Frequently Asked Questions

Do I need to pay taxes on my Jiko account?

Yes. Your Jiko account invests in Treasury Bills by effecting trades. As a result of the trading activity, you may receive both 1) interest income and 2) capital gains/losses from your T-Bill investment. Both interest income and capital gains/losses must be declared to the IRS and are federally taxable.

Will I get tax documents if I use Jiko and which ones?

Yes, when tax season comes around, you’ll receive documents in January and in February as required by law. You can find them in the “Profile” tab of the Jiko app. If you don't see a "Tax documents" folder in the "Profile" tab, please update to the latest version of the Jiko app. If you earned $10 or more in interest income in 2019, you will receive a 1099-INT and will have to report that income on your tax return. If you earned less than $10 in interest with Jiko, we will not provide tax documents since you are not required to report interest income of less than $10 to the IRS. If you had funds in your brokerage account in 2019, you will have to report capital gains and losses. We will also be providing you a statement of the trades that have occured in your brokerage account and the resulting gains and losses.

Are there any tax benefits to Treasury Bills?

Interest accrued on all US Treasury securities, including short-term Treasury Bills, is exempt from taxation at the state and local level, but is fully taxable at the federal level. Tax benefits may depend on other factors such as your taxable income or personal cases, so please contact your tax accountant for advice. Learn more here.

How do I update my password?

To update your password, navigate to ‘My Profile’ in the Jiko app and tap ‘Update profile.’ On the “Update profile” page, select ‘Update password’ and follow the in-app prompts.

I’ve found a bug in the Jiko beta app. Who do I contact?

You can report any bugs or problems to our member service team at support@jiko.io. Please include the following:

Your name
Your registered email address
Type of mobile device
Mobile operating system (iOS or Android™)
Bug description
Steps to reproduce
Screenshots of the problem (if available)

Thanks for helping to make the Jiko app an even better experience for our community!

How can I help to improve Jiko?

In addition to reporting bugs in the Jiko app, you can sign up to join our official UX testing community. Learn more and sign up here.

I still have a few questions. Where can I find answers?

For all other inquiries, please email us at support@jiko.io, and we’ll get back to you as soon as possible. We strive to reply to all messages within two business days.

To ensure you receive our response, please whitelist the jiko.io domain in your email client’s spam filter.

¹ Your investments are subject to certain risks. US Treasury Bills are securities and, as with any investment, you could lose all or part of your investment in your account. Learn more here.
² Learn more about our ACH transfer features and limitations here.

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The Jiko Team
FAQ
UX Community

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 FDIC insurance. No bank guarantee. May lose value.

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 Federal Savings Bank.

US Treasury securities are issued by the federal government and are backed by the “full faith and credit” of the US government. For more information, visit https://www.finra.org/investors/learn-to-invest/types-investments/bonds/types-of-bonds/us-treasury-securities .

Your investments are subject to certain risks. US Treasury bills are securities and, as with any investment, you could lose all or part of your investment in your account. Learn more here.

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 Federal Savings Bank. The Jiko Solid debit card, when available, will be issued by Jiko Bank, a division of Mid-Central Federal Savings Bank, and can be used anywhere on the Discover, Pulse, and NYCE networks. 