash App, Apple Cash, and more, making it easy to send and receive money.

Instant Withdrawals. Unlike traditional banking platforms, Juno allows users to withdraw crypto to their self-custody wallets instantly, without any holding period.

Free Cash Deposits. Juno enables users to add cash to their accounts for free using methods such as ACH and wire transfers.

Cons

Limited Cryptocurrency Options. While Juno supports multiple cryptocurrencies, the range of available options may be more limited compared to specialized cryptocurrency exchanges.

Withdrawal Fees. Users may incur nominal fees when withdrawing certain cryptocurrencies to external wallets, in addition to network fees, which could affect overall transaction costs.

Account Inactivity Fee. Juno introduces a semi-annual inactivity fee for dormant accounts, potentially impacting users who do not frequently engage with the platform.

Reliability

Juno's reliability is bolstered by its partnerships with reputable institutions such as Evolve Bank & Trust, Member FDIC, and Synapse Financial Technologies, Inc. These partnerships lend credibility to Juno's offerings, providing users with FDIC insurance coverage for their USD deposits up to $250,000 and ensuring compliance with regulatory standards. Additionally, Juno's transparent fee structure, mandatory two-factor authentication, and real-time chat support contribute to a sense of trust and reliability among its user base.

With 3.9 stars and 895 ratings on the App Store, and 3.6 stars with 1.07K reviews on Google Play, Juno has garnered mixed but generally positive feedback from users. While these ratings suggest a level of satisfaction among some users, it's important to recognize that individual experiences may vary. Factors such as user expectations, technical issues, and personal preferences can influence perceptions of reliability.

Products

  • Juno Debit Card. Juno provides users with a physical debit card linked to their Cash Account, allowing for convenient spending and ATM withdrawals. This card can be used at various merchants and ATMs that accept Mastercard, providing flexibility and accessibility for users to access their funds.
  • Metal Card (Replacement). Juno offers a metal card replacement option for users who prefer a more durable and stylish debit card. This metal card provides a premium feel and aesthetic appeal, serving as an alternative to the standard plastic debit card offered by Juno.

Other services Juno offers

  • Cryptocurrency Services. Juno facilitates the buying, selling, and holding of various cryptocurrencies, allowing users to easily engage in crypto transactions within the platform. Users can convert between cash and cryptocurrencies seamlessly, with instant withdrawals available for self-custody wallets.
  • Digital Asset Services. Through a partnership with Zero Hash, Juno provides digital asset services, enabling users to access a wide range of cryptocurrencies and participate in the digital asset market.
  • Cash Account. The Juno Cash Account serves as a digital banking account, providing users with a convenient way to manage their funds. This account offers features such as direct deposits, bill payments, and access to a physical debit card for spending.

Conditions and requirements

Conditions

  • No Minimum Balance Requirement. Juno does not impose a minimum balance requirement for its Cash Account, allowing users to maintain their accounts without the need to meet specific balance thresholds.
  • FDIC Insurance Coverage. Funds deposited into Juno's Cash Account, facilitated by Evolve Bank & Trust, Member FDIC, are covered by FDIC insurance up to $250,000, providing protection against bank insolvency.
  • Transparent Fee Structure. Juno maintains a transparent fee structure, clearly outlining transaction fees for various services such as funding via debit card, crypto transactions, and account inactivity. Users are informed of applicable fees upfront.
  • Instant Onboarding. Juno offers instant onboarding, allowing users to quickly sign up for its digital banking platform and access its range of financial services without delay.
  • Real-time Chat Support. Juno provides real-time human chat support for immediate assistance, ensuring that users can receive help promptly whenever they encounter issues or have inquiries.
  • Seamless Cash-to-Crypto Conversion. Users can easily convert cash to cryptocurrencies within Juno's platform without any holding period on withdrawals, providing flexibility in managing digital assets.

Requirements

  • Identity Verification. Clients must undergo identity verification procedures as part of Juno's onboarding process to comply with regulatory requirements and ensure account security.
  • Compliance with Terms of Service. Clients are required to comply with Juno's Terms of Service, which outline the rules and regulations governing the use of its digital banking platform and financial services.
  • Authorization for Transactions. Clients must authorize transactions initiated through their Juno accounts to ensure that all activities conducted within the platform are authorized and legitimate.
  • Agreement to Fee Structure. Clients must agree to Juno's fee structure, which includes transaction fees for various services such as funding via debit card, crypto transactions, and account inactivity.
  • Understanding of Risks. Clients should have an understanding of the risks associated with digital asset transactions, including price volatility and potential loss of funds, when engaging in cryptocurrency activities through Juno's platform.

Network of ATMs

Juno does not operate a network of ATMs directly. However, through its partnership with Evolve Bank & Trust, Juno provides access to a wide network of ATMs across the United States. Users can utilize their Juno debit cards to withdraw cash from any ATM within the network, offering convenience and accessibility for accessing funds. Additionally, Juno may provide features or partnerships in the future that enhance ATM access for its users, ensuring that they have convenient options for cash withdrawals whenever needed.

Apps like Juno

  • Nexo. Offering daily interest on stablecoins and cryptocurrencies, Nexo stands out with its crypto credit line, allowing instant borrowing and collateralization of digital assets. With top-notch security measures and insurance on custodial assets, Nexo ensures maximum asset protection while providing 24/7 assistance for peace of mind.
  • YouHodler. Positioned as the future of crypto banking, YouHodler enables users to buy, sell, exchange cryptocurrency, earn interest, and make crypto loans. With options to diversify investments and capitalize on market changes, YouHodler offers flexibility and profitability. Crypto loans allow users to leverage their digital currency as collateral, accessing up to 90% of its value.
  • Nebeus. Serving as a comprehensive cryptocurrency ecosystem integrated with financial services, Nebeus offers Money Accounts akin to traditional banking, complete with dedicated IBANs and Sort Code Accounts. Additionally, Nebeus provides Crypto Accounts for digital wallet management, exchange services, crypto staking, crypto-backed loans, and free cold wallet storage, catering to crypto hodlers' financial needs.
  • Wirex. With Wirex, users enjoy the freedom to manage their money on a single payment platform, allowing storage, exchange, and spending of cryptocurrencies anytime, anywhere. The Wirex Visa card facilitates seamless conversion between digital and traditional currencies at point-of-sale, enabling users to spend crypto and multiple currencies globally wherever Visa is accepted.

Editorial opinion

The platform's emphasis on security measures, including mandatory two-factor authentication and FDIC insurance coverage for USD deposits, adds credibility to its offerings. However, the absence of joint accounts and limited cryptocurrency options may pose challenges for certain users seeking more diversified banking solutions. Overall, Juno presents itself as a promising contender in the digital banking landscape, with opportunities for further development and expansion to meet the evolving needs of its clientele.

Additional Resources

  • Juno Reviews

Sources

FAQ

Is Juno legitimate?

Juno operates as a legitimate financial technology company offering digital banking services rather than a traditional bank. It provides users with access to a range of financial tools and features, including cash accounts, cryptocurrency services, and real-time chat support. Backed by regulated partners and transparent fee structures, Juno aims to provide a credible and secure platform for managing finances. However, it's important for users to conduct their due diligence and review Juno's terms and conditions before engaging with its services.

Is Juno a real bank?

While Juno is not a traditional bank in the conventional sense, it partners with Evolve Bank & Trust to facilitate certain banking services such as FDIC-insured Cash Accounts. These accounts offer users the ability to deposit cash, set up direct deposits, and make bill payments, functioning similarly to accounts offered by traditional banks. However, it's essential to note that Juno's offerings may differ from those of traditional banks, and users should review Juno's terms and conditions to understand the specifics of its banking services.

Can I deposit cash into Juno?

Yes, you can deposit cash into Juno through various methods such as ACH transfers and wire transfers. Juno allows users to add cash to their accounts for free using these deposit methods, providing flexibility in funding their accounts. Additionally, users can set up recurring direct deposits and automate bill payments, enhancing the convenience of managing their finances through Juno's platform. However, users should review Juno's deposit policies and any associated fees before initiating cash deposits to ensure they understand the terms and conditions.

Does Juno give you money?

Juno does not give money to users in the form of free funds or cash incentives. However, Juno provides financial services such as cash accounts and cryptocurrency transactions that allow users to manage their funds more efficiently. Through its digital banking platform, users can deposit cash, set up direct deposits, automate bill payments, and access various financial tools and features. While Juno does not offer monetary rewards directly, it aims to empower users to make informed financial decisions and enhance their overall banking experience through its services.

What kind of accounts can you open with Juno?

With Juno, users can open various types of accounts tailored to their financial needs. The primary account offered by Juno is the Cash Account, which serves as a digital banking account for managing funds. This account provides features such as direct deposits, bill payments, and access to a physical debit card for spending. Additionally, Juno facilitates cryptocurrency services, allowing users to buy, sell, and hold various cryptocurrencies within the platform. While the specific types of accounts may vary based on individual preferences and financial goals, Juno's offerings are designed to provide users with flexible and convenient banking solutions tailored to their needs.

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Update 20.06.2024

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