Quontic Bank

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

Quontic Bank is headquartered in New York and is the 80th largest bank in the state of New York. It is also the 1,517th largest bank in the nation. It was established in 2005 and as of March of 2020, it had grown to 145 employees at 3 locations. Quontic Bank's money market rates are 2X the national average, and it has a B+ health rating.

Related Posts

Quontic Bank Offers Competitive CDs, Checking and Money Market - 5/20/2020

Quontic Bank's nationally available rewards checking account, High Interest Checking, currently earn 1.50% APY on qualifying balances up to $1 million.

Quontic Lowers Rates To 1.46% APY, High Balance Required - 5/16/2020

Used to be 1.6%, now lowered to 1.46% APY and requires $150k to get it. https://www.quonticbank.com/personal-money-market/

Quontic Drops Rates On MM & HYS & CD's - 3/12/2020

It was just a matter of time... HYS is 1.65% with $10,000 minimum balance. MM is 1.60% with $150,000 minimum balance (I'm not certain but wasn't the top tier $100,000 before?) or 1.50% with $5,000 minimum balance. CD's all terms are 1.80%. Their rates are not terrible in the big scheme of things but I'm moving some funds to Ally.

View all posts from:

Reviews (8)

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.


Posted by: |

Ly Nguyen is great !!! She works very dedicated, thoughtful, devoted to customers. She helps me whenever I need it even after working hours. I love her customer service !!! thank you very much Ly Nguyen !!!

Excellent Experience

Nathalia is very kind,attentive and dedicated to her work whenever I call she is willing to help I love her service.

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.

$5 Fee Monthly Statement

Posted by: |

I was charged a $5 fee for the monthly statement. Quontic charges this fee even if you opt for electronic statements.

Web interface is very basic. Customer service does not respond to the online message.

$5 Electronic Statement Fee?

Advertised rate was very confusing, so I ended up with a lower rate than expect. Online application and set-up was complicated (I have opened multiple online accounts, this was the worst). Then I was charged a $5 electronic statement fee, which lowered my interest rate substantially. Avoid this bank.

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..

Merry-Go-Round : & A Repeat Performance

Posted by: |

First CD app. led to aback &forth on the form & ended in an unanswered phone call on the week end. Second appl. attempt led interest payment pg & edit button called for reloading which became a blank appl. again. For a lousy $50 difference in interest went to seamless appl. elsewhere. Good luck to the persevering.

From necessity tried for another CD. After some 40 mins, doing an on-line appl. I got down to step 3 "verifying payments" be for it all got lost somehow.


Health Grade Components

FDIC Certificate #57807
Year Established2005
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.58%
Return on Equity - YTD5.78%
Annual Interest Income$5.2MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$480.8MM$364.0MM
LoansQ1 2020vs Q1 2019$345.9MM$286.6MM
DepositsQ1 2020vs Q1 2019$386.5MM$310.8MM
Equity CapitalQ1 2020vs Q1 2019$47.4MM$37.6MM
Loan Loss AllowanceQ1 2020vs Q1 2019$1.1MM$1.8MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$2.3MM$1.1MM
Real Estate OwnedQ1 2020vs Q1 2019$3.9MM$0
Report an Issue

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

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

Quontic Bank Money Market Rates

1.01%*$150k*-Personal Money Market
OTHER TIERS: 0.80% Up to $5k | 0.90% $5k - $150k

Quontic Bank Checking Account Rates

1.50%-$1mHigh Interest Checking

Quontic Bank CD Rates

1.28%$500-60 Month CD
1.21%$500-48 Month CD
1.17%$500-36 Month CD
1.11%$500-24 Month CD
1.02%$500-12 Month CD

Quontic Bank Locations
Quontic Bank1 Rockefeller Plaza, 9th Flr.New York, NY 10020
Astoria Branch31-05 BroadwayAstoria, NY 11106

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.