Review
Updated
Quontic High Interest Checking offers competitive APYs on most balances with no monthly maintenance fees. It's a great option for individuals looking to maximize savings, but Quontic offers no way to deposit cash to the account. Learn more about this checking account and other alternatives in our Quontic High Interest Checking review.
Member FDIC.
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Ratings Methodology
Rates as
of Apr 24, 2024
Quontic High Interest Checking
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
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
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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= Best
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= Excellent
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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.
Full Quontic High Interest Checking review
Top perks
Competitive APYs
If qualified, you can earn up to up to 1.10% APY on all account balances. To qualify, accountholders need to make at least 10 qualifying debit card transactions of at least $10 per statement cycle.
No monthly fee
Quontic doesn't charge a monthly maintenance fee on High Interest Checking accounts.
Fee-free ATMs
Quontic customers have access to over 90,000 fee-free ATMs through several partner ATM networks including Allpoint, MoneyPass, SUM, and Citibank.
Low opening deposit
You can open a High Interest Checking account for as little as $100.
What could be improved
Point-of-sale requirements
To earn interest, you must make at least 10 qualifying point-of-sale transactions of at least $10 each per statement cycle.
No cash deposits
As a mostly online bank, Quontic doesn't offer a way for most customers to deposit cash into their checking account.
Inactivity fee
If you don't use your account, you could eventually be subject to a $5 dormant account fee per month.
Fees
| Quontic High Interest Checking | Monthly Maintenance | ATM Withdrawal | Overdraft | Stop Payment | Insufficient Funds |
| Fees | $0 | $0 | $0 | $20 | $0 |
How to access your money
Despite no physical branches, there are still plenty of ways to access your funds quickly, most of which don't carry a fee.
Deposit options
Use any of the following methods to fund your Quontic High Interest Checking account:
- ACH transfer
- Direct deposit
- Mobile check deposit
- Check by mail
- Wire transfer
Quontic doesn’t offer any way for customers to make cash deposits directly, so you’ll need to make other arrangements to fund your account.
Withdrawal options
You can choose from any of these methods to withdraw money from your Quontic High Interest Checking account:
- ATM
- Electronic bank transfer
- Wire transfer
- Physical checks
As we mentioned earlier, Quontic customers have access to over 90,000 fee-free ATMs across the country.
Checking account comparison
We recommend comparing checking account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
Show Best Offers Available in
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.00 out of 5 stars.
4.00/5
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 |
0%
Min. to earn: N/A
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Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
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Rating image, 4.25 out of 5 stars.
4.25/5
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 |
0.40% (up to 3.30%)
Rate info
To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. to earn: Monthly direct deposits totaling at least $1,500
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Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!
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Rating image, 4.75 out of 5 stars.
4.75/5
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 |
0.50%
Rate info
You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
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Quontic High Interest Checking is right for you if:
Quontic High Interest Checking is a good fit for people looking to earn high-yield interest on an everyday bank account without paying fees. This checking account offers some of the best rates we've seen, especially for higher account balances.
Remember, you need to meet the account's point-of-sale requirements to earn interest, so only consider the account if you are confident you'll qualify. It's also good for those who prefer online and mobile banking to in-person banking service.
Keep reading about Quontic
- Quontic Bank Review
- Quontic High-Yield Savings Review
- Quontic Cash Rewards Checking Review
- Quontic Money Market Review
- Quontic Bank CD Rates
Our checking account methodology
At The Motley Fool Ascent, checking accounts are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and fees. Our highest-rated banking products generally include competitive APYs without complex qualification tiers, low to no fees, and ease of use. See our full Ratings Methodology here.
Our Banking Expert
Kevin Payne is a freelance writer and family travel and budget enthusiast behind FamilyMoneyAdventure.com. His work has been featured in Forbes Advisor, Credible, CreditCards.com, Bankrate, SlickDeals, Finance Buzz, Student Loan Planner, and more. Kevin lives in Cleveland, Ohio with his wife and four teenagers.
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