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Quontic Bank (Member FDIC) pays high interest rates overall, but be sure you're eligible to earn the best rates on its high-yield interest checking and money market accounts.
Quontic Bank Review
Quontic is an online bank. You can use 28,000 MoneyPass ATMs around the U.S. for free. Quontic won't charge you for using an out-of-network machine, but the ATM provider might.
Quontic does have a mobile app, but there aren't many online reviews yet. So far, the app has 4.8 out of 5 stars in the Apple store, and 4.7 out of 5 stars in the Google Play store.
To contact Quontic customer support, call or chat online Monday through Friday, 9 a.m. to 6 p.m. ET.
Your deposits are FDIC insured for up to $250,000, or $500,000 for joint accounts.
Is Quontic Bank Trustworthy?
The Better Business Bureau gives Quontic an A+ rating. A good BBB score indicates a company responds effectively to customer complaints, is transparent about business practices, and advertises honestly.
Quontic doesn't have any recent public scandals. Between its clear history and strong BBB grade, you may decide you're comfortable banking with Quontic.
Quontic Bank Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 4.25 |
| Checking | 3.75 |
| CD | 3.75 |
| Money market account | 4.25 |
| Trustworthiness | 5 |
| Total: | 4.25 |
Quontic Bank Pros and Cons
| Pros | Cons |
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Quontic Bank High Yield Savings Rate
Quontic High Yield Savings Account is a solid savings account with a high rate and no monthly service fee. But if you want a savings account with more robust features, like savings buckets or automatic savings tools, you may want to look elsewhere.
no monthly service fee
4.00%
$100
- High APY
- No monthly service fees
- $100 minimum opening deposit
- Earn 4.00% APY with a Quontic High Yield Savings Account
- Start earning interest from Day 1 of your first deposit with no limit on how much you can earn.
- Open an account online in just 3 minutes
- Interest is compounded daily and credited to your account every month
Quontic Bank High Interest Checking Rates
If you're looking for a high-yield checking account, Quontic High Interest Checking Account is a good choice. Some high-yield checking accounts only pay interest on balances up to a certain amount, but Quontic pays a high rate on your entire balance. Just be sure you can qualify for the high rate by making at least 10 debit card purchases every month, that are at least $10.
Quontic has some other strong rewards checking accounts, too. The Quontic Cash Rewards Checking Account pays 1% cash back. Quontic Bitcoin Rewards Checking lets you earn Bitcoin, which you can exchange for cash later if you prefer. Bitcoin Rewards is only available in certain states right now, though.
no monthly service fee
0.01% to 1.10%
$100
- High APY
- No monthly service fees
- No out-of-network ATM fees
- $100 minimum opening deposit
- Doesn't reimburse any fees charged by out-of-network ATM providers
- Earn up to 1.10% APY on all balances
- Open an account online in just 3 minutes
- No monthly maintenance fees or minimums
- $100 minimum deposit required to open an account
Quontic Bank CD Rates
Quontic could be a good fit if you want a 6-month, 1-year, 2-year, 3-year, or 5-year CD.
Quontic charges high penalties if you need to withdraw money before your term ends. If you're worried you'll need to make an early withdrawal, you may prefer to open a CD with a bank that charges lower fees, or even to open a no-penalty CD.
Quontic Bank Money Market Account Rates
The Quontic Money Market Account has one of the best money market accounts out there.
Money market accounts are similar to savings accounts, except the former makes it easier to access your money. Money market accounts usually send you either a debit card or paper checks so you can spend money without transferring funds to a checking account first. The Quontic Money Market Account sends you both a debit card and paper checks. It could be a useful emergency fund so you can tap into savings instantly.
no monthly service fee
4.75%
$100
- Competitive APY
- $100 minimum opening deposit
- No monthly service fees
- Includes a debit card and paper checks
- No out-of-network ATM fees
- Doesn't reimburse any fees charged by out-of-network ATM providers
- Earn up to 5.00% APY with a Quontic Annual Percentage Yield with a Quontic Money Market Account
- No Monthly Maintenance or Overdraft Fees
- $100 minimum deposit required to open an account
Quontic Bank FAQs
The rate of return for Quontic High Yield Savings Account is 4.00% APY. You can also earn 3.00% to 4.50% APY on a Quontic CD (depending on the term), and 4.75% on the Quontic Money Market Account.
Yes, Quontic is a reputable bank and a legitimate Member FDIC. When your bank has FDIC insurance, your insured money is safe even if the institution shuts down. Quontic is also accredited by the Better Business Bureau.
Quontic is an online-only bank. It's also a CDFI (Certified development financial institution), which means it serves customers is unbanked and underserved areas.
Quontic has been around since it was founded in 2009.
As a Quontic customer, you can withdraw money from over 28,000 MoneyPass ATMs around the U.S., and Quontic won't charge a fee. If you have a Quontic checking account, you can transfer money from savings to checking and use your debit card. The bank's money market account also comes with a debit card and paper checks.
How Quontic Bank Compares
Quontic Bank vs. Discover Bank
Discover® savings rates are slightly lower than what the Quontic High Yield Savings Account offers right now.
If you want a cash-back checking account, it could be a toss-up between the two banks. Discover® Cashback Debit Account pays 1% cash back on up to $3,000 in purchases every month (see website for details), while the Quontic Cash Rewards Checking Account offers 1% cash back for up to $50 in rewards per statement cycle.
You may prefer Discover if you're more comfortable using a big-name bank. Discover's mobile app has tens of thousands of Google Play reviews and millions of Apple reviews, with great scores overall. Discover is also a bank with 24/7 customer support.
Quontic Bank vs. Axos Bank
If you're strictly looking for a high interest rate on a savings account, you'll prefer Quontic over Axos. The Quontic High Yield Savings Account pays 4.00% Annual Percentage Yield (APY), while the Axos High Yield Savings Account only offers up to 0.15% to 0.61%.
Quontic and Axos both have good high-yield checking accounts. With Axos, you have the potential to earn a slightly higher rate, as long as you meet the criteria. You'll probably like Quontic better if you don't meet the criteria at Axos.
Why You Should Trust Us: How We Rated Quontic Bank
We rate bank accounts on a scale from one to five stars. For Quontic's checking, savings, and money market accounts, we used Personal Finance Insider's bank account ratings methodology. The exact factors we evaluate vary depending on the type of account — for example, we look at overdraft fees for checking accounts and interest rates for savings and money market accounts.
For Quontic's CDs, we used our CD rating methodology which looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, and the security and ethics of the company.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
