Juno review: Digital high-yield checking account with cash back rewards

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Pros and cons

For online bankers especially, Juno Basic Checking Account is one of the best high-yield checking accounts right now.

Checking

OnJuno Basic Checking Account is a solid high-yield checking account. There's no minimum opening deposit or monthly maintenance fees. You'll earn 5.00% APY on balances up to $25,000 with the basic checking account. Juno also has a long list of companies you can earn cash back with. Choose five, and you'll earn 5% cash back on up to $500 of spending with those businesses each year.

OnJuno Metal Checking Account is like the Basic account, but with a few more perks. You'll receive cash back on up to $6,000 of spending per year, and receive more refunds for any out-of-network ATM fees.

The downside is that OnJuno Metal Checking Account requires that you maintain a qualifying direct deposit of $250 or more per month to stay with the metal account status.

How Juno works

Juno is a digital banking platform that was previously known as OnJuno. Existing Juno customers will still have the same account and services. The only thing that is changing is the company's name.

Juno has two types of checking accounts. OnJuno Basic Checking Account is its free version, and OnJuno Metal Checking Account is its premium version that you must maintain a qualifying direct deposit of $250 per month for.

Juno does not provide joint checking accounts.

The website specifies that Juno makes it easy for immigrants to qualify. All you need to open an account is a Social Security number and passport.

With Juno, you can earn 5% cash back on cash purchases or crypto purchases on up to $500 with the OnJuno Basic Checking Account, and on up to $6,000 with the OnJuno Metal Checking Account. You may also earn up to 3% annually on USDC and 6% annually on BTC and ETH in your Juno Wallet.

You can use 85,000 Allpoint and MoneyPass ATMs nationwide for free. Juno doesn't charge you for using an out-of-network ATM, but the ATM provider might. In this case, Juno refunds one fee per month on a Basic account and three per month for a Metal account.

There are no overdraft fees, but you also don't have the option to overdraw. If a purchase would overdraw your account, Juno denies the transaction.

Call customer support Monday through Friday, 9 a.m. to 6 p.m. PT. Or chat online seven days per week, 5:00 a.m. to 6:00 p.m. PT. A customer service agent told Insider the company tries to have someone online 24/7, so you can still chat online outside of regular hours. The response time just may not be as fast.

Your deposits are FDIC insured for up to $250,000 through Juno's partner bank, Evolve Bank & Trust.

Juno trustworthiness and BBB rating

The Better Business Bureau gives Juno's partner bank, Evolve Bank & Trust, an A+ rating. The BBB measures trustworthiness by assessing a company's responses to customer complaints, honesty in advertising, and transparency about business practices.

Neither Evolve Bank & Trust nor Juno have any recent public scandals. Between the clear history and strong BBB rating, you may decide you feel comfortable banking with Juno.

Juno review vs. Cheese review

Juno and Cheese both offer high-yield checking accounts. Both companies make it easy for immigrants to sign up. Cheese is specifically for immigrants and Asian Americans; it donates money to Asian American nonprofits and offers cash back at certain Asian American-owned businesses.

Cheese's rate is comparable with Juno's lower-tier rate. But you'll probably still earn more interest with Juno, thanks to its higher rate on lower balances.

Cheese's cash back rewards are stronger, though. It lets you earn up to 10% cash back with numerous retailers on an unlimited amount of purchases. Meanwhile, Juno pays you 5% cash back on a limited amount of purchases, and you can only choose five companies to earn rewards with.

So your choice between the two could come down to which would benefit you more — a high interest rate or cash back.

Juno review vs. Porte Review

You may prefer Porte if you want to open both a checking and savings account. Porte doesn't pay interest on checking balances, but it does pay Porte Savings Account Annual Percentage Yield (APY) on savings.

Porte offers good cash back perks, but the offers change every 30 to 45 days. If you want to know what you're getting ahead of time, you may want to go with Juno.

Porte is a good option if you want to support a charity, though. Select to help the Humane Society of the United States, Save the Children, or GLAAD (an LGTBQ+ advocacy group). Supporting a charity won't cost you anything. Porte matches 0.05% of every purchase you make and gives that money to the organization. You can track how much has gone to the cause in your app.