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Quontic Bank Review: Digital Banking for Savvy Savers

Review Updated
Ryan Wilcox
Author: Ryan Wilcox
Ryan Wilcox
Ryan Wilcox

Ryan is a full-time personal finance writer at Motley Fool Money. He’s been covering topics like credit cards and savings since 2022, when he began his writing career at The Points Guy. He later joined Motley Fool Money, where he continues helping people who are new to the world of personal finance. Outside of work, you’ll find Ryan watching movies, listening to music, or obsessively updating his Letterboxd account.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Quontic Bank is a digital-only institution offering competitive rates, no-fee banking, and standout tech features. It positions itself as a forward-thinking banking option, with nifty tools like a wearable payment ring. With no physical branches, it targets users who are comfortable doing everything online.

As a Gen-Z bank user myself, I'd recommend Quontic to young people looking for a next-gen banking option.

Offer image for
Member FDIC.

Quontic

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Bottom Line

Quontic is an online-only bank that offers multiple checking accounts, an excellent high-yield savings account, a money market account, and a slew of CDs with uber-competitive rates. Great for opening a CD ladder, stashing your savings, or earning checking rewards, there's a good chance Quontic has an account that will work for you.

Pros
  • Innovative Wearable Checking account
  • High-yield savings account with competitive APY
  • Excellent customer service
  • No monthly maintenance fees
Cons
  • Missing some common CD terms
  • Checking accounts not ideal for infrequent debit card users

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Quontic Bank products

Savings account

The Quontic High Yield Savings account earns a competitive APY (currently 3.85%) with no monthly fees and a low $100 minimum to open. This makes it a strong option for savers looking to earn more than they would with a traditional bank.

While it doesn't come with many extras, it offers basic digital features like mobile check deposit and automated transfers. It's best for people who want a simple, high-yielding savings account to park their cash.

Quontic High Yield Savings
Open Account for Quontic High Yield Savings

On Quontic's Secure Website.

Member FDIC.

Rates as of Jun 16, 2025

Quontic High Yield Savings

Open Account for Quontic High Yield Savings

On Quontic's Secure Website.

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for Quontic High Yield Savings

On Quontic's Secure Website.

APY
3.85%
Min. To Earn APY
$100
  • High APY
  • No monthly service, overdraft, or NSF fees
  • Includes a debit card
  • Customer support
  • Minimum balance requirement
  • No local branches, online only
  • Maximum six transactions per account statement cycle

A standout online savings account with one of the best APY's we've seen. The savings account also includes a debit card, which is a nice add-on for an account that already outshines many. Interest is compounded daily based on your posted account balance, which means your money will grow faster.

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Checking account

The Quontic High Interest Checking account earns up to 1.10% APY if you make at least 10 qualifying debit card purchases per month. There are no monthly service fees or overdraft charges, which helps reduce surprise costs.

The account includes access to a network of more than 90,000 ATMs and supports Apple Pay, Google Pay, and Quontic's optional Pay Ring. However, there are no budgeting or cash back tools, so it may not meet the needs of those looking for all-in-one checking account features.

Quontic High Yield Savings
Open Account for Quontic High Yield Savings

On Quontic's Secure Website.

Member FDIC.

Rates as of Jun 16, 2025
Award Icon 2025 Award Winner

Quontic High Interest Checking

Open Account for Quontic High Interest Checking

On Quontic's Secure Website.

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for Quontic High Interest Checking

On Quontic's Secure Website.

High APY when you complete 10 or more qualifying debit card purchases each month
APY
up to 1.10%
Min. To Earn APY
$1
  • High checking APY
  • No monthly fees, overdraft, or NSF fees
  • Comes with a debit card
  • Large fee-free ATM network
  • Quontic Pay Ring: the nation's first wearable payment ring
  • Must meet monthly transaction requirements to earn higher interest tier 
  • No physical branches

Quontic High Interest Checking earns one of the highest APYs among checking accounts. Unfortunately, you must make 10 qualifying debit card purchases of $10 or more each statement cycle to earn the highest interest tier. Still, the account is a good option to maximize savings beyond other deposit accounts. Plus, it has no monthly fees and access to fee-free ATMs.

10 debit card point of sale transactions of $10 or more per statement cycle required to earn the maximum APY. If the qualifying activity requirement is not fulfilled, the interest rate paid on the entire balance will be 0.01% APY.

Quontic certificates of deposit (CDs)

Quontic offers certificates of deposit (CDs) with terms ranging from six months to five years with competitive APYs. You only need $500 to open, and once you lock in your rate, it stays fixed for the entire term.

However, Quontic CD don't come with add-on or no-penalty options, and early withdrawals are subject to penalties. They're best for savers who are confident they won't need to access their money early.

Rates as of May 29, 2025

APY = Annual Percentage Yield

Offer image for Quontic CD
Quontic CD
Bottom Line

Quontic Bank offers CDs with terms ranging from six months to five years. It offers most of the terms one would expect, though it is missing a 4-year CD, so it may not be ideal for those hoping to build a CD ladder. Its rates are competitive, especially on its longer term CDs, and its minimum deposit is more affordable than what you see with some other top banks.

MINIMUM DEPOSIT $500
Open Account for Quontic CD

On Quontic's Secure Website.

6 Mo. APY 1 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
3.75% 3.25% 3.35% 3.25% 3.00%

Money market account

Quontic also offers the Quontic Money Market Account. Money market accounts give you the best of both worlds between checking and savings accounts.

You'll get the high APY of a high-yield savings combined with the utility of a checking account. Quontic's money market account includes a free debit card and check-writing privileges. Like with its savings account, a minimum $100 deposit is required to open an account.

Quontic High Yield Savings
Open Account for Quontic High Yield Savings

On Quontic's Secure Website.

Member FDIC.

Rates as of Jun 16, 2025

Quontic Money Market Account

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Monthly Fee
$0
Min. Balance
$100
APY
4.25%
Min. To Earn APY
$100
  • Competitive APY
  • Debit card and checks available
  • Few fees
  • FDIC insured
  • Difficult to deposit cash

The Quontic Money Market Account offers one of the most competitive APYs around, and its lack of common banking fees helps you keep more of what you earn in your pocket. The account is also pretty flexible when it comes to withdrawing your money, but depositing cash could be a challenge without any branches or deposit-taking ATMs.

Digital experience

Mobile app

Quontic's mobile app is highly rated, including all the essentials like mobile check deposit, external transfers, and bill pay, along with biometric login for added security.

You can also use it to locate fee-free ATMs or connect your debit card to digital wallets. Users find the app easy to navigate, though it lacks more advanced features like budgeting tools or expense tracking.

App Store rating: 4.8 / 5.0 stars
Google Play rating: 4.6 / 5.0 stars

Online banking features

The online banking platform includes core functions like balance tracking, recurring transfers, and account management. It also integrates with over 90,000 fee-free ATMs nationwide through partner networks like Allpoint and MoneyPass.

While the interface is simple and easy to use, it doesn't offer extras like savings buckets or joint goal tracking. Still, it's solid for users who value speed, access, and reliability.

Fees and costs

Quontic charges no monthly maintenance fees, overdraft fees, or incoming wire fees, which is a major plus for fee-conscious users. ATM use is free within its large network, though out-of-network ATM owners may still charge their own fees.

There's also no fee for closing an account early, though CD early withdrawal penalties do apply. Overall, however, Quontic is one of the more transparent and low-cost online banks.

Customer experience and reviews

Customer service availability

Customer support is available by phone and live chat Monday through Friday from 9 a.m. to 6 p.m. ET. There's no weekend or after-hours help, which could be inconvenient if you need assistance outside of those times.

It's also worth mentioning that many bigger banks have 24/7 phone lines, along with physical branches with people who can help. If you're considering Quontic, make sure you're okay going without these perks.

Support is based in the U.S., and most users report friendly and helpful staff. However, the limited hours and lack of 24/7 chat may be a drawback for some.

What customers say

Customers appreciate the competitive interest rates and easy account setup. Many note helpful service when opening accounts or resolving simple issues. However, some reviews mention slow response times and difficulty resolving more complex problems.

Overall satisfaction is high among users who prioritize rates and digital convenience over full-service banking.

Security

Quontic Bank is FDIC insured, which means your money is protected by the government up to $250,000 even if the bank fails. You'll also get key digital protections, including multifactor authentication and biometric app login.

The bank has a clean history of data security and is considered trustworthy for online-only banking.

Quontic Bank in the news

Quontic has received industry praise for innovation, having launched products like the Quontic Pay Ring, a wearable payment device that lets you make contactless payments through your debit card account.

The upside of the ring is convenience and security -- your card details are never exposed directly, and you won't have to carry your wallet or phone to pay.

How Quontic Bank compares

Quontic offers stronger APYs than most big banks and many online competitors, especially on savings. It's not as feature-rich as some competitors, which offer tools for budgeting or investment alongside banking.

Still, it's a top pick if you want simple accounts, strong returns, and minimal fees. If you need in-person service or advanced money management, though, you may want to look elsewhere.

Who Quontic Bank is best for

Quontic is best for digital-first savers who want high interest rates without paying fees. It's especially strong for people who are comfortable managing money through apps and don't need to visit a branch.

It's also a good fit for CD shoppers looking for a secure place to lock in a competitive return. If you value innovation and don't mind a lean list of features, Quontic delivers solid value.

FAQs

  • Yes, Quontic is FDIC insured, which means your deposits are protected up to $250,000 per depositor, per ownership category. It also offers digital security features like biometric login and multifactor authentication.

  • Quontic is 100% online, with no branches and limited customer support hours. It's a better fit for people who are comfortable managing money digitally.

  • Quontic stands out for its unique tech, like the wearable Pay Ring, and its competitive interest rates across savings, checking, and CDs. While it lacks budgeting tools, it’s great for savers who want simplicity, innovation, and low fees.