Quontic Bank Review 2019

Quontic Bank Logo


Quontic Bank offers personal and business banking in the New York City area as well as some products online.


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When a financial firm offers more than one checking, savings or MMA accounts, Bankrate reviews the account with the highest APY. Each bank is evaluated based on the 12-month certificate of deposit (CD) it offers.

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About Quontic Bank

Quontic Bank was formed in 2009 after real estate investor and developer Steven Schnall purchased the struggling Golden First Bank. Quontic is headquartered in New York City and has operations in Florida and New York. The financial institution reported nearly $400 million in assets in 2018.


  • Quontic has one of the top nationally available one-year CDs.
  • Decent interest rates on money market accounts.
  • Fairly low $100 deposit to open a savings account.
  • Access to tens of thousands of free ATMs nationwide.


  • Quontic has limited branch access.
  • Budgeting tools are very limited.
  • Access to checking product is limited.

Quontic Bank Services

Savings Rating


The Quontic Regular savings account offers a yield that’s a little more than 15 times the national average, but you need to have a balance of at least $250,000 to earn it. You need to keep only $100 in the Regular Savings account to avoid the $3 maintenance fee. Interest on the Regular Savings account compounds daily. Quontic Bank also offers a junior savings account that doesn’t have a monthly fee.


  • Interest compounds daily.
  • You only have to keep $100 in the Regular Savings account in order to avoid the $3 maintenance fee.
  • You can get a Quontic Bank Debit MasterCard for your savings account.


  • Must maintain a balance of at least $250,000 to get the highest APY.
  • Balances between $100 and $24,999.99 earn only five times the national average APY.

Savings accounts available from other banks

MMAs Rating


The Quontic Money Market account has one of the highest APYs available. But in order to get the APY, which is more than 10 times the national average, you need to have a balance of at least $100,000. There is a $500 minimum to open a Quontic Money Market account. Even balances below $5,000 earn a competitive yield around eight times the national average. The Money Market account has check-writing privileges plus a free order of checks and a debit card. The Money Market account is available in all 50 states.


  • Only $500 is required to open the Quontic Money Market account.
  • Money Market account has high APY on balances of at least $100,000.
  • Balances between $5,000 and $99,999.99 earn a competitive APY.
  • Account comes with a debit card, check-writing privileges and a free order of checks.


  • You need at least $100,000 to get the highest yield.
  • Quontic Bank's website doesn’t have many details about the account.

MMAs available from other banks

CDs Rating


Quontic Bank gives customers access to a few traditional CDs. There’s also the option to open a CD for a trust. The minimum deposit required to open an account is relatively low, and rates are competitive. Quontic Bank currently offers one of the top nationally available one-year CDs. An early withdrawal penalty applies if you withdraw your savings from your CD before it matures. According to the bank's website, the penalty for the bank’s one-year CD is equal to the interest for the full length of the stated term.


  • Interest is compounded daily and credited monthly.
  • CD yields are competitive.


  • Few CD terms are offered to customers.
  • No special CDs are available.
  • Early withdrawal penalties are harsh.

CDs available from other banks

2.10% APY
2.00% APY
2.00% APY

The Amplify Interest Checking account isn’t currently available. But if you’re applying for a loan, a loan officer can provide you with an application. The account is interest-bearing. However, when we reviewed Quontic Bank, the financial institution wasn't allowing clients to sign up for this account. Because access to the product was limited, we did not issue a score for this category.

Checking accounts available from other banks

Bank Experience Rating


Quontic Bank earns top marks for its generous ATM network. As a bank customer, you’ll have access to tens of thousands of free ATMs nationwide. There are only a couple dozen reviews on the bank’s app in the App Store, but reviewers score the mobile app favorably. Its Google Play app scores somewhat lower, but it has even fewer reviews. Regardless, you will have access to mobile banking staples, like the ability to deposit a check and pay your bills. While you can’t reach a bank representative on the phone 24/7, you can reach someone seven days a week from 8:30 a.m. until 5:30 p.m. Eastern.

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