Founded in 2009, Quontic Bank began as a community bank in New York City and has since become online-only. Quontic Bank is insured by the Federal Deposit Insurance Corp. (FDIC), and a part of a fee-free ATM network made up of 90,000 ATMs across the country. It offers several checking accounts, savings accounts, certificates of deposit (CDs), and mortgage products.
Rates are current as of Nov. 20, 2025 and are subject to change.
Quontic Bank
Quontic Bank
| Checking accounts | Starting at $0 per month |
| Savings accounts | Open with as little as $100 |
| CD rates | Earn up to 3.75% annual percentage yield (APY) |
at Quontic
- Year Founded: 2009
- Company Headquarters: Astoria, NY
- CEO: Steve Schnall
at Quontic
Who is Quontic Bank good for?
Quontic Bank is good for those who are comfortable doing all of their banking online and want to access deposit accounts with competitive interest rates and good customer service.
Cash-back checking accounts are comparatively hard to find and Quontic’s Cash Rewards Checking earns 1% cash back on debit card purchases. This is an appealing alternative to a cash-back credit card, since there’s no risk of carrying a balance with interest charges that outweigh the value of any rewards earned with a debit card.
Who shouldn’t use Quontic Bank?
If you want in-person banking or to have all your banking products under one roof, you’ll probably want to look elsewhere.
Quontic Bank is an online-only bank with strong checking and savings options. However, it doesn’t offer credit cards, auto loans, personal loans, or home equity lines of credit (HELOC), and it doesn’t offer business banking accounts. Therefore, if you choose to bank with Quontic Bank, you’ll need another institution for those types of accounts.
Pros
- No monthly fees
- Competitive interest rates
- Strong customer service
Cons
- No customer support on weekends
- No physical branch locations
- No lending other than mortgages
- No business accounts
Quontic Bank rates and products
Quontic Bank offers several products, including checking accounts, savings accounts, CDs, and money market accounts (MMAs).
Checking accounts
Quontic Bank offers two different free checking accounts: the High Interest Checking and the Cash Rewards Checking. To earn the highest APY on the High Interest Checking Account you have to make at least 10 qualifying debit card point of sale transactions of $10 or more per statement cycle. Neither charges a monthly fee and both require a minimum opening deposit of $100 . Neither account has a welcome bonus as of this writing.
Both checking accounts come with the Quontic Pay Ring. This is a physical ring you can wear on your finger that allows you to make purchases with a tap. It’s similar to tapping your card or phone at the checkout, but you don’t need to take anything out of your pocket. It may be ideal for when you are out and about but don’t want to carry anything, such as if you are going for a run or standing in a busy checkout line and you don’t want to fumble with your wallet.
Quontic Bank also has an extensive ATM network. There are no fees at Allpoint, MoneyPass, SUM, or Citibank ATMs located in Target, Speedway, Walgreens, CVS, Kroger, Safeway, 7-11, Winn-Dixie, and Circle K. That’s over 90,000 ATMs.
The accounts also work with Zelle, Google Pay, Samsung Pay, and Apple Pay.
To earn the highest interest rate you’ll need to make at least 10 debit card transactions per statement cycle. These transactions must be point-of-sale (POS) purchases of at least $10. If you don’t meet this requirement, you’ll only earn 0.01% APY. So, it can be worth the effort.
POS transactions are purchases at a retailer, either online or in person. Transactions that don’t count include person-to-person transfers, such as Venmo, ATM transactions, transfers between accounts, and loan payments made with your debit card.
Instead of earning interest, the Cash Rewards Checking account earns cash back on debit card purchases. You can earn up to $50 per statement in cash back. That’s up to $5,000 in spending per month.
Qualifying transactions are purchases made at a retailer. Transactions that don’t qualify for cash back are person-to-person transfers, ATM transactions, transfers between accounts, loan payments, and funding another account with your debit card. Also, if you get cash out when checking out at a store, the cash-back withdrawal portion of the transaction will not qualify to earn cash back.
Savings accounts
The high-yield savings account from Quontic Bank offers a competitive APY with no monthly service fees and a low minimum opening deposit requirement of $100.
For easy access to your funds, you can request an ATM card. Note that it is not a debit card, but it will allow you to withdraw money at one of Quontic Bank’s 90,000 participating ATMs.
Interest compounds daily but is credited to the account on a monthly basis.
Money market accounts
Quontic Bank offers an MMA that earns a generous 4.25% APY. It offers a debit card and paper checks, and you can also get the Quontic Ring with this account.
MMAs can be thought of as a hybrid of savings accounts and checking accounts. Typically, they offer the higher rates of a savings account with the easy access to checking accounts. It’s not uncommon for MMAs to have transaction limits or other restrictions that prevent them from being used as a checking account. Here’s a quick primer on MMAs if you want to learn more.
However, Quontic Bank is different. For this account, there are no transaction limits, so you could even use it as your primary checking account, which makes this a great choice as an everyday account.
To earn the top interest rate, you do not need to meet any balance or transaction requirements. You’ll also have access to mobile deposit, bill pay, Zelle, Google Pay, Samsung Pay, and Apple Pay.
Certificates of deposit
Quontic Bank also has CD accounts with terms that range from six months to five years, all with competitive interest rates.
Like most CDs, your money will be locked away for the term of the CD in exchange for a fixed interest rate. You can learn more about how CDs work here.
Other services Quontic Bank offers
- Mortgage loans: Quontic Bank offers various types of home loans, including conventional loans, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, and community development loans.
- Mortgage refinancing: Quontic Bank’s home refinance program can potentially benefit homeowners looking to secure a better rate on their mortgage.
- Equity loans: Home equity loans are a second mortgage on your home; however, it does not offer HELOCs.
Is Quontic Bank secure?
Quontic Bank is secure and it uses all the modern security measures you can expect from a bank. Deposit accounts at the bank are FDIC-insured, which means customers are protected from bank failure for up to $250,000 per owner, per account type. If the bank were to fail, the U.S. government would return any lost funds.
Quontic Bank also uses up-to-date technology to protect your account from fraud and data breaches and none of your information is shared with third parties.
To prevent fraud, they have multi factor authentication (MFA) to log into your accounts and never ask for account information via email or text. Both of these measures help stop thieves from gaining access to your accounts.
The Quontic Bank platform and customer support
Quontic Bank offers online and mobile banking platforms. Its application is available for download on the Apple App Store and Google Play and has ratings of 4.8 and 4.6 stars, respectively.
You can contact a United States-based customer service representative via live chat and telephone Monday through Friday between 9 a.m. and 6 p.m. Eastern Time. While researching for this article, we contacted customer support via chat for clarification of its products. The wait to speak with a live representative was short, and the agent was friendly and knowledgeable.
Quontic Bank user reviews
Quontic Bank has a 4.0-star rating on Trustpilot with over 600 reviews. Customers say they love the stellar customer service they received, often calling out employees by name to say they went above and beyond. Reviewers also say the account setup was quick and easy.
The negative reviews mostly focus on its account applications being denied and being unable to set up an account.
Compare Quontic Bank alternatives
If for some reason Quontic doesn’t satisfy what you’re looking for, two popular online banks you may wish to consider as you select an alternative are SoFi and Capital One.
 Quontic Bank |  SoFi® Member FDIC |  Capital One |
|---|---|---|
| Top savings APY | Top savings APY | Top savings APY |
| 3.50% | Get up to 3.30%.1 Get a 0.70% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply.2 | 3.30% |
| Top checking APY | Top checking APY | Top checking APY |
| 1.10% | 0.50% | 0.10% |
| Top CD APY | Top CD APY | Top CD APY |
| 3.85% on a 3-month CD | N/A | 3.90% on a 1-year CD |
| Learn more | Learn more | Learn more |
| View offer at Quontic | View offer at SoFi | View offer at MoneyLion |
Is Quontic Bank right for you?
Quontic Bank could be right for you if you’re seeking one of their standout deposit accounts. This online bank offers a highly competitive APY on a high-yield savings account, a strong money money market account with no transaction limits and a rewards checking account— and it’s worth noting the latter two options are generally rare to find.
You’d have to be comfortable banking entirely online as there are no in-person banking options. Overall, customers report good customer service and easy-to-use accounts, and Quontic has a vast network of fee-free ATMs.
However, while it does have good options for basic personal banking, Quontic Bank doesn’t offer business accounts. It also doesn’t offer credit cards, auto loans, or HELOCs, so you’ll likely have to have accounts at other banks if you want these products. If you want all your banking done in one place, Quontic Bank may not be for you.
Frequently asked questions
Is Quontic Bank a legitimate bank?
Yes. Quontic Bank is a legitimate, FDIC-insured bank. Deposits are protected up to $250,000 per depositor for each account ownership category.
Who started Quontic Bank?
Steve Schnall founded Quontic Bank in 2009.
Does Quontic Bank have any branch locations?
No. Quontic Bank is a digital bank that operates online. However, it does have loan offices in New York, Florida, and Arizona.
SoFi disclaimer
1:
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
2: 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
