Jenius Bank Unveils New Savings Account Product, Fueling More Positive Financial Futures

Jenius Bank™, the digital division of Manufacturers Bank, a California state-chartered commercial bank that is a wholly-owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced the launch of its latest offering – the Jenius Bank Savings Account. This new product, which comes to market following the recent launch of Jenius Bank Personal Loans, is designed to empower customers to achieve their financial goals with greater ease and flexibility.

According to the Wall Street Journal, Americans are missing out on billions they could be earning with a better rate. With such an overwhelming consumer gap, Jenius Bank used its extensive and ongoing consumer research program to understand what a new savings product could do to help advance consumers’ financial and life goals and reduce stress. As a result, Jenius Bank is offering a market-leading rate, ensuring that customers’ hard-earned money grows at an accelerated pace.

Key features of the Savings Account, in addition to the market-leading rate, include:

• No Minimum Balance Requirement: Customers can grow their savings on their terms. Accounts can be opened with as little or as much as they want.
• FDIC Insured Funds: To prioritize the safety and security of customer funds, deposits are FDIC insured up to the maximum allowable by law. Deposits at Jenius Bank and Manufacturers Bank are combined for the purpose of calculating FDIC insurance limits.
• Around-the-Clock Customer Service: Jenius Bank’s customer service is 100% digital for those who prefer it, and 100% human when customers want it, providing 24/7 access to U.S based customer care, by phone or online chat.
• No fees: Unlike other banks, savings accounts through Jenius Bank will not have any fees. No monthly, withdrawal, inactivity, overdraft, account opening or closing, or excessive transaction fees, enabling customers to save even more.
• Continuous Fraud Monitoring: Customers can rest easy knowing that Jenius Bank monitors against fraud day and night, all year.

“Jenius Bank’s goal isn’t to create just another savings account option. We wanted to put something in-market that truly addressed the top needs of consumers in today’s climate,” said John Rosenfeld, President of Jenius Bank. “We’ll continue to take this approach in developing the rest of our product suite as a further commitment to giving our customers the tools they need to empower themselves with smarter banking to create a richer life for themselves.”

This launch comes just months after the Bank’s inaugural launch of personal loans, demonstrating the rapid growth the new digital bank is experiencing. The Bank Savings Account is available to both existing and new customers, and they can open an account here.

“We’re committed to crafting all of our products with great consideration for the insights we receive from our consumer research, and this savings launch is no exception,” says Andrew Harris, Managing Director and Head of Product at Jenius Bank. “From the early days of development, we understood the need for competitive rates and flexibility needed in a savings account, and will continue to prioritize our consumer insights to inspire features for future rollouts.”

To learn more about Jenius Bank Savings and Personal Loan options, please click here