Quontic Bank

Overview / Commentary
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 718th largest bank in the nation. It was established in 2005 and as of March of 2021, it had grown to 250 employees at 3 locations. Quontic Bank has a B+ health rating.

Related Posts

Quontic Bank Brings Back Its 5-Year CD - 7/13/2021

Quontic Bank is again offering a nationally available 5-year CD, after an absence of about a year. Minimum opening deposit is $500, with no stated balance cap.

Quontic Bank Increases All CD Rates - 6/12/2021

Quontic Bank has raised the rate on all its nationally available CDs (6-month, 1-year, 2-year, and 3-year terms.) Minimum opening deposit is $500.

Quontic Bank Adds Tiered APYs To Its High Interest Checking - 5/20/2021

Quontic Bank (NY) has changed the structure of its nationally available High Interest Checking, adding three new tiered APYs that significantly lower potential earnings.

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

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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.

Tiered Rate Effective 5/17/21

Posted by: |

The new monthly requirement to qualify for the 1% rate is 10 debits / $10 each. The rate decreases ON THE ENTIRE BALANCE if it exceeds $100K.

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..



Data as of Q1 2021

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

Health Grade Components

FDIC Certificate #57807
Year Established2005
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.61%
Return on Equity - YTD37.57%
Annual Interest Income$9.3MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.42B$480.8MM
LoansQ1 2021vs Q1 2020$1.27B$345.9MM
DepositsQ1 2021vs Q1 2020$511.0MM$386.5MM
Equity CapitalQ1 2021vs Q1 2020$62.7MM$47.4MM
Loan Loss AllowanceQ1 2021vs Q1 2020$1.5MM$1.1MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$2.4MM$2.3MM
Real Estate OwnedQ1 2021vs Q1 2020$0$3.9MM
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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

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

Quontic Bank Money Market Rates

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

Quontic Bank Checking Account Rates

1.01%*-$100kHigh Interest Checking
OTHER TIERS: 0.35% $250k - $1m | 0.65% $100k - $250k

Quontic Bank CD Rates

1.11%$500-5 Year CD
1.00%$500-3 Year CD
0.75%$500-2 Year CD
0.60%$500-1 Year CD
0.55%$500-6 Month CD

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

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