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Quontic Bank Review 2023

Updated January 9, 2023
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At a glance

4.7
Rating: 4.7 stars out of 5
Bankrate Score
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CDs

Rating: 3.8 stars out of 5

Checking

Rating: 4.6 stars out of 5

Savings

Rating: 5 stars out of 5

MMA

Rating: 5 stars out of 5

About Bankrate Score

Overview

Quontic Bank is a digital bank that offers a range of deposit accounts with competitive rates and affordable minimum deposit requirements. In addition to earning a high rate, the savings account requires a low minimum deposit and charges no monthly service fees. Among the bank’s innovative offerings are a Bitcoin rewards checking account as well as a wearable payment ring that allows for contactless debit card purchases.

Highlights

  • Low Min Balance
  • High APY
Compare offers
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.75
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.00
%
APY
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

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

  • Checkmark

    Competitive rates on deposit products.

  • Checkmark

    Savings accounts require just $100 to open.

  • Checkmark

    Access to more than 90,000 free ATMs nationwide.

  • Checkmark

    Money can be transferred using Apple Pay, Google Pay, Samsung Pay and Zelle.

Cons

  • Quontic has five loan offices but no bank branches.

  • While Quontic’s savings account rate is competitive, higher yields can be found elsewhere.

Quontic Bank bank products

5.0
Rating: 5 stars out of 5
Bankrate Score

Quontic Bank savings overview

Quontic’s High Yield Savings account offers a yield that’s much higher than the national average. With a minimum of just $100 to open an account, it’s accessible to most savers, and there is no monthly service fee.

Pros

  • Checkmark

    A $100 deposit is all that is needed to open a High Yield Savings account.

  • Checkmark

    There’s no monthly service fee.

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    The APY is well above the national average.

Cons

  • Once six transactions have been made per statement cycle, a $10 fee is charged for each additional one.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right

Bank 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. 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.

About Quontic Bank

Quontic Bank is an innovative bank that began as Golden First Bank, a small, troubled bank purchased by real estate investor and developer Steven Schnall.

Headquartered in New York, Quontic offers certificates of deposit, as well as checking, savings and money market accounts.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.