Jenius Bank Introduces Competitive Savings Account Amid Consumer Demand for Better Returns

American consumers are leaving substantial earnings on the table with substandard savings rates—a reality that prompted Jenius Bank, the digital banking division of Manufacturers Bank, to develop a new savings solution. The financial landscape has shifted, and customers increasingly demand better tools to grow their money without sacrificing convenience or safety.

What’s Driving the Shift

The gap between traditional banking rates and consumer expectations has never been wider. Recognizing this market opportunity, Jenius Bank leveraged extensive consumer research to design a savings product that directly addresses today’s financial priorities. The result is a comprehensive account designed to help customers achieve their goals with flexibility and confidence.

Core Features of the New Offering

Jenius Bank’s savings account arrives with several defining characteristics:

Competitive Rate Structure — The account features a rate that stands out in the current market, enabling customers’ deposits to grow at a notably faster pace than traditional alternatives.

Zero Entry Barriers — There is no minimum balance requirement, allowing customers to start saving at their own pace, whether opening with small or substantial amounts.

Comprehensive Protection — Customer funds receive FDIC insurance coverage up to legal limits. Deposits at both Jenius Bank and parent company Manufacturers Bank combine for insurance calculation purposes, providing enhanced security.

24/7 Support Without Compromise — Jenius Bank offers customer service that adapts to preference: fully digital for those who prefer technology, or human support for those seeking personal interaction. U.S.-based representatives handle inquiries around the clock through phone and online channels.

No Hidden Costs — Unlike many competing institutions, Jenius Bank eliminates fees entirely—no monthly charges, withdrawal fees, inactivity penalties, overdraft fees, account opening or closing fees, or transaction surcharges. This structural advantage means more money stays in customer accounts.

Continuous Protection Against Fraud — Dedicated monitoring systems work continuously throughout the year, providing customers with peace of mind regarding account security.

Strategic Market Positioning

This launch represents the second major product introduction from Jenius Bank, following the recent rollout of personal loan options. The rapid product expansion demonstrates the digital bank’s commitment to building a comprehensive financial toolkit.

“Our objective extends beyond creating another savings account option,” explained John Rosenfeld, President of Jenius Bank. “We’re introducing something that genuinely responds to the most pressing financial needs consumers face today. This philosophy will guide our entire product development roadmap as we continue delivering the technology and tools that help customers create better financial futures.”

Andrew Harris, Managing Director and Head of Product, added: “Consumer research shaped every decision in this product’s development. From day one, we prioritized competitive rates and genuine flexibility. These consumer insights will continue to inform every feature we introduce going forward.”

Access and Availability

Existing Jenius Bank customers can activate the savings account immediately, while new customers can establish an account through the platform. The bank plans to launch a mobile application in the coming months, further enhancing the digital-first experience.

About Jenius Bank and Its Parent Companies

Jenius Bank operates as the digital banking arm of Manufacturers Bank, a California state-chartered commercial bank and wholly-owned subsidiary of SMBC Americas Holdings, Inc., which is part of the broader SMBC Group. The institution’s mission centers on helping customers build richer lives through technology-enabled insights and innovative financial tools.

The organization maintains a distributed workforce across 39 states with regional offices in Phoenix, Los Angeles, New York, and Charlotte. Beyond savings accounts and personal loans, Jenius Bank continues developing additional financial products to serve its growing customer base.

SMBC Group, headquartered in Tokyo with four centuries of banking history, operates as a top-tier global financial institution. With 86,000+ employees across nearly 40 countries and more than 150 offices worldwide, the organization provides banking, leasing, securities, credit card, and consumer finance services. SMBC Group ranks among Japan’s three largest banking organizations, with parent company Sumitomo Mitsui Financial Group (SMFG) traded on Tokyo, Nagoya, and New York exchanges.

In the Americas, SMBC Group maintains significant presence across the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru, providing commercial and investment banking services to corporate, institutional, and municipal clients while leveraging its extensive Asia-Pacific network.