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Quontic Bank Review 2024: Banking With High APYs On All Accounts

Quontic Bank customers enjoy competitive rates, earning high-yields on checking, savings, money market accounts and certificates of deposit.

Quontic Bank is an innovative and socially responsible U.S.-based digital bank headquartered in Astoria, New York City. Quontic is a digital-first bank, but with loan offices in New York (Melville, Flushing) and Miami, Florida for in-person assistance.

Customer service is 100% US-based support that includes phone-based, chat live, request a call or speak through your computer’s audio. Deposit accounts are protected and Quontic is FDIC-insured.

Quick Overview

Quontic is the best choice if you enjoy earning interest that far exceeds the national average.

Quick Overview

Quontic is the best choice if you enjoy earning interest that far exceeds the national average.

Highly-Rated Mobile Banking App

Quontic's banking app is rated 4.8 out of 5.0 in both the Apple Store and Google Play.

The app's intuitive navigation and clean design make banking tasks simple and enjoyable. Customers can easily access account balances, quick transfers, and bill pay options.

iOS app rating: 4.8/5 stars
Android app rating: 4.8/5 stars

Quontic Bank History

The bank has roots dating back to 2005 when it was known as Golden First Bank. Over the years, it underwent changes, including a rebranding to Quontic Bank in 2018, with a focus on serving underserved communities.

Today, Quontic Bank focuses on online banking services with no physical branches and certified as a Community Development Financial Institution (CDFI) that aims to serve underserved communities and promote financial inclusion.

Quontic Bank Review

Quontic Bank offers several different checking accounts including high-interest, cash back and wearable checking.

Quontic High Interest Checking details

We chose to review the Quontic's high-interest checking account because it's a way to make your money work harder for you. Even small amounts of interest earned on your everyday spending balance can add up over time.
Annual percentage yield (APY) 1.10% (as of May 13, 2024)
Minimum opening deposit $100
Required transactions for APY 10 qualifying debit card transactions of $10 or more per statement cycle
ATM access Over 90,000 surcharge-free ATMs nationwide
Monthly maintenance fees None

Quontic High Interest Money Market details

Money market accounts combine the features of savings and checking accounts by offering customers high interest plus a debit card and check-writing for easy access to funds.
Annual percentage yield (APY) 5.00% (as of May 13, 2024)
Minimum opening deposit $100
Features Remote check deposit, bill pay, and account transfers. Make and receive payments to your contacts.
ATM access Over 90,000 surcharge-free ATMs nationwide
Monthly maintenance fees None

Quontic High-Yield Savings details

Customers can count on the Quontic savings account to offer an APY that’s consistently over 10x higher than the national average and higher than what traditional banks offer.
Annual percentage yield (APY) 4.50% (as of May 13, 2024)
Minimum opening deposit $100
Compounding frequency Interest compounded daily
Features You can request an ATM card
Monthly maintenance fees None

Quontic Certificates of Deposit (CDs) details

Quontic offers highly competitive CD rates across terms ranging from six months to five years, with a relatively low opening deposit of just $500.
6 Months CD 5.05% APY (as of May 13, 2024)
12 Months CD 4.50% APY (as of May 13, 2024)
24 Months CD 4.50% APY (as of May 13, 2024)
3-Years CD 4.40% APY (as of May 13, 2024)
5-Years CD 4.30% APY (as of May 13, 2024)
Early Withdrawal Penalty Yes

Does Quontic work with Zelle?

Yes. Quontic Bank works with Zelle as well as other digital payment solutions like Apple Pay, Google Pay and Samsung Pay.

What we like about Quontic Bank

  • Technology-driven. Provides a user-friendly online banking experience with a highly-rated banking app. Plus, Quontic is ahead of the banking industry with a wearable debit card ring technology. 
  • Community focus. Offers financial products and services tailored to underserved communities.
  • Competitive rates. Offers competitive rates on deposits and loans.
  • Strong social impact. Invests in community development initiatives.

What could improve about Quontic Bank

  • Limited physical presence. No physical branches may be inconvenient for some customers.
  • Newer bank. May not have the brand recognition of larger banks.
  • Limited product offerings. May not offer all the products and services as larger banks.

Final takeaway

Quontic Bank provides online and mobile banking options for customer convenience to provide accessible banking services.  

The bank has been recognized for its efforts to serve diverse and underserved communities, including immigrants and individuals with non-traditional banking needs. 

Overall, it is competitive with the best online banks that offer free checking and high-yield savings accounts.

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Best online savings rates

The national savings rate is 0.47% APY. This online bank pays way more.

CIT Bank

Platinum Savings
5.05% APY
Minimum $5,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured


5.21% APY
Minimum $1,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured

Quontic Bank

4.50% APY
Minimum $100 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured
Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.

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