Quontic Bank is the 1,497th largest bank in the nation. It was established in 2005 and as of June of 2024, it had grown to 194 employees. Quontic Bank's money market rates are 11X the national average, and it has a B health rating.
Related Posts
7/13 - Quontic Bank Money Market Now 1.85% APY
7/11 - Quontic Bank Personal Money Market Is New Rate Leader
6/23 - Quontic Bank Ups Money Market Rate To 1.50%APY
6/7 - Quontic Bank 1-Year and 2-Year CDs Are New Rate Leaders
12/9 - Quontic - "Earn Up To .60% APY With Our New MMA Rates"
9/15 - Quontic Bank Revamps High Interest Checking Rate Structure
7/13 - Quontic Bank Brings Back Its 5-Year CD
6/12 - Quontic Bank Increases All CD Rates
5/20 - Quontic Bank Adds Tiered APYs To Its High Interest Checking
9/14/20 - Quontic Bank High Interest Checking Remains Competitive
8/28/20 - Quontic's Top MM Rate Cut To 0.90%
5/20/20 - Quontic Bank Offers Competitive CDs, Checking and Money Market
5/16/20 - Quontic Lowers Rates To 1.46% APY, High Balance Required
3/12/20 - Quontic Drops Rates On MM & HYS & CD's
2/14/20 - Quontic Drops Rates - HYS Is Now 1.9% APY (Down From 2.05%)
1/2/20 - Money Market Dropped .15% (From 2.2% To 2.05% APY)
12/9/19 - Quontic Bank's Personal Money Market Has Competitive Rates
9/30/19 - Quontic Bank's Amplify Interest Checking Earns 2.00% APY Up To $1M
9/5/19 - Rate Reduction On Money Market Acct
7/3/19 - 12-Month CD 2.85% Annual Percentage Yield
7/3/19 - Quontic Bank's 12-Month CD (2.85% APY) Available Nationwide
11/12/18 - Money Market Account, Up To 2.40% APY
2/8/12 - Competitive CD Rates at Quontic Bank in New York - Local Only
Yeah I Don't Know
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.
Good Luck Getting Funds In Or Out Of This Bank
Quontic's ACH limits are $2000 inbound or outbound. I was told that if I wanted to move funds into my Quontic account, I should initiate it through another bank. Sorry, but I'll find a bank with realistic ACH limits. As a side note, one rep told me that if I initiate an incoming ACH transfer through Quontic that there is no limit. Another rep corrected that statement and told me $2000.
Couldn’T Verify Me
I’ve held a checking account in good standing at Quontic bank for about 3 years. I went to take out a CD from them but my application was held up them saying they couldn’t verify me. I took my money someplace else and not bother with Quontic because the country is just teeming with 5% plus CDs. I keep getting emails from them asking me to complete my application.
Everything Is Just Fine
Small bank, great rates, especially their high interest checking. Been with them for about one year.
Data as of Q2 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57807 |
| Year Established | 2005 |
| Employees | 194 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.11% |
| Return on Equity - YTD | -0.9% |
| Annual Interest Income | $21MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $621.3MM$577.7MM |
| Loans | Q2 2024vs Q2 2023 | $488MM$417.7MM |
| Deposits | Q2 2024vs Q2 2023 | $512.3MM$466.7MM |
| Equity Capital | Q2 2024vs Q2 2023 | $79.8MM$82.2MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $573K$279K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $21.7MM$12.7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |