Quontic Bank


Overview / Commentary
800-908-6600
31-05 Broadway,
Astoria, NY 11106

Quontic Bank is the 1,602nd largest bank in the nation. It was established in 2005 and as of September of 2023, it had grown to 203 employees. Quontic Bank's money market rates are 11X the national average, and it has a C+ health rating.

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Demand Account

Posted by: |

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 the bank will not budge on. Customer service will call when they have a question or if anything looks suspicious. I don’t do checking accounts very much these days. My account over there does large deposits and funds CDs seeing large in and out activity which the bank seems OK with. I will be keeping my Quontic checking account open for the foreseeable future.

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.

Worst Bank Ever (Too Much Security)

Posted by: |

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

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.

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Health
C+

Data as of Q3 2023

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
Employees203
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.21%
Return on Equity - YTD-1.51%
Annual Interest Income$29MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$561.1MM$793.4MM
LoansQ3 2023vs Q3 2022$413.3MM$475MM
DepositsQ3 2023vs Q3 2022$458.7MM$661.2MM
Equity CapitalQ3 2023vs Q3 2022$81.1MM$84.5MM
Loan Loss AllowanceQ3 2023vs Q3 2022$478K$226K
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$16.9MM$12.3MM
Real Estate OwnedQ3 2023vs Q3 2022$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%-$1mHigh Yield Savings Account

Quontic Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%--Personal Money Market

Quontic Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%--High Interest Checking

Quontic Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.30%$500-1 Year CD
5.05%$500-6 Month 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.