I am one of an early member in the Jupiter World and new in the Jupiter Community…My only query is that if our funds on Jupiter are safe or not…How is the team going on profit with moving on a zero balance bank accounts?
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Replying with As per my Knowledge
Your Fund safe with Federal Bank
(upto 5 lakh DICGC Insurance)
About, profit- i also don’t know about it. R same like other banks?
I am also curious 
.
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How can we verify the same?
Is your money safe with digital/online/mediator/neo banks?
Your money is safe with a partner bank. In your case the bank is federal. From DICGC (Deposit Insurance and Credit Guarantee Corporation subsidiary of Reserve Bank of India) every licensed bank has an insurance guarantee of your money up to 5 Lakh only in case of bankruptcy of the licensed bank. Btw there is a 0% chance of bankruptcy for our large banks.
Imagine these 0 probability conditions:
If one (licensed) bank account has 50 lacs and it goes bankrupt then you can get up to 5 lacs by DICGC.
But if you have 10 (licensed) bank accounts you have 6 lacs each. And 3 banks went bankrupt (18 Lakhs wiped out). Then you can get up to 15 Lakh (5 lacs each).
How do neo-banks earn?
These banks do not have high sources of revenue or income such as lending or investing (bcs money is deposited in partner banks).
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Savings from revenue:
Because they do not have physical branches their expenditure is less on staff members and maintenance and they save a chunk of revenue and spend less. -
Transactions charges (and penalties.)
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Commission charges from the partnered bank for acquiring a large chunk of the customer base (via giving an easy account opening process.)
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Extra commission by providing more worthy customers such as those who can maintain 10,000 NRV/MAB (30 days average of deposited money should be equal to or greater than 10000) and who can do FDs. To acquire such customers, they spent on pro benefits for customers.
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Sponsors
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Commission from Merchants (amazon, Flipkart etc.)
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Debit card issuance, and transaction charges.
Hope you get it.
(Anyone can correct me if I mentioned wrong)
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Oh!Thats good…Im in love with Jupiter 
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But in some suspected cases (such as money laundering etc) your amount and account could be freezed by entities.
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Going only Legal way bro…But still its a virtual bank na?so was more curious about its working…Thanks:)
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It is only a mediator. The bank is Federal.
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I found intresting youtube video about Jupiter Business Model. 
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They’re just a tecnology startup partnership with Federal bank. They’re have a branch Jupiter ( neo branch) like other banks branch…
But they are not provided you physically service, they’re giving u all things via only app ( online based) , so they have customer all over the India… So they have more customers other than a normal fed branch ( maybe more than 1M + ) , it’s profitable because there physical services haven’t too much, they spent more money in their technology, it’s have huge customers base it’s zero balance account, but u can’t get reward with zero maintenance, u need to 10k + per month to get reward 250 RS , that is profitable for them
It’s also offer you FD, they’re earning by this
They’re also offered bill payment, they’re earning by this
They’re partnership with many brands. It’s makes profit
They’re running some programs every month, like saving challenge / spending challenge with visa , that’s make profit.
They’re also providing you digital gold, that’s make profit
They’re offering you mutual fund, that’s make profit
They’re have huge data and customer behaviour and spending area knowledge that’s make profit
They’re also offered you salary account, that is profitable
They’re also gives you loan ( early salary) that is profitable
And have many more ways…
Please give me time to remember 
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I would like to add only one point. Remember, Jupiter account also have charges.
It’s all companies marketing strategy, they’re 1stly give you all things free, then when you have habit of the app, they will charged…
I don’t think Jupiter have much changes…
Please share the changes?