Quontic Bank Review 2023
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At a glance

CDs
Checking
Savings
MMA
About Bankrate Score
Overview
The high-yield savings account, money market account and certificates of (CDs) from Quontic Bank are known for their competitive rates and lack of fees. The digital bank also offers a cash-back checking account as well as an interest-bearing checking account that pays a competitive yield.
Highlights
- Low Min Balance
- High APY
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Quontic Bank is an online bank headquartered in New York known for innovation and paying competitive rates. Those looking for in-branch banking will need to look elsewhere, however.
Pros
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Quontic pays competitive rates on deposit products.
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Savings accounts require just $100 to open.
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Customers have access to more than 90,000 fee-free ATMs nationwide.
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Money can be transferred using Apple Pay, Google Pay, Samsung Pay and Zelle.
Cons
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Quontic has five loan offices but no bank branches.
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While Quontic’s savings account rate is competitive, higher yields can be found elsewhere.
Quontic Bank banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 9/29/2023
Quontic Bank savings overview
Pros
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A $100 deposit is all that is needed to open a High Yield Savings account.
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There’s no monthly service fee.
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The APY is well above the national average.
Cons
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Once six transactions have been made per statement cycle, a $10 fee is charged for each additional one.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Quontic BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | None |
Non-sufficient funds fee | None |
Monthly maintenance fee | None |
Out-of-network ATM fee | None |
Excessive transaction fee | $10 for each transaction that exceeds six per statement cycle for the High Yield Savings Account |
About Quontic Bank
Quontic Bank is a digital bank that was founded in 2009 when New York-based Golden First Bank, a small troubled thrift, was purchased by real estate investor and developer Steve Schnall. The bank has been designated by the U.S. Treasury as a Community Development Financial Institution (CDFI) for focusing its lending on low-income individuals and small businesses.
Quontic offers a high-yield savings account, money market account and CDs that earn competitive rates, require low minimum deposits and don’t charge monthly service fees. It also offers a high-yielding checking account and a cash-back checking account.
Customer experience
Quontic Bank earns top marks for its generous ATM network, with more than 90,000 free ATMs nationwide.
Quontic’s app offers mobile banking staples, like depositing checks and paying bills. The app has received 4.4 stars in the App Store and 3.3 stars on Google Play.
Checking customers can order a wearable payment ring in addition to a debit card, for those interested in making contactless payments.
Customer service hours are 9 a.m. to 6 p.m. Eastern time Monday through Friday. The bank’s website also features a chat function for customer inquiries.
How does Quontic Bank compare to other banks? Quontic Bank vs. Discover Bank
Quontic Bank and Discover Bank are both online banks that are known for deposit accounts that earn high yields, charge no monthly service fees and often require low minimum opening deposits. Both offer high-yield savings accounts as well as checking accounts that earn 1 percent cash back on qualifying debit purchases. Quontic also offers an interest-bearing checking account.
Both banks offer CDs that pay competitive yields, although Discover’s CDs come in a considerably broader range of terms. Both Quontic and Discover also offer money market accounts that earn high APYs, although Quontic’s account requires a significantly lower minimum opening deposit.
Quontic Bank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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