OnJuno Review

onjuno card

With so many up-and-coming digital banks, it can be hard to make a decision on which one to choose. Today, we’re reviewing the OnJuno digital checking account. Here’s a quick overview of what we thought about OnJuno:

OnJuno is a digital banking platform, that is FDIC-backed and offers an annual percentage yield of 2.15% on balances of up to $30,000 and 5% cash back on up to $3,000 a year. OnJuno doesn’t have an app yet but it supports Apple, Google, and Samsung Pay. Its premium version that lands you a black metal debit card is free for up to 6 months, after that it’s $9,99 per month. 

From our experience, OnJuno is a great neobanking platform that offers great APY, no minimum opening deposit, no monthly service fees, and an instant virtual card or a cool black metal card. It’s great for anyone that wants to earn high-interests on their account without tying up their money in a savings account.

You can apply for a free OnJuno Metal account here.

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OnJuno Features

  • APY of 2.15% on balances of up to $30,000
  • 5% cash back on up to $3,000 a year
  • 85,000 free ATM’s across the nation
  • Instant virtual or black metal card
  • Up to 3 free withdrawals per month on out of network ATMs
  • FDIC insured for up to $250,000 through Evolve Bank & Trust
  • Interest compounded monthly and paid monthly

Pros & Cons


  • Connects with all the major fintech apps like Acorns, Venmo, Robinhood, Coinbase…
  • High APY
  • Earns you cashback
  • No overdraft fees
  • No monthly service fees
  • No minimum deposit
  • FDIC insured
  • Withdraw money anytime
  • Easy for immigrants to qualify


  • Can’t overdraw funds
  • No joint accounts
  • 2.15% interest rate is only guaranteed till April 2021
  • Interest compounded monthly, not daily
  • No app (April 21)

As you can see the OnJuno platform has many things going for it. We definitely like the high annual percentage yield of up to 2.15% coupled with the fact that you can withdraw your money anytime.

There are a few things that do bother us in this OnJuno review; the fact that the app is still in beta and not publicly available, that the interest isn’t compounded daily as some other digital banks offer, and that you can’t overdraw funds.

One major con of all high-yield savings or checking accounts is that, unfortunately, interest rates are variable and can fluctuate at any given time. A brick and mortar bank or a mobile bank could advertise high APYs to lure you in but they could plummet at any moment. Looking at you Ally!

Let’s dig deeper and see what are the brands that offer 5% cash back, and what OnJuno’s Basic and Metal accounts have to offer.

Cash Back Merchant List

The list of brands or merchants on which you get a 5% cashback is extensive.

  • Shopping: Amazon, Target, Walmart, Best Buy, and The Home Depot.
  • Subscriptions: Netflix, HBO Go, Prime Video, Spotify, Disney Plus, and also Headspace, Calm, and Peloton.
  • Groceries and Health: Whole Foods, CVS, Trader Joe’s, Walgreens, and Patel Brothers.
  • Food and Drink: Dunkin, Starbucks, Blue Bottle, Grubhub, Uber Eats, Doordash, Postmates, Wendy’s, Taco Bell, Chick-fil-A, and In-n-out.
  • Transportation: Uber, Lyft, and Shell.
  • Travel: Airbnb.

You can choose any 5 from the list and qualify for the 5% cash back. I’m not going to lie, it’s a difficult choice to choose only five of these.

OnJuno Basic Checking Account


  • Free forever
  • No minimum deposit
  • 2.15% APY up to $5,000
  • Earn cash back
  • Instant virtual debit card
  • Apple Pay, Google Pay & Samsung Pay
  • No fee withdrawals on 85,000 Allpoint & MoneyPass® ATMs
  • 1 free out of network withdrawal per month


  • After $5,000 APY goes down to 0.25% up to $100,000
  • No APY after $100,000
  • No joint accounts
  • No physical card
  • Interest compounded monthly and not daily

The Basic OnJuno account is where you’ll end up 6 months after opening the account if you don’t opt-in to pay the $9,99 per month Metal account fee. It’s still a sweet deal, especially if the APY stays at 2.15% for a longer amount of time.

OnJuno Metal Checking Account


  • Free for 6 months
  • No minimum deposit
  • 2.15% APY up to $30,000
  • Earn cash back
  • Instant virtual debit card and a black metal card
  • Apple Pay, Google Pay & Samsung Pay
  • No fee withdrawals on 85,000 Allpoint & MoneyPass® ATMs
  • 3 free out of network withdrawals per month


  • $9,99/month after the first 6 months
  • After $30,000 APY goes down to 0.25% up to $100,000
  • No APY after $100,000
  • No joint accounts
  • Interest compounded monthly and not daily

The Basic OnJuno account already looked interesting, but the Metal account has even better perks, including a cool-looking black metal Mastercard branded debit card. which of course comes with Mastercard’s Zero Liability policy that will protect you if someone makes unauthorized transactions.

The main difference between these two digital banking accounts is the fact that APY stays at the 2,15 percent mark up to $30,000. That is a very good percentage for these kinds of accounts. There are some competitors like Porte that offer a savings account with 3% APY up to $15,000.

Nevertheless, even when APY falls down to only 0.25%, that’s still much much better than the national APY interest rate on SAVINGS accounts of meager 0.04%, according to the Federal Deposit Insurance Corporation.

The $9,99 per month fee is also lower than for instance, Revolut’s $16.99 per month Metal account fee. We’ll cover more of OnJuno’s competitors and alternatives below.

How Do I Open An Account?

Applying for an OnJuno account is easy and takes less than 5 minutes. When you open their website, enter your email address and password or use your Google account to sign up. You’ll also need to fill in your full name, mobile number, social security number, home address, and take a photo of an official document that has your picture in it, like your passport to verify your identity.

After you complete this simple process and your account is verified, you can deposit any amount you wish and have access to an instant virtual card. 

There’s no point choosing the Basic account when you sign up as the Metal account is free for 6 months and then you get downgraded to Basic by default. 

OnJuno Mission

The company states that its mission is to make banking fair and transparent. They are boasting the fact that immigrants can open an OnJuno account with just an SSN and a passport. The reason for that is probably the market that they’re targeting, namely the South Asian and the East Asian diaspora community in the States.

As the co-founder, Varun Deshpande explained to the Forbes magazine, the Asian-American community of around 20 million people has a higher average income and is risk and credit averse, making them especially suitable to avail of OnJuno’s benefits of getting a high-yield interest rate on your checking account. 

Couple that with the fact that they’re also more prone to using new technologies like mobile banking apps, doesn’t hurt their agenda as well.

Their marketing efforts have been noticed too, mainly their quirky “Make the Switch” ad, and the notion that their main influencer is the chess Grand Master Hikaru Nakamura.

Is OnJune Safe and Trustworthy?

OnJuno is a private company from India that was founded in 2019 under the legal name CapitalJ Inc. It has offices in India, Singapore, and of course in San Francisco, USA. It’s funded by world-class investors such as Brian Ma (Divvy Homes), Joseph Lubin (Ethereum), Salil Deshpande (Bain Capital Ventures), and Balaji Srinivasan (Coinbase) among others.

Another good news is that OnJuno’s partner bank, Evolve Bank & Trust has an A+ rating from the Better Business Bureau and is a BBB accredited business. The Better Business Bureau states that the bank had only 10 complaints that were closed in the last 3 years compared to almost 6,000 that Bank of America had in the same period for instance.

As we already stated, your money is insured for up to $250,000, and their debit cards are protected against unauthorized transactions by Mastercard’s Zero Liability policy.

With all this information and the fact that both OnJuno and the Evolve Bank had no recent public scandals, you can assume that OnJuno is indeed a safe and trustworthy digital banking platform.

Alternatives to OnJuno

There’s no shortage of great online digital banking platforms that operate in the US but also globally. Here are a few that, from our experience, offer great incentives and/or perks. Because it’s rather straightforward to open a mobile digital bank, we will most certainly see many more strong contenders enter this lucrative market.

A good number of these neobanks will be powered by blockchain as the major players such as JPMorgan, Citi, Wells Fargo, and others slowly enter the game. But for now, these are our OnJuno alternatives. For more reviews of digital banks, visit our website


  • Up to 3% deposit bonus
  • Up to 10% cash back at 10k+ businesses
  • Get your paycheck 2 days earlier

OnJuno is not the only mobile banking company specifically targeting Asian communities as both OnJuno and Cheese offer a high-interest checking account that makes it easy for immigrants to open. They too cater rather specifically to Asian communities, which is apparent as soon as you open their website

They’ve even gone a step further as they offer cash back if you buy in certain Asian American-owned stores and businesses. And as soon as you sign up, $10 goes to an Asian American nonprofit.

Cheese’s cash back incentives are stronger than OnJuno’s though, as they offer 10% back on an unlimited amount of purchases at an incredible 10k+ brands, stores, and restaurants. Apart from Asian American brands, there are some big brands like Chewy, Nike, Sephora, T Mobile, Walmart, and many others. 

Also, if you set up a direct deposit, you can withdraw and/or use your paycheck up to 2 days earlier. 


  • No fees
  • Get paid 2 days early
  • Savings account
  • $100 overdraft with no fees

Chime and OnJuno have almost identical-looking websites. If it weren’t for a different color palette you’d make an honest mistake and sign up with a different neobank. Are there any other similarities? 

Apart from some basic things like no minimum deposit and no fees, they are very much different. Chime has an APY of only o.50% on its savings account. Chime does have an amazing app and one thing that might interest many travelers – no foreign transaction fees. 

Read our Chime review here.


  • Mobile check deposits
  • Visa debit card
  • Get paid 2 days faster
  • Cash backs based on your spending habits

Porte is a mobile banking account that is somewhat similar to OnJuno but it offers up to 3% on its savings account and not the checking account. Its cash back system is a bit different though. It changes from time to time and is supposedly based on your existing spending habits. 

Another handy thing is that you can easily deposit your checks to the Porte account, something that OnJuno is still missing as it doesn’t have a public app yet. Boy, they should really hurry up with that already!


  • No monthly fees
  • 0.50% APY
  • Stocks and ETFs investing
  • Mortgage
  • Vehicle financing

Ally is a more complete and more mature digital banking platform. Not only does it offer high-interest checking and savings accounts, but it also does mortgages, investing in stocks and ETFs, personal loans; basically it throws everything but the kitchen sink at you. They had a great APY of 2.2% but it, unfortunately, fell down to still impressive o.50%.

You can read our Ally review here.

The Bottom Line

From our experience with OnJuno, people that are looking for a high-interest checking account that offers great incentives in terms of cash back and a free black metal card should benefit from opening an OnJuno digital banking account. Although there are plenty of alternatives on the market at the moment, OnJuno is certainly a solid choice and even an opportunity. If only their app didn’t take so long to come out. 

Recommended Digital Banking Apps
The Future of Banking
Earn 6% on Crypto
2% Cashback on Purchases at Approved Merchants

As a mobile banking app affiliate, I earn from qualifying purchases.

topmobilebanks logo


As a Current mobile banking app affiliate, I earn from qualifying purchases.
topmobilebanks logo


As a Current mobile banking app affiliate, I earn from qualifying purchases.