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Quontic Online Bank Logo

Quontic Bank Reviews

8.5

bestfor-icon No monthly service fees and minimal other fees

angelawatson
Written by Angela Mae

About Quontic Bank | Read More

8.1

LS Score

9.4

Credibility

8.6

Support

8.0

Accessibility

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Opening Hours Opening Hours drop-down-btn
Mon - Fri 9:00 AM - 6:00 PM EST
Sat - Sun Closed
Contact Information Contact Information drop-down-btn
  • cucstomerservice@quonticbank.com
  • (800) 908-6600
  • Headquarters: Manhattan, New York One Rockefeller Plaza, 9th Floor New York, NY 10020
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Quontic Bank Online Banking Review

Quontic Bank’s online banking service includes several accounts — checking, savings, money market, and Certificates of Deposit (CDs). These accounts come with minimal fees, low deposit requirements, and have high rates, making them both competitive and accessible.

Quontic Bank Online Banking Highlight

$100

Min Deposit

90,000 fee-free ATM locations

ATM Network

Yes

Other Fees

Online Banking Savings

$100

Min Deposit

Min 4.50%

Min APY Savings

Online Banking Checking

$100

Min Deposit

0.01-1.10%

Min APY Checking

Pros & Cons

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  • con-icon Quick and easy online process
  • con-icon Free access to more than 90K ATMs
  • con-icon No monthly or overdraft fees
  • con-icon One branch with in-person banking
  • con-icon Deposit only through money transfer

Account types

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  • Checking
  • Savings
  • Certificates of Deposit (CD)
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APY's

Account Terms
High-interest Checking

1.10% APY on all balance tiers when you make 10 qualifying transactions of $10 or more per statement cycle
High-yield Savings 4.50% APY (10x higher than the national average
Certificate of Deposit

3 months: 4.95% APY

6 months: 4.60% APY

12 months: 4.00% APY

24 months: 3.35% APY

36 months: 3.25% APY

60 months: 3.00% APY
Money Market

5.00% APY on all balance tiers

Opening an Account With Quontic Bank

Opening an account with Quontic Bank is simple and straightforward.

Choose the right account
Step 1

Choose the right account

Personal information
Step 2

Personal information

Confirm your email address
Step 3

Confirm your email address

Opening an account with Quontic Bank can be done entirely online. Start by clicking “Open an Account” from the website’s menu. If you’ve already opened an account or started an application, the information will be saved, and you can continue from where you left off.

From there, the process is straightforward and takes only a few minutes to complete. Begin by choosing the account that you want to open. Then, you’ll need to provide the following information:

  • Full name
  • Email address
  • Phone number
  • Whether you want a joint account

You’ll receive a confirmation email to the email address you inputted. Enter the code and continue the process. Then, continue filling out the application. Once that’s done, simply make the minimum opening deposit and you’re good to go.

State Availability

- Available in all states

Quontic Bank Certificate of Deposit Review

Quontic Bank is a digital bank that offers a range of deposit accounts with competitive rates and affordable minimum deposit requirements. Quontic Bank offers a Certificate of Deposit (CD) with an APY of 4.95% for a 3-month term. The minimum deposit to open a CD account with Quontic Bank is $500.

Quontic Bank Certificate of Deposit Highlight

4.95%

3m Highest CD Rate

4.60%

6m Term CD

4.00%

12m Term CD

$500

Minimum Deposit

$500

Minimum Balance

No monthly service fee

Monthly fee

Yes

Daily Compounded Interest

Yes

Early withdrawal penalty

Pros & Cons

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  • con-icon No monthly service fees
  • con-icon Highest rate on 6-month CD
  • con-icon FDIC insured
  • con-icon $500 minimum deposit required
  • con-icon Funding account only through money transfer

Account types

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  • 3m Highest CD Rate 4.95%
  • 6m Term CD 4.60%
  • 12m Term CD 4.00%
  • 24m Term CD 3.35%
  • 36m Term CD 3.25%
  • 60m Term CD 3.00%
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Quontic Bank Certificate of Deposit Terms & Requirements

  • Minimum deposit: The minimum deposit to open a CD at Quontic Bank is $500.
  • Term lengths: Quontic Bank offers CDs with terms ranging from three months to five years.
  • Interest rates: Quontic Bank’s interest rates on CDs are competitive. As of October 2024, the highest APY is for a 3-month CD at 4.95%.
  • Early withdrawal penalties: Withdrawing from a CD before maturity subjects the account to an early withdrawal penalty, which depends on the length of the CD term.
  • FDIC insurance: Your money in a Quontic Bank CD account is FDIC insured up to $250,000.
  • Monthly fees: There are no monthly fees for CD accounts.
  • Open a CD account: You can open a CD online at Quontic Bank’s website.
  • Open a CD by phone: You can also open a CD by phone by calling Quontic Bank’s customer service number.

How to Apply

Qualification Requirements

  • Age: You must be 18 to open a Quontic Bank CD account.
  • Citizenship: You must be a U.S. citizen or permanent resident to open a Quontic Bank CD account.
  • Social Security Number: You must have a valid Social Security Number or tax ID number to open a Quontic Bank CD account.
  • Minimum deposit: The minimum deposit to open a CD account is $500.

Withdrawal Penalty

Term of Deposit  Amount of Interest
Up to 12 months  Interest for the full length of the term 
12 – 24 months  1 Year of Interest 
24+ months 2 Years of Interest 
  • If the accrued interest exceeds the penalty amount, the excess accrued interest over the penalty amount will be paid to you.
  • If the accrued interest is less than the penalty amount, a reduction of the principal balance may result.

State Availability

- Available in all states

angelawatson
Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.

faq-icon

FAQ’s

Does Quontic have any in-person branches?

No, Quontic Bank is digital-only and has no physical branches.

What types of banking products does Quontic offer?

Quontic has a high-interest checking account, cash rewards checking account, high-yield savings account, a money market account, and Certificates of Deposit.

What types of mortgage products does Quontic have?

Quontic has flexible mortgage loans, which it offers based on the individual’s entire financial profile. It has Community Development Loans, conventional mortgages, VA loans, and FHA loans.

Customer Support

Quontic has received mostly favorable reviews regarding the representatives’ helpfulness. The team tends to respond quickly to emails and has very short wait times on the phone—often within the first couple of rings.

Privacy & Security

Quontic strives to be transparent about how it collects, uses, shares, and protects customer information. As an FDIC member, deposits are guaranteed by up to $250,000.

Quontic only shares public personal information with its affiliates and non-affiliates regarding data sharing. The bank also offers theft protection on eligible deposit accounts and various other protections, such as multi-factor authentication.

On Trustpilot, Quontic has 589 reviews and 3.9 out of 5 stars. Some customer reviews note the security features for setting up and accessing their account, which a few suggested need improvement.

In Conclusion

Quontic Bank has roots as a community bank but has been building a reputation as a national, digital bank focused on its customers. The bank takes an interesting approach to digital banking and lending, particularly regarding its mortgage programs, which range from FHA to VA loans.

What stands out about Quontic is that it’s FDIC-insured, has low fees on its checking, savings, and CD accounts, and has high rates. They also have several security measures, such as ID theft protection and zero liability protection for their Mastercard. Their US-based support team is also widely recognized for its superior customer service.

Brand Disclaimer

© 2024 Quontic Bank All rights reserved. Member FDIC. Equal Housing Lender. NMLS ID: 403503

Disclaimer:

* Must be a Quontic bank customer for at least 60 days prior to submitting a loan application. Underwriting fee savings valued at $1,500.

1National Rates and Rate Caps

2Rate is as of August 15, 2024 and is subject to change. Rates may vary per product type. Ask for details.
 
3Certificate of Deposit. Minimum $500 to open account. Withdrawals before the maturity date are subject to penalties. Fees could reduce earnings. Additional terms, conditions, fees & exclusions may apply. Annual Percentage Yield (APY) and information is accurate and effective as of August 15, 2024. Subject to change without notice.
 
4Quontic Bank is not affiliated with or acting on behalf of or at the direction of Federal Housing Authority (FHA) or any government agency or government sponsored entity. All lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Information is accurate as of August 15, 2024 & is subject to change without notice.