Review
Updated
The Quontic Money Market Account is a great alternative to checking and savings accounts for those who want the best of both worlds. It offers a competitive rate and easy access to your cash, including a debit card and check-writing capabilities. Read our full Quontic Money Market Account review to see if it's a good fit for you.
Member FDIC.
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Ratings Methodology
Rates as
of Apr 29, 2024
Quontic Money Market Account
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
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, 4.50 out of 5 stars.
4.50/5
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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= Good
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= Fair
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= Poor
= Best
= Excellent
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Monthly Fee
$0
Min. Balance
$100
APY
5.00%
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.
High-yield savings account comparison
We recommend comparing high-yield savings 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.
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| Account | APY | Promotion | Next Steps |
|---|---|---|---|
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 |
up to 4.60%
Rate info
You can earn the maximum 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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New customers can earn up to a $300 bonus with qualifying direct deposits!
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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 |
5.05% APY for balances of $5,000 or more
Rate info
5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
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N/A
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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.
= Best
= Excellent
= Good
= Fair = Poor |
4.35%
Min. to earn: $0
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New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.
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Full Quontic Money Market Account review
Top perks
Competitive APY: The Quontic Money Market Account offers a pretty competitive APY of 5.00% that's right in line with what many other top banks offer. It also has a low minimum opening deposit.
Debit card and checks available: Quontic gives its money market account customers access to a debit card, which can be used at over 90,000 fee-free ATMs across the U.S. The account also offers check-writing capabilities for those who prefer to make withdrawals this way.
Few fees: Though the account has a minimum opening deposit requirement, it doesn't have ongoing balance requirements that you must maintain in order to avoid a maintenance fee. The Quontic Money Market Account also doesn't have overdraft fees and is transparent about the few things it does charge you for.
FDIC insured: Quontic Money Market Accounts are FDIC insured up to $250,000 per person per account type, just like traditional brick-and-mortar bank accounts. This protects your cash if your bank ever fails.
What could be improved
Cash deposits: Quontic doesn't have any physical branch locations and it doesn't have any deposit-taking ATMs either. In order to add cash to your account, you'll have to put that money in a separate bank account and then transfer it to your Quontic Money Market Account.
How to access your money
Here's a closer look at how you can move money in and out of your Quontic Money Market Account.
Deposit options
You can deposit funds into your Quontic Money Market Account in the following ways:
- Direct deposit
- Electronic transfer
- Mobile check deposit
- Wire transfer
- Zelle
Withdrawal options
Customers can withdraw money from their Quontic Money Market Account using any of these options:
- Electronic transfer
- Online bill pay
- Wire transfer
- Debit card
- Check
- Zelle
It's important to note that you could face excessive transaction fees if you make more than six withdrawals from your Quontic Money Market Account in a month.
Related reading: What Is Regulation D?
The Quontic Money Market Account is right for you if:
This could be a good choice for you if:
- You want to earn a competitive APY on your extra cash.
- You don't plan to make more than six withdrawals per month.
- You want a lot of flexibility in how you access your money.
Keep reading about Quontic
- Quontic Bank Review
- Quontic High Interest Checking Account Review
- Quontic Cash Rewards Checking Review
- Quontic High-Yield Savings Review
- Quontic Bank CD Rates
Our money market account methodology
At The Motley Fool Ascent, we evaluate money market accounts based on four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum balance requirements, and perks.
Our scores are weighted as:
- APY: 60%
- Brand and Reputation: 15%
- Fees and Minimums: 15%
- Perks: 10%
Learn more about how The Motley Fool Ascent rates bank accounts.
Our Banking Expert
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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