Contents
Overall bank rating
Pros and cons
Annual Percentage Yield (APY)
1.70% APY
Minimum Deposit Amount
$100
- High APY
- No monthly service fees
- $100 minimum opening deposit
- Earn 1.70% APY with a Quontic High Yield Savings Account
- Start earning interest from Day 1 of your first deposit with no limit on how much you can earn.
- Open an account online in just 3 minutes
- Interest is compounded daily and credited to your account every month
Quontic High Yield Savings is a good savings account with a high rate and no monthly service fees. But if you want a savings account with more robust features, like savings buckets or automatic savings tools, you may want to look elsewhere.
Annual Percentage Yield (APY)
0.01% to 1.10% APY
Minimum Deposit Amount
$100
- Earn up to 1.10% APY on all balances
- Open an account online in just 3 minutes
- No monthly maintenance fees or minimums
- $100 minimum deposit required to open an account
If you’re looking for a high-yield checking account, Quontic High Interest Checking is a good choice. Some high-interest
checking accounts
only pay interest on balances up to a certain amount, but Quontic pays a high rate on your entire balance. Just be sure you can qualify for the high rate by making at least 10 debit card purchases every month, that are at least $10.
Quontic has some other strong rewards checking accounts, too. Cash Back Rewards Checking pays up to 1.50% cash back. Bitcoin Rewards Checking lets you earn Bitcoin, which you can exchange for cash later if you prefer. Bitcoin Rewards is only available in certain states right now, though.
Annual Percentage Yield (APY)
1.26% to 2.86% APY
Minimum Deposit Amount
$500
- Competitive APY
- $500 opening deposit
- Limited term options
- High early withdrawal penalties
- Term lengths: 6 months, 1 year, 2 years, 3 years, 5 years
- Early withdrawal penalties: All interest earned for terms under 1 year, 1 year of interest for 1-year terms, 2 years of interest for terms of 2 years or longer
- Interest compounded daily, paid monthly
- FDIC insured
Quontic pays competitive rates on CDs, but it doesn’t have many term options to choose from. It could be a good fit if you want a 6-month, 1-year, 2-year, 3-year, or 5-year CD. Quontic charges high penalties if you need to withdraw money before your term ends. If you’re worried you’ll need to make an early withdrawal, you may prefer to open a CD with a bank that charges lower fees, or even to open a no-penalty CD.
Annual Percentage Yield (APY)
1.76% APY
Minimum Deposit Amount
$100
- Competitive APY
- $100 minimum opening deposit
- No monthly service fees
- Includes a debit card and paper checks
- No out-of-network ATM fees
- Doesn’t reimburse any fees charged by out-of-network ATM providers
- Earn up to 1.76% APY with a Quontic Annual Percentage Yield with a Quontic Money Market Account
- No Monthly Maintenance or Overdraft Fees
- $100 minimum deposit required to open an account
The Quontic Money Market Account pays a high interest rate compared to other money market accounts.
Money market accounts are similar to savings accounts, except the former makes it easier to access your money. Money market accounts usually send you either a debit card or paper checks so you can spend money without transferring funds to a checking account first. The Quontic Money Market Account sends you both a debit card and paper checks. It could be a useful emergency fund so you can tap into savings instantly.
How does Quontic work?
Quontic is an online bank. You can use 28,000 MoneyPass ATMs around the US for free. Quontic won’t charge you for using an out-of-network machine, but the ATM provider might.
Quontic does have a mobile app, but there aren’t many online reviews yet. So far, the app has 4.6 out of 5 stars in the Apple store, and 3.4 out of 5 stars in the Google Play store.
To contact Quontic customer support, call or chat online Monday through Friday, 9:00 a.m. to 6:00 p.m. ET.
Your deposits are FDIC insured for up to $250,000, or $500,000 for joint accounts.
Quontic trustworthiness and BBB rating?
The Better Business Bureau gives Quontic an A+ rating. A good BBB score indicates a company responds effectively to customer complaints, is transparent about business practices, and advertises honestly.
Quontic doesn’t have any recent public scandals. Between its clear history and strong BBB grade, you may decide you’re comfortable banking with Quontic.
Quontic review vs. Discover review
We’ve compared Quontic to two other banks with
high-yield savings accounts
and rewards checking accounts: Discover and Axos.
Quontic and Discover have comparable high-yield savings accounts. If you want a cash-back checking account, you have potential to earn more with Quontic. Discover Cashback Debit Account
pays 1% cash back on up to $3,000 in purchases every month, while Quontic Cash Rewards Checking offers 1.5% cash back on up to $2,000 in purchases per day.
But you may prefer Discover if you’re more comfortable using a big-name bank. Discover’s mobile app has tens of thousands of Google Play reviews and millions of Apple reviews, with great scores overall. Discover also offers 24/7 live customer support.
Quontic review vs. Axos Bank review
Quontic and Axos both have good high-yield checking accounts, but you’ll need $250 to open an Axos High Yield Savings Account.
If you want a high-yield checking account, you may prefer Axos. You have the potential to earn a higher rate, as long as you meet the criteria. You’ll probably like Quontic better for a cash-back checking account, though. The Axos CashBack Checking Account only offers 1% cash back, and it drops to 0.50% if your average daily balance falls below $1,500.
