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Quontic’s adaptive model of digital banking grants it a number of advantages over traditional banks. It has no monthly service fees, and high interest accounts may be opened for as little as $100. Additionally, as a community development financial institution, or CDFI, Quontic can cater to low-income, immigrant, and underserved households and businesses by offering community development loans and flexible loan programs.
In addition to its suite of traditional banking services, Quontic also provides cutting-edge banking services. Its Pay Ring offers a stylish twist on contactless payments, giving you all of the functions of a debit card in the form of a wearable payment ring.
Thanks to its roots in community banking, Quontic offers numerous traditional banking services. Through its mortgage lending department, borrowers can apply for investment property loans, reverse mortgages, FHA loans, and VA loans. With its Quontic debit card, you can earn 1.5% cash back each month on qualifying purchases. While its New York office is the only physical branch location, account holders can use over 90,000 ATMs nationwide surcharge free.
Quontic does not charge a monthly service fee, and has recently removed overdraft charge fees, and excess transaction fees. Money market accounts offer interest rates from 5.00%¹, while CDs offer an APY of up to 5.30%, and its high-yield savings accounts offer a 5.00% interest rate.
| Minimum balance to open account | Minimum balance to earn interest | Interest rate | Transaction limits | |
| 1-Year CD | $500 | N/A | 5.30% | No more than 6/month |
| 2-Year CD | $500 | N/A | 4.60% | No more than 6/month |
| 6-Month CD | $500 | N/A | 5.05% | No more than 6/month |
| Money market | $100 | N/A | 5.00% | No more than 6/month |
Customer service representatives are available via phone and live chat 9:00am-6:00pm ET, Monday-Friday.
Quontic’s mobile app is available for iOS and Android devices so you can access your account anytime and everywhere. It includes many of the same features as your online account, such as bill pay, alert management, and money transfers. You can use several money transfer programs including Zelle and Google Pay inside the app, and mobile check deposits make adding funds to your Quontic account easy.
At Quontic, your accounts carry FDIC insurance up to $250,000. All information sent to Quontic’s processing center is encrypted and transmitted through secure communication channels. To secure its website and mobile app, it uses 128-bit RC4 encryption. Additionally, it’s easy to set up email and SMS activity alerts that let you know when a transaction takes place in your account.
Quontic digital banking services include high interest checking, money market, and savings accounts with no monthly service fees or overdraft fees. Accounts owners can use over 9,000 ATMs nationwide surcharge free, and have access to traditional banking services including mortgages and CDs. Its Bitcoin Rewards and Cash Rewards accounts earn owners 1.5% cashback and Bitcoin on qualifying purchases, respectively. Customer service representatives are available 9am-6pm ET, Monday-Friday via phone, chat, and email.
This review was generated using information on the company’s website and online reviews.
1Ask for details. Additional terms, conditions, fees & exclusions may apply. Rates may change without notice. If the account is closed before interest and/or bonus is credited, accrued interest and/or bonus may be forfeited for that statement cycle. Fees could reduce earnings. In order to sign up for online banking, you must have a Quontic Bank account. Mobile banking requires enrollment through online banking. Data connection required. Wireless carrier fees may apply. There is no charge from Quontic Bank for account alerts, but message & data rates may apply. Mobile check deposit is available for select mobile devices. Subject to eligibility & further review. Deposits are subject to verification & not available for immediate withdrawal. Deposit limits & other restrictions may apply.
Online Account Opening is only available to consumers. Ask for details. Data connection required to open an account online. Wireless carrier fees may apply. Application is subject to approval & further review. Information is accurate as of the date listed below and may change without notice.
