Quontic Review

How does your bank stack up?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon


  • Competitive interest rates on accounts
  • Low opening required amounts
  • Good variety of accounts available
  • No monthly fees on accounts


  • Accounts have tiered interest rates
  • Checking account rates have requirements
  • Limited CD terms available
  • No ATM fee reimbursement

What You Need to Know

Quontic accounts earn competitive interest rates. These account rates are competitive with other online accounts. The interest rates are much higher than typical bank interest rates.

The required opening amounts for Quontic accounts are low. The regular savings account requires $100 to open. The checking account and money market account requires $500 to open. Each of the CD terms require $1,000 to open.

There are a variety of accounts offered through Quontic. They offer personal savings, checking, and money market accounts. They also offer personal CDs and IRA CDs. Quontic offers business accounts. Those include business checking and savings accounts. Quontic offers personal and business lending options, including reverse mortgages.

The Quontic checking account does not have a monthly fee. The money market account only has a fee if you receive a paper statement. That fee is $5 per month. If you opt into paperless statements, there will not be a fee on the account. Most Quontic accounts do not have a minimum balance required to keep in the account to avoid the fees. The regular savings does have a $3 fee if your account balance falls below $100.

Quontic accounts have tiered interest rates. To earn competitive rates on accounts requires a high account balance. To earn the highest rate for the MMA requires a balance over $100,000. The regular savings account requires a balance of $250,000 to earn the most competitive rate. Amounts over $5,000 for the MMA earn competitive interest rates, just not the highest. The regular savings account requires a $50,000 balance to earn a competitive rate.

The Quontic checking account earns very competitive interest rates. To earn those rates, you must meet the requirements. You must have 15 point-of-sale debit transactions and one ACH transaction in or out of the account. You must meet these requirements each statement cycle. If you do not meet these requirements, you will not receive the competitive rates.

Quontic Bank has limited CD terms available. They do not offer a CD term shorter than 12-months. The longest CD term is a 60-month term. There are five total CD terms available with Quontic Bank. Each CD requires $1,000 to open. The CDs and IRA accounts are only for personal deposit accounts.

Quontic offers over 90,000 surcharge-free ATMs. If you use an ATM not in their network, Quontic will not reimburse you the ATM fee. The ATMs in their network include AllPoint, MoneyPass, and SUM. The ATMs at Citibank branches are also included.

Cool Things

Receipts on Mobile App

The mobile app offers a new feature called Sensibill’s Receipts. With this feature, you can take a picture of your receipt with your cell phone. You can then track spending and categorize receipts. You can download your receipts and be reminded of warranty periods. This program can help you stay in your budget and track your spending.


Quontic Bank started in 2005. Their headquarters are in New York City. They have branch locations in Georgia, Indiana, Massachusetts, and Florida. In 2017 Quontic assets were more than $325 million. They have over 200 employees.

Quontic offers online accounts to those who do not live by a branch location. They offer personal savings, checking, and money market accounts. They offer personal CD terms and IRA accounts. Quontic has business accounts as well. Those accounts include business savings and checking accounts. They offer cash management options for businesses. Lending options for personal and business accounts are available.

Quontic is FDIC insured. They are also FHA approved in all 50 states. This means they can make HUD and FHA insured mortgage loans across the United States. Quontic is CDFI certified. This means they value financing options that serve underserved communities. This helps with local economic growth.

Awards and Recognition

  • Ranked 88th Healthiest Bank in the U.S. by DepositAccounts.com in 2016
  • 5-Star BauerFinancial rating since 2015
  • A+ Rating from Better Business Bureau

Giving Back

In 2017, Quontic sent around 5,000 bottles of drinking water to those affected by Hurricane Maria. They donated the water to centers in Florida and then sent the rest to Puerto Rico. The director of lending at Quontic Bank personally donated 100 cases of bottled water to the cause. The amount of water weighed more than 2.5 tons.

Frequently Asked Questions

Is Quontic FDIC insured?

Yes. Quontic is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

Access your money through a debit card, checks, electronic transfers, and bill pay. You can transfer money to another Quontic account or an external bank account. Quontic also offers a large network of surcharge-free ATMs.

Does Quontic offer mobile banking?

Yes. With the mobile app, you can see account balances and transfer money. The Quontic app allows customers to deposit checks with remote deposit. You can pay bills and organize your receipts with Sensibill’s Receipts.

Is Quontic free?

The checking account does not have monthly fees. The money market account does not have a monthly fee either if you sign up for paperless statements. If you do not enroll in paperless statements, there is a $5 monthly fee. The savings account has a $3 fee if your balance falls below $100.

Is Quontic a good bank?

Quontic accounts offer competitive interest rates. Their accounts do not have monthly fees if you meet the requirements. They offer a good variety of accounts, including business accounts. Quontic accounts do have tiered interest rates. To earn the most competitive rate requires a high account balance.

Is Quontic secure online?

They offer security measures that comply with federal law. Their computers have safeguards. Their files and buildings are secure.

Does Quontic offer competitive interest rates?

Yes. The accounts at Quontic offer competitive interest rates. The rates are competitive with other online accounts. Most all Quontic accounts have tiered interest rates. The highest rates require high account balances. Lower rates still earn competitive rates, just not the highest.

Can I use Quontic for my business accounts?

Yes. Quontic offers a good variety of business accounts. They offer business savings and checking account. They offer lending options for businesses as well as cash management options.

How is Quontic online banking different from the online banking my bank offers?

Quontic accounts offer more competitive interest rates. The rates are much higher than typical bank interest rates. Everything for your account is online.

Do Quontic checking accounts pay interest?

Yes. The Quontic checking account earns very competitive interest rates. You must meet the set requirements to earn competitive rates. Those include 15 debit card transactions and one ACH transfer in or out per statement. If you do not meet those requirements, you earn much lower interest rates.

How do I reach customer service?

By phone, mail, email, or online chat. You can visit or call a local branch location. You can follow Quontic on Facebook, Twitter, LinkedIn, and other social media sites.

Does Quontic offer bill pay?

Yes. You can pay bills through the Quontic online website or the mobile app.

Can I deposit cash?

Yes, at a local branch location. Certain ATMs may accept cash.

How long do transfers take?

Specific transfer times are not listed on the website.

Can I sign up for direct deposit to Quontic accounts?

Yes. Contact customer service to set up direct deposit.

Contact Contact Information

Quontic Bank
31-05 Broadway
Astoria, NY 11106

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