Quontic Bank


Overview / Commentary
800-908-6600
One Rockefeller Plaza, 9th Floor
New York, NY 10020

Quontic Bank is headquartered in New York and is the 57th largest bank in the state of New York. It is also the 897th largest bank in the nation. It was established in 2005 and as of June of 2020, it had grown to 127 employees at 3 locations. Quontic Bank has a B+ health rating.

Request Electronic Statements To Avoid Fee

Posted by: |

There is no “sneaky” statement fee. It was incorrectly charged and reversed for those who signed up for e-statements. The $5 fee is assessed for printed statements and is in line with what many other banks charge.

Dodgy Mistakes

Posted by: |

With the same thing occurring to a few of the folks who post here over a length of time this explanation of the 'mistaken' fee is suspicious.

Good afternoon Mr. _______,

Thank you for your recent inquiry regarding the $5.00 statement fee. We apologize for any inconvenience, and I have gladly refunded back the fee to your account today August 26,2020. The issue that occurred was that we noticed our system started charging customers for electronic statements. Once we notice this happening, we started going through each customers account and reversing the fee. Now that the issue is resolved this shouldn't happen again. You will see the reversal on your next statement. We are sorry for any inconvenience this may have caused you.

Thank you for banking with Quontic

Fees And Disclosures

Posted by: |

I'm sure this is a fine bank with good customer service, but there is no search engine to find the fees or disclosures. Via chat, I requested a fees document and was given a link which was just the disclosure gibberish with no amounts specified for fees on various transactions. Such documents should be easy to retrieve. Also, they do not have an IRA savings or money market, which means you have to act fast to move an IRA CD when mature. Too much hassle.

Don't Bite

Posted by: |

They post online a very high APY on CD's. After you fill out all the preliminaries and get to the funding of your CD you will find that in reality there is no high yield CD currently offered like what's posted on the web page.
You've just been phished. Not today or the immediate day after but soon enough. Enter false info first as a test to see if there is even a CD offered by this outfit. You'll get a lot of spam emails in your financial email account even if you abort your CD purchase..

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Health
B+

Health Grade Components

Overall
FDIC Certificate #57807
Year Established2005
Employees127
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.43%
Return on Equity - YTD6%
Annual Interest Income$10.9MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.01B$394.0MM
LoansQ2 2020vs Q2 2019$889.3MM$279.8MM
DepositsQ2 2020vs Q2 2019$417.0MM$315.4MM
Equity CapitalQ2 2020vs Q2 2019$48.3MM$38.6MM
Loan Loss AllowanceQ2 2020vs Q2 2019$2.0MM$1.8MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$2.8MM$4.9MM
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Quontic Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$250kDrawbridge Savings Account
OTHER TIERS: 0.01% $250k+
0.20%-$1mHigh Yield Savings Account

Quontic Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$150k*-Personal Money Market
OTHER TIERS: 0.30% Up to $5k | 0.35% $5k - $150k

Quontic Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%-$1mHigh Interest Checking
Locations


Quontic Bank Locations
Quontic Bank1 Rockefeller PlzNew York, NY 10020
Astoria Branch31-05 BroadwayAstoria, NY 11106

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