Quontic Bank


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.

Demand Account

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I found Quontic High Interest Checking when I was looking for somewhere paying acceptable interest during the pandemic. The customer service is very patient and helpful. There is a daily withdrawal/spending limit of $2000 and a low monthly withdrawal cap the bank will not budge on. It took 3 days of withdrawals to complete a $5800 purchase. Now that interest rates have gone up I’ve been using this account to fund CDs cash inCDs, bonds and other securities. They don’t mind large in and out transfers in lieu of traditional checking account activity. It takes a week to transfer money to if I overdraw and try to fix my problem. No fee for overdraft which is good in my case.

Worst Bank Ever (Too Much Security)

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I love a secure bank, but there comes a point when the security gets obnoxious, and Quontic has passed that threshold.

First, to log onto the online banking on your computer you MUST have your phone to receive a code every time.

Second, their app does not permit biometric log-ins.

Third, they only just now "approved" putting full account numbers on online banking, but they happily will send it to you in the mail on a statement, which is illogical.

Fourth, they randomly decline many online debit card transactions with no explanation at all.

While I love the cash back, Quontic has worn out its welcome with me. Back to my old Ally account I go!

Good Luck Getting Funds In Or Out Of This Bank

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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.

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Health
B

Data as of Q1 2024

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
Employees197
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.25%
Return on Equity - YTD-2.04%
Annual Interest Income$10.4MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$682.2MM$583.7MM
LoansQ1 2024vs Q1 2023$404.5MM$390.3MM
DepositsQ1 2024vs Q1 2023$586.5MM$471.2MM
Equity CapitalQ1 2024vs Q1 2023$79.7MM$81.4MM
Loan Loss AllowanceQ1 2024vs Q1 2023$479K$301K
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$24.4MM$14.6MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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
4.50%$0$1mHigh Yield Savings Account

Quontic Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$0-Personal Money Market

Quontic Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$0-High Interest Checking

Quontic Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.05%$500-6 Month CD
4.50%$500-1 Year CD
4.50%$500-2 Year CD
4.40%$500-3 Year CD
4.30%$500-5 Year CD
Locations

Quontic Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 31-05 Broadway, - Astoria, 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.