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Juno Review: Fees, Card, Usability, and Monito's Verdict

Byron Mühlberg, writer at Monito.com
Aug 15, 2022
Affiliate disclosure

Juno (formerly OnJuno) offers a good checking account and debit card (7.9/10). At Monito, our experts recommend the neobank, especially for its exceedingly low fees (10/10), its well-designed web platform and good quality of service (7.6/10), as well as its secure and trustworthy product (7.5/10) that's backed by a major US bank. However, Juno falls short in that it has received few customer reviews so far (6.4/10), due primarily to the fact that it's still a relatively young company.

What Monito Likes About Juno

  • Lucrative cashback on payments;
  • Banking services by Evolve Bank and Trust, Members FDIC;
  • Good-looking black metal debit card;
  • Very cheap international transfers with Wise;
  • Reimburses third-party ATM fees up to three times per month;
  • Low costs and transparent pricing.

What Monito Dislikes About Juno

  • Loans, overdrafts, or credit cards aren't offered;
  • Few customer reviews to date.
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Monito's Recommendation

In our opinion, Juno is a very interesting online checking account and card product that we think is excellent for travellers, digital nomads, online spenders, and people whose families live in other countries. However, because it's a young company with exposure to crypto-related securities, we don't think it's the ideal option as a primary banking account, even if it would be functional for this purpose.

Where Is Juno Available?

Juno is available to anybody 18 years or older with a valid residence in the US, regardless of their nationality.

How Monito Reviewed Juno's Services

As with all services reviewed by Monito, Juno underwent a rigorous evaluation to assess the quality of its service. To begin with, our experts analysed several key criteria, including customer reviews, the percentage cost of various transaction types, top-up options, access to customer service, as well as business and legal metrics such as revenue, appropriate authorisation, and company size. As with all Monito Scores, Juno's score was peer-reviewed by at least one Monito expert.

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Trust & Credibility

7.7

Background check

Accounts by Evolve Bank & Trust, Member FDIC.

Security & reliability

Segregated user accounts and HTTPS. Debit cards are 3-D Secure.

Company size

Young company founded in 2019 with an estimated 50,000 users.

Transparent pricing

The fee overview is understandable, transparent, and user-friendly.

Is Juno Safe?

The short answer is an unequivocal yes.—

Using Juno, you'll have access to a checking account, a virtual debit card and (optionally) a physical black debit card — all of which are functionally on par with those offered by registered US banks.

Although still a relatively small company in comparison to many other US digital banking solutions, Junois indeed a safe and secure checking account option that's duly licensed and regulated in the US, with FDIC-insured deposits of up to $250,000 per user through Juno's banking partner Evolve Bank & Trust, Member FDIC.

In addition, Juno also offers Zero Liability Protection through its partnership with Mastercard, which issues Juno cards via Evolve Bank & Trust. What's more, here's how Juno summarizes its privacy policy:

We have cutting edge data security and promise to never sell your data.

As far as you as the customer is concerned, all of this means is that you'll be fully protected on all fronts; with up to $250,000 in deposits guaranteed to be paid back to you in the event that Juno faces financial difficulty, as well as secure protection against any unauthorized transactions that take place using your card in the event of theft or fraud.

warning icon

Risk is present in the trading of cryptocurrencies. Users who make use of Juno's trading platform should be aware that cryptocurrencies are a highly volatile speculative security that can result in the loss of capital.

Service & Quality

7.6

Using the mobile app

Slick mobile app packed with interesting features.

Managing the account

Basic but capable checking account, although lacking interest, overdraft, and joint account functionality.

Contacting support

Call center support and live chat are available, although not 24/7.

Making card payments

Contactless payments, online payments, Apple Pay, and Google Pay are supported.

How Good Are Juno's Account and Card?

Juno is an interesting product that stands out from the rest by blending digital checking with crypto and cashback. The result is a compact but capable solution suitable for many use cases. However, in our assessment, Juno is still too new a product with too risky a market placement for us to feel comfortable recommending it as a primary banking solution at this point.

In a nutshell, Juno's product is powered by its web app (its mobile app is still in beta as of December 2021) and centers around three major selling points: a checking account, debit card, and a cashback program. We go through each of them below:

1 — Juno Checking Account

Juno's checking account comes in two types: 'Basic Checking' and 'Metal Checking'. Both are free of monthly fees, and both are fully-fledged checking accounts held in deposit by Evolve Bank & Trust. This means that the accounts are functionally the same as checking accounts at traditional banks but for a fraction of the price.

Regardless of whether you choose 'Basic Checking' or 'Metal Checking,' your Juno account will offer you the following:

  • Deposit processing: Top-up money into your bank account.
  • Withdrawals: Withdraw cash at ATMs.
  • Direct debits: Set up recurring ACH transfers where money is automatically deducted from (or deposited into) your account.
  • Debit card: Use a virtual or physical debit card to make cashless payments and withdraw money (more on this later).
  • Bank wires: Send and receive domestic wires and receive international wires. (Wise powers outward international payments.)
  • Yearly bonuses: A 1.20% annual bonus rate*.
  • Crypto wallet: Optionally trade BTC, ETH, and USDC separately from your checking account using funds from your balance.

When using Juno, this means you'll be able to take advantage of all the core features of a standard bank account, making it an excellent banking alternative. However, one major drawback of Juno's checking account is that it can also be restrictive for those looking for more extensive banking services such as mortgages, personal loans, overdraft, or joint accounts.

The 'Basic Checking' and 'Metal Checking' accounts differ not so much in their core structure but rather in the commitment requirement and benefits. For example, 'Metal Checking' allows you to get a black metal debit card (as opposed to only virtual cards), higher maximum cashback limits, and more free out-of-network ATM withdrawals in exchange for setting up $500 in monthly direct debit deposits.

2 — Juno Debit Cards

Just as Juno's checking accounts come in the 'Basic Checking' and 'Metal Checking' tiers, its debit cards either come in virtual or physical metal versions depending on which of the two tiers you choose. Both are Mastercard debit cards that support online payments and contactless point-of-sale payments and cash withdrawals through Google Pay, Apple Pay, and Samsung Pay.

Similarly, all of Juno's cards use Mastercard's exchange rate surcharge for all foreign currency transactions and charge no currency conversion fees of their own (a major perk — especially if you're frequently abroad or spending online in a currency other than the dollar).

In short, Juno's virtual debit cards are just as capable as physical metal ones for all intents and purposes. However, you may naturally prefer to use a physical card for point-of-sale payments and ATM withdrawals or you simply prefer the feeling of a sturdy metal card in your pocket!

3 — Juno Cashback

Although its fee-free account and card are indeed interesting, Juno's cashback is arguably the offering that stands out the most. The standard cashback on purchases is 5% up to $500 per year on the 'Basic Checking' plan and up to a significantly higher $3,000 per year on 'Metal Checking'.

However, because this is equivalent to a maximum reward value of $25 per year on the former plan and $150 on the latter, the material cashback is decent, but not great, and better deals can be found elsewhere. Furthermore, the cashback program only applies to purchases made at five individual brands of your choosing (including most major names such as Amazon, Walmart, Netflix, Target, Starbucks, Uber, Spotify, and many others). Depending on your personal spending habits, you may not find this much of a restriction, but it could certainly be quite limiting for some.

* On balances up to $5,000 for 'Basic Checking' and $50,000 for 'Metal Checking'

Fees & Exchange Rates

10

Everyday use

No monthly fees or costs whatsoever for everyday payments.

ATM withdrawals

ATM withdrawals in USD are free. The Mastercard exchange rate is used for foreign currency withdrawals.

Online spending

No fees for online payments, though Mastercard's rate will be used for foreign currency payments.

International spending

Payments abroad are free (only the Mastercard exchange rate is used).

What Are Juno's Fees and Exchange Rates?

At the end of the day, Juno is a very cheap digital banking option, charging practically no fees for day-to-day use. As such, you can expect to pay no fees for monthly account management, ACH transfers, cash withdrawals, and bill payments. Furthermore, there's no minimum initial deposit or minimum average monthly account balance needed to keep things up and running.

However, while cheap, Juno is not entirely free. If you happen to make an ACH, wire or RDC transfer that gets rejected and needs to be returned to your account balance, you'll be met with a $5 rejected transfer fee. Besides that — you'll pay no fees at all.

When using your card (both physical and virtual) in a foreign currency, you will be charged a very small exchange rate margin by Mastercard, but this is usually a negligible cost (i.e. 0.1% to 0.4%) and one that's not charged by Juno itself.

Furthermore, when it comes to making international money transfers, you'll be able to take advantage of Juno's integration with Wise's money transfer platform to transfer money abroad at around 0.3% to 1.8% above the mid-market rate, making it one of the cheapest ways to move money across borders.

Finally, one of the biggest perks of Juno is that it reimburses all ATM withdrawal charges levied by in-network ATMs (which include Allpoint and Moneypass machines) for up to three withdrawals per month for 'Metal' users and one withdrawal for 'Basic' users. This is usually an exclusive offer found only on premium card products, and therefore we find the fact that it's available for free to be a major feather in Juno's cap!

Customer Satisfaction

6.4

Customer review score

Good ratings on Trustpilot, the App Store and the Play Store with an average of 4.4 out of 5 stars.

Number of positive reviews

Fewer than 500 combined four- and five-star reviews.

What Experiences Have Juno Customers Had?

Juno has mainly received positive feedback from its users so far. As of December 2021, the digital bank received an average of 4.4 out of 5 stars on the review platforms Trustpilot, Google Play, and the App Store, with many users praising the cashback and the metal card in particular.

On the other hand, Juno didn't score higher in this section because the absolute number of reviews is still very low (fewer than 500) despite earning good reviews on average. Therefore, the platform remains to some degree 'untested'.

How Does Juno Compare?

To get a better idea of how Juno's pricing compares to those of other providers for managing a checking account and processing everyday spending, take a look at the table below, which compares Juno with Sable and Chime® (two other digital finance alternatives), as well as Bank of America (one of the US's most prominent banks):

Juno

Sable

Chime

Bank of America

Account Name

OnJuno

Sable

Chime

Advantage Plus

Monthly Fees

$0.00

$0.00

$0.00

$12.00

Minimum Deposit

$0.00

$0.00

$0.00

$100.00

Overdraft Fees

$0.00

$0.00

$0.00¹

$35.00

Outgoing Domestic Wire Fees

$0.00

$5.00

-

$30

Currency Conversion

0.00%

0.18%

0.00%

3.00%

Try OnJunoTry SableTry ChimeTry BoA

Last updated: 10/12/2021

FAQ About Juno

Chime Disclaimer

¹ Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

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