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Quontic Bank Review 2022

Updated December 2, 2022
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At a glance

4.7
Rating: 4.7 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.8 stars out of 5

Checking

Rating: 4.4 stars out of 5

Savings

Rating: 5 stars out of 5

MMA

Rating: 4.2 stars out of 5

About Bankrate Score

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Overview

A digital bank, Quontic offers a range of deposit accounts with minimal minimum-deposit requirements.

Highlights

  • 24/7 Customer Service
  • Low Min Balance
Compare offers
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.7 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.

Pros

  • Checkmark

    Competitive rates on deposit products.

  • Checkmark

    Savings accounts require just $100 to open.

  • Checkmark

    Access to tens of thousands of 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.

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 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. With this account, Quontic will match the monthly interest credited for each account and donate it to the #BeTheDrawbridge relief fund, a campaign helps small-business owners in the New York City area.

Pros

  • Checkmark

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

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    No monthly service fee.

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    Quontic matches the monthly interest you earn on its Drawbridge Savings account with a donation to its COVID-19 relief fund.

Cons

  • Balances above $250,000 earn a significantly lower APY with the Drawbridge Savings account. However, always stay within Federal Deposit Insurance Corp. (FDIC) limits and guidelines (which is $250,000 per depositor).

Compare Offer
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.7 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Quontic Bank earns top marks for its generous ATM network, with tens of thousands of free ATMs nationwide.

Quontic’s app offers mobile banking staples, like depositing checks and paying bills.

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, and checking, savings and money market accounts.

In 2020, Quontic Bank made a splash by launching a bitcoin rewards checking account, which is available in most states.

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.