Taking advantage of the highest interest rate offerings out there can help you get the most out of the funds you park in a deposit account.
But managing accounts across multiple banks simply to get the absolute best interest rates out there can be a challenge.
Quontic Bank provides bank accounts with competitive yields that won’t require you to manage multiple banking platforms. Instead, you can reap the rewards of competitive yields without the hassle of switching between separate banking institutions.
Quontic Bank is currently included on both our best high-yield checking and best high-yield savings accounts lists. Let’s take a closer look at what they offer to find out why.
- Competitive APYs for savings, checking, and CDs
- Earn up to 1.5% back in cash or Bitcoin
- Only one physical branch location in New York City
Quontic Bank Details
Up to 1.01%
Checking Cash Back
What Is Quontic Bank?
Quontic Bank was founded in 2009 to provide an online banking experience across the nation. Plus, a brick-and-mortar location in New York City.
The savings and checking products offered by the bank provide high interest rates and enticing rewards opportunities for their customers.
Additionally, Quontic Bank is a Community Development Financial Institution. With that, it provides home loan products to underserved communities. The goal is to help people to achieve their goal of homeownership with fair home loan and mortgage refinancing options.
What Does It Offer?
Quontic Bank has some unique product offerings. Here are the features that stand out.
Stellar Checking Account Options
It would be a challenge to find a bank with more robust checking account options. With Quontic Bank, you can choose from three checking accounts that each offer useful options.
The first option is the high-yield checking account. Right now, you can earn up to 1.01% on balances of up to $150,000 if you make at least 10 qualifying transactions each month. On balances from $150,000.01 to $1,000,000 you will earn 0.35% APY (and will also earn 1.01% APY on the account balance up to $150,000). That’s a very competitive option that will allow you to put the funds in your checking account to work.
Next up is the cash rewards checking. Through this account, you’ll earn 1.5% cash back on your eligible debit card purchases. No matter how much you spend, 1.5% cash back can help you stretch your dollars further.
Finally, Quontic Bank offers a unique Bitcoin checking account. With that, you will earn 1.5% in Bitcoin for all purchases you make. The downside is that the minimum account balance is $500, which is considerably higher than the minimum account balance of $100 for the high-yield checking and cash rewards checking accounts.
Competitive Yields On Savings And MMA
Quontic Bank offers a savings account with a competitive APY. Right now, you can earn 0.55% on the balance in your savings account. However, you’ll need to meet the minimum opening account balance of $100.
Importantly, the interest rate is compounded daily. But you won’t see this boost to your savings until the end of the statement cycle. Each month, you’ll receive the interest your account has earned. Additionally, you’ll find competitive rates with Quontic Bank’s money market account.
You can currently earn:
- Balances $0 to $4,999.99: 0.40% APY
- Balances $5,000 to $149,999.99: 0.50% APY
- Balances of $150,000 or more: 0.60% APY
Worthwhile CD Rates
As a final way to earn, you can tap into relatively high interest rates through Quontic Bank’s certificate of deposit (CD. Terms range from 3 months to 5 years.
For example, you can earn 0.60% on a 12-month CD right now. The minimum deposit is $500.
The competitive rates and multiple term options could be the perfect opportunity for you to build your very own CD ladder. Want to learn how to create a CD ladder to help you grow your funds in a low-risk way? Check out our full guide.
Are There Any Fees?
You won’t run into any monthly fees with the checking accounts, savings accounts, or money market accounts offered by Quontic Bank. And we were excited to learn that, as of January 1st, 2022, the following transaction fees will be removed or reduced:
- Overdraft/NSF from $35 to $0
- Incoming Domestic Wire Transfer from $10 to $0
- Activity Statement from $5 to $0
- Cashier's Checks from $10 to $0
- Fax/Photocopies from $2 to $0
- Check/statement photocopy from $5 to $0
- Activity printout from $1.50 to $0
- Money order from $4 to $0
- Foreign collections from $30 to $0
- Outgoing collections from $20 to $0
- Excessive check fee from $10 to $0
- Electronic statement fee from $5 to $0
- Dormant Account from $10/Monthly to $5/Monthly
The company also offers free-free ATM access at Citibank® branch ATMs, over 55,000 Allpoint ATMs, and 28,000 Moneypass ATMs (withdrawals only unless you happen to live near its New York city branch).
How Do I Contact Quontic Bank?
If you need to get in contact with Quontic Bank, there are a couple of options for you.
You can send an email to email@example.com or use the chatbox on their website. If you want to have a live conversation, then you can call 1-800-908-6600 for general inquiries or 1-855-226-5287 for online banking and mobile support.
Customer service representatives are available on Monday through Friday from 9 AM to 6 PM EST.
How Does Quontic Bank Compare?
As a whole, Quontic Bank offers a robust selection of stand-out checking account options. Plus, its other offerings include a worthwhile savings account,
money market account, and certificate of deposit (CD). With that, it's a great option if you want to have all of your banking needs served in a single place with reasonably competitive rates.
If you're only looking for one particular product, such as high-yield savings, you may be able to get better interest with a different bank. It's rare to to find a bank that's also able to offer all three options, but there are a few examples such as Axos Bank and Radius Bank (now Lending Club). Here's how the three banks compare:
Up to 1.01%
Up to 1.25%
Up to 0.15%
Checking Cash Back Rewards
Up to 1%
Up to 0.61%
Up to 0.25%
90,000+ Free ATMs
91,000+ Free ATMs
How Do I Open An Account?
Want to open an account? Start by heading to Quontic Bank’s website and select "open an account." At that point, you can choose between the checking account options, savings account, money market account, and certificates of deposit.
You’ll start by filling out a short application. It should only take a few minutes to complete. At the end, you’ll need to fund your checking account with a minimum of $100. Keep in mind that the minimum opening balance is higher for the Bitcoin checking account and CD at $500.
Is It Safe And Secure?
Quontic Bank offers FDIC insurance on its accounts for at least $250,000. With that, you can feel secure keeping your funds with this financial institution.
Is It Worth It?
Quontic Bank offers a wide selection of products that can help you take care of most of your banking needs. You won’t have to juggle multiple banking platforms to get a solid banking experience for each account.
If you want to keep things simple without forgoing the opportunity to put your funds to work, then Quontic Bank is a great option. But if you want the absolute best APY for each of your deposit accounts, you may need to piece multiple bank accounts together to make it happen.
Want to explore your other free checking account options? Check out our favorites here.
Quontic Bank FAQs
Let's answer a few of the most common questions that people ask about Quontic Bank.
Does Quontic Bank have a mobile app?
Yes, the Quontic Bank mobile app is available on the the Apple App store and Google Play Store.
Are Bitcoin Rewards available in every U.S. state?
No, currently the Bitcoin Rewards Checking account isn't available to residents of Indiana, Louisiana, Nevada, or North Carolina.
Is there a fee to convert Quontic Bank's Bitcoin Rewards into dollars?
Yes, NYDIG (Quontic Bank's Bitcoin custodian) charges a 2% redemption fee that is deducted from the amount of cash that is deposited into your account.
Does Quontic Bank have any active bonus offers?
No, while its accounts earn solid ongoing interest and rewards, Quontic Bank isn't currently offering any upfront signup bonuses.
Quontic Bank Features
Debit Card Cash Back
One branch, located in New York City (Astoria)
90,000+ fee-free ATMs that are part of the Moneypass ATM network
Customer Service Number
Customer Service Hours
Monday - Friday, 9 AM to 6 PM (EST)
Mobile App Availability
iOS and Android
Quontic Bank Review
Fees and Charges
Ease of Use
Tools and Resources
Products and Services
Quontic Bank offers a variety of checking and savings account products that all offer competitive interest rates and charge no monthly fees.
- No monthly fees
- Competitive APY across all accounts
- Two rewards checking options
- Access to 90,000+ fee-free ATMs
- Just one physical branch
- Cash deposits unavailable in most areas
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.