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 48th largest bank in the state of New York. It is also the 708th largest bank in the nation. It was established in 2005 and as of December of 2020, it had grown to 212 employees at 3 locations. Quontic Bank has a B+ health rating.

Everything Impressive -- But Bank May Catch You In A Rate Change

Posted by: |

Everything about Quontic's customer service is great. BUT: the bank reserves the right to change your contracted deposit rate after you've completed your application. I went to fund my CD account the moment they put the small trial deposits into my ACH funding account -- only to be told that since the rate had dropped since i started the application, they would not honor the original higher rate. The customer (myself) was not the delaying factor here; I did not use snail mail to fund the account, and i did not wait a moment past the trial deposits appearing to complete the process. Changing rates after an application has been made is simply not customer friendly. Too bad, because customer service interactions were very good. .... Subsequently, I went back to customer service, and they DID promise to honor the original 12-month rate. See updated comments below. I am changing my original rating, to reflect management's willingness to hear their customer's requests that original application deposit rates be honored. Customer reps continue to be polite and professional, and the service is as quick as Ally bank, which has been my most efficient bank til now. Latest rates for cd's are no longer the highest as of today, but rates were very competitive up through last week. Hats off to Quontic management for reversing direction in favor of customers.

Yeah I Don't Know

Posted by: |

Rate seems among the better but between the chat and calling in to find out, I was told there are no external transfers out of your deposited money for 90 days, and that the only access would be through an ATM with a limit of $1,000/day. With a 6 transaction limit per month, that's a limit of $6,000 per month you could access of your money if you go to the ATM for 6 separate days. After 90 days, $25K per day limit, but it seems like your money would be tied up for the first month and a half just FYI.

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

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+

Data as of Q4 2020

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #57807
Year Established2005
Employees212
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD13.29%
Annual Interest Income$29.7MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$1.38B$394.7MM
LoansQ4 2020vs Q4 2019$1.26B$300.7MM
DepositsQ4 2020vs Q4 2019$427.5MM$318.9MM
Equity CapitalQ4 2020vs Q4 2019$58.3MM$40.7MM
Loan Loss AllowanceQ4 2020vs Q4 2019$1.5MM$1.1MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$2.2MM$1.6MM
Real Estate OwnedQ4 2020vs Q4 2019$0$3.9MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Quontic Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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
0.55%-$1mHigh Yield Savings Account
0.50%*-$250kDrawbridge Savings Account
OTHER TIERS: 0.01% $250k+

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

Quontic Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-3 Year CD
0.70%$500-2 Year CD
0.65%$500-1 Year CD
0.60%$500-6 Month CD
Locations


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

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