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Why banking needs an upgrade


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A fluid and rewarding account that keeps you invested

The Jiko app

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Unlike other banking products, Jiko isn't selling your money to other customers.

When you open an account with Jiko it doesn’t hold your deposits itself on its balance sheet and immediately converts them into T-Bills. That means that you then get the returns from these T-Bills.

A kind of spendable Treasury bill, where customers’ deposits are automatically swept into a brokerage account and converted into treasuries which, in theory, can deliver a higher return than typical bank interest.

Another approach, taken most recently by Jiko, a challenger bank that sweeps deposits into Treasury Bills (...) is acquiring banks outright to become chartered financial institutions.

Jiko raises $40 million to become a most unusual challenger bank.

Jiko is a very different kind of bank that invests consumer deposits directly into U.S. treasury bills, allowing them to reap a higher yield.

The Jiko platform is unique in that it doesn't hold customer deposits, but instead keeps customers directly invested in Treasury Bills, which are backed by the U.S. government.

That U.S. regulators blessed the Jiko transaction is significant mostly because of how fundamentally different it is: It’s a consumer bank that doesn’t revolve around holding deposits (...) Rather than ceding the yield on those investments to the typical bank, which takes deposits and buys Treasuries or lends out the money, the Jiko customer keeps it.

Jiko has a very different business model from Varo and other challenger banks.

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Jiko keeps you invested in US Treasury Bills.

US Treasury Bills are securities backed by the “full faith and credit” of the US government

Securities investments:

No Bank Guarantee • May Lose Value • Not FDIC insured

Jiko, owned and operated by Jiko Technologies, Inc., makes available a unique combination of financial services provided by Jiko Technologies, Jiko Securities, Inc., a registered broker-dealer, and Jiko Bank, a division of Mid-Central National Bank, Member FDIC.

US Treasury securities (“Treasuries”) are issued by the federal government and are backed by the “full faith and credit” of the US government.
Learn more here. Past performance is not indicative of future performance.

  1. Cashback rewards apply to qualifying purchases only. See our Exclusive Rewards Terms for more information.
  2. Funds are invested in T-Bills in $100 increments. Aggregate funds in your Jiko Brokerage Account of less than $100 will remain in that account in cash. Securities investments: May lose value. Are not FDIC insured. No bank guarantee.
  3. Profits from Treasury Bills may or may not be tax exempt at the state and local level. We do not provide tax or legal advice. Please refer to your financial advisor or tax professional for advice.
  4. Returns are calculated from January 1, 2020 to December 31, 2020. Past performance is not indicative of future returns.

Securities are offered by Jiko Securities, Inc. (“JSI”), acting as the principal carrying firm. JSI is a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). All your securities and funds are held in an omnibus account at Apex Clearing Corporation, pursuant to the U.S. Securities and Exchange Commission Rule 15c3-3 customer protection rules. SIPC protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

See FINRA BrokerCheck and Jiko U.S. Treasuries Risk Disclosures

Banking services provided by Jiko Bank, a division of Mid-Central National Bank, Member FDIC. The Jiko Debit Card, when available, will be issued by Jiko Bank, a division of Mid-Central National Bank, and may be used wherever Discover cards are accepted to perform the transactions and subject to any dollar amount or frequency limitations set forth in the Limitations Disclosures.

This site is designed for US residents.
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