Quontic Bank Review 2023 (Earn up to 5.60% APY)

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Quontic Bank High Interest Checking Account pays high interest rates overall, but be sure you're eligible to earn the best rates on its high-yield interest checking and money market accounts.

Quontic Bank Review

Quontic Bank High Yield Savings Account 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 4.3 out of 5 stars in the Apple store, and 3.3 out of 5 stars in the Google Play store.

To contact Quontic customer support, call or chat online Monday through Friday, 9 a.m. to 6 p.m. ET.

Your deposits are FDIC insured for up to $250,000, or $500,000 for joint accounts.

Is Quontic Bank Trustworthy?

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 Bank Overall Rating

Quontic Bank Pros and Cons

Quontic Bank High Yield Savings Rate

Quontic Bank High Yield Savings Account is a solid savings account with a high rate and Quontic High Yield Savings Account - Fees Display. But if you want a savings account with more robust features, like savings buckets or automatic savings tools, you may want to look elsewhere.

Quontic Bank High Interest Checking Rates

If you're looking for a high-yield checking account, Quontic Bank High Interest Checking Account 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 1% 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.

Quontic Bank CD Rates

Quontic 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.

Quontic Bank Money Market Account Rates

The Quontic Bank Money Market Account has one of the best money market accounts out there.

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 Bank 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 Quontic Bank Compares

Quontic Bank vs. Discover Bank

We've compared Quontic to two other banks with high-yield savings accounts and rewards checking accounts: Discover Bank and Axos.

Discover savings rates are slightly lower than what the Quontic High Yield Savings Account offers right now. 

If you want a cash-back checking account, it could be a toss-up between the two banks. Discover Cashback Debit Account pays 1% cash back on up to $3,000 in purchases every month, while Quontic Cash Rewards Checking offers 1% cash back for up to $50 in rewards per statement cycle.

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 Bank vs. Axos Bank

If you're strictly looking for a high interest rate on a savings account, you'll prefer Quontic over Axos. The Quontic High Yield Savings Account pays Quontic High Yield Savings Account Annual Percentage Yield (APY), while the Axos High Yield Savings Account only offers up to Axos High Yield Savings Account.

Quontic and Axos both have good high-yield checking accounts. With Axos, you have the potential to earn a slightly higher rate, as long as you meet the criteria. You'll probably like Quontic better if you don't meet the criteria at Axos. 

See Insider's list of the best high-yield savings accounts »