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Quontic Bank Review: Innovative Rewards and Great Customer Service

Review Updated
Kailey Hagen
Steven Porrello
By: Kailey Hagen and Steven Porrello

Our Banking Experts

Nathan Alderman
Check IconFact Checked Nathan Alderman
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 our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield

Quontic Bank is an innovative online bank that offers competitive rates on its savings accounts and CDs. Its massive network of no-fee ATMs (totaling around 90,000) can help you when you need to withdraw cash, and its low minimums and no fees make its account accessible to all savers. If you like having all your bank accounts in one place, read on to see if Quontic Bank is the right place for your money.

Offer image for

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.
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Bottom Line

Quontic Bank offers high CD rates with low minimums and a variety of terms. While the bank doesn't offer 4-year CD terms, you can still build a CD ladder with shorter lengths, such as 6- and 12-month terms.

Pros
  • Innovative Bitcoin Rewards Checking account
  • Excellent customer service
  • No monthly maintenance fees
Cons
  • Missing some common CD terms
  • Checking accounts not ideal for infrequent debit card users

Quontic Bank savings account

Quontic Bank has a single savings account -- the Quontic High Yield Savings account.

Quontic High Yield Savings

The Quontic High Yield Savings account has a decent 4.50% APY with a low opening deposit requirement ($100). There are no monthly fees or ongoing balance requirements, nor are there any overdraft fees. Like other online-only savings accounts, you can't directly withdraw cash from this account, but electronic transfers enable you to quickly move money from Quontic Bank to another account.

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Rates as of Apr 16, 2024
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.
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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.
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APY
4.50%
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.

Quontic Bank CD accounts

Quontic Bank offers traditional certificates of deposit (CDs) with a variety of terms.

Quontic Bank CDs

Quontic Bank offers CDs with terms ranging from 6 months to 5 years. It offers most of the terms one would expect, though it is missing a 4-year CD. Even without that rung, Quontic offers enough terms to build a long-term CD ladder. Its rates are pretty high, especially on its shorter-term CDs, and its minimum deposit is more affordable than what you see with some other top banks.

Quontic Bank checking accounts

Quontic Bank offers two checking accounts, which are discussed in detail below.

Quontic High Interest Checking

The Quontic High Interest Checking account offers a competitive APY for a checking account (currently up to 1.10%). But you must make at least 10 debit card purchases of at least $10 per month to bump the account's normal 0.01% rate to the higher one. Like Quontic Bank's other checking accounts, it has a low opening deposit requirement ($100) with no monthly fees and a nationwide ATM network.

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Rates as of Apr 16, 2024
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.
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= Excellent
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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.
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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
  • One of the highest APY for CDs and savings account
  • 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 
  • Limited CD terms
  • 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 Cash Rewards Checking

The Quontic Cash Rewards Checking account gives you a debit card that earns 1% back on everyday purchases. The account has no monthly fee or ongoing deposit requirements, though there is a small minimum opening deposit requirement ($100). It also includes a nationwide ATM network and offers online and mobile banking. Like its savings account, Quontic Bank doesn't charge overdraft fees to its Cash Rewards Checking account customers.

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Rates as of Apr 16, 2024

Quontic Cash Rewards Checking

Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 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, 3.50 out of 5 stars.
3.50/5 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.
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= Excellent
= Good
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= Poor
APY
0.00%
Min. To Earn APY
N/A
  • 1% cash back on eligible debit card purchases
  • No monthly fees, overdraft, or NSF fees
  • 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 
  • Limited CD terms
  • No physical branches

Quontic is an online bank but has over 90,000 fee-free ATMs. With the Quontic Cash Rewards there are no monthly fees, minimum balance requirements, no overdraft, or NSF fees. There is a $100 minimum deposit required to open an account. Customers get 1.00% cash back on eligible debit card purchases. Quontic is the first bank to offer the Quontic Pay Ring -- the nation's first wearable payment ring.

Quontic Bank customer service and experience

Quontic Bank has an A+ rating with the Better Business Bureau and a 4 out of 5 on Trustpilot with more than 500 reviews. This suggests most of its customers are pretty happy with the quality of its service.

So far, Quontic Bank hasn't been featured in any large-scale customer satisfaction surveys, like those conducted by J.D. Power. That makes it a little difficult to compare how its customer service stacks up to that of its competitors, but there aren't any obvious red flags.

Quontic Bank relationship benefits

Quontic Bank doesn't offer relationship benefits, like waived maintenance fees or higher APYs on savings products, because it already offers fee-free accounts and high APYs to everyone. Relationship benefits are typical of brick-and-mortar banks, but you usually don't see them with online banks like Quontic Bank.

Alternatives to Quontic Bank

If Quontic Bank isn't the right fit for you, one of these banks might be worth considering:

Ally Bank

Ally Bank is another popular online bank known for its low and no fees and competitive APYs. It has a greater variety of products than Quontic Bank does, including a greater range of CD terms. However, it doesn't have any checking accounts with cash back rewards.

Discover® Bank

Discover® Bank offers competitive rates and no monthly maintenance fees, plus its accounts have no minimum balance requirements. Like Quontic Bank, Discover® Bank doesn't have any brick-and-mortar branches, so you have to be comfortable managing your money online.

Is Quontic Bank right for you?

Quontic Bank could be the right choice for you if:

  • You use your debit card frequently.
  • You have at least $100 to open an account with.
  • Customer service is important to you.

Other products by Quontic Bank

Here are some other banking products available with Quontic Bank:

Quontic Money Market Account

In addition to the bank accounts detailed above, the Quontic Bank money market account has a tiered APY system that doles out a high APY to all account balances. The account comes with a debit card to allow for direct cash withdrawals, with a limit of six withdrawals and transfers per month.

Quontic Bank mortgages

Quontic bank offers mortgages and mortgage refinancing as well as its unique Community Development Loans, which are designed for those who have been turned away by other lenders. Options include conventional, FHA, and VA loans.

FAQs

  • Quontic Bank is a legitimate bank that has FDIC insurance up to $250,000 per depositor, per account ownership category.

  • Quontic Bank is mostly an online-only bank, though it does have loan offices in some locations in Florida, Indiana, and New York.

Our Banking Experts