Quontic Bank

Overview / Commentary
One Rockefeller Plaza, 9th Floor
New York, NY 10020

Quontic Bank is the 1,153rd largest bank in the nation. It was established in 2005 and as of June of 2022, it had grown to 384 employees. Quontic Bank's money market rates are 8X the national average, but it has a C health rating.

Related Posts

Do NOT Buy CD From Quontic!!! - 1/24/2023

BEWARE of QUONTIC CD’s!!!! Their cancellation terms are UNREALISTIC! You forfit ALL interest earned for the entire CD including the time period you may not have actually incurred. In over 30 years of investing in CD’s and over close to a hundred banks I’ve dealt with, I’ve NEVER seen these kind of cancellation terms. If I were you, I’d invest somewhere else. You’re welcome in advance.

Quontic Bank MMA and High Yield Savings Are New Rate Leaders - 7/14/2022

Quontic Bank (internet bank) has increased its Personal Money Market and High Yield Savings APYs to rate-leading levels. Minimum opening deposit $100.

Quontic Bank Money Market Now 1.85% APY - 7/13/2022

Money Market Account EARN 1.85% APY https://www.quontic.com/money-market-account/

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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.

Good Luck Getting Funds In Or Out Of This Bank

Posted by: |

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.

Astonishing. Still In Disbelief.


They closed my accounts with no warning.

After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. Not sure why. They won't say why. It was a legit payroll check.They actually accepted the other 2 checks. Same exact payroll company, same everything.

But get this. Instead of reaching out, or rejecting the deposit, they simply closed all my accounts and cutoff all access to my funds. I can't even look at my account info online. No warning.

And even after many calls back ad forward, they now understand it's not my fault and that there was no intention to defraud. Yet they are still closing my accounts and refusing to even let me look at balances, etc...

They are sending me a check (yes, really) for the balance of my accounts. Will not tell me how much.

This is absolutely insane.




Data as of Q2 2022

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Quontic Bank has a negative return on equity.

Health Grade Components

FDIC Certificate #57807
Year Established2005
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-5.12%
Return on Equity - YTD-46.55%
Annual Interest Income$18.7MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$835.4MM$1.28B
LoansQ2 2022vs Q2 2021$635.7MM$1.08B
DepositsQ2 2022vs Q2 2021$667.2MM$546.0MM
Equity CapitalQ2 2022vs Q2 2021$84.3MM$74.9MM
Loan Loss AllowanceQ2 2022vs Q2 2021$290.00K$941.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$11.5MM$9.4MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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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

3.70%-$1mHigh Yield Savings Account

Quontic Bank Money Market Rates

3.50%--Personal Money Market

Quontic Bank Checking Account Rates

1.10%--High Interest Checking

Quontic Bank CD Rates

4.45%$500-1 Year CD
4.40%$500-2 Year CD
4.30%$500-5 Year CD
4.30%$500-3 Year CD
3.75%$500-6 Month CD

Quontic Bank is an Internet only bank and does not have branch locations. Its headquarters is located at One Rockefeller Plaza, 9th Floor - New York, NY 10020

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