- High APY rates
- No monthly fees
- 90,000+ ATM locations
- No physical locations
- Limited support
- No cash deposits
|Minimum Opening Deposit:||$100|
|Free Debit Card:||Yes|
|Direct Deposit:||Not Required|
|In-Network ATM Access:||90,000+ Locations|
|Out Of Network ATM Access:||$3 per time|
Who Is It For?
- People who don't mind not having physical bank locations.
- Crypto enthusiasts that would like to option to earn crypto when making purchases with a debit card.
- People who prefer a higher APY earnings rate on their checking and savings accounts and are okay with not having a bank teller.
Pros & Cons
Quontic Bank Pros & Cons
- High-Interest APY Rates: Quontic offers some of the highest-interest APY rates on checking and savings accounts since it's an online-only bank.
- No Monthly Fees: No monthly fees are associated with any of Quontic's products.
- Ability To Earn Crypto: Quontic's Bitcoin Rewards Checking account offers unlimited 1.5% cash back in crypto when you make purchases with its debit card.
- ATM Locations: With over 90,000+ ATM locations, you won't have to worry about finding a place to get cash when needed.
- No Physical Locations: Quontic has no physical bank locations, so you'll have to do your banking online or through the mobile app.
- No Cash Deposits: Quontic doesn't accept cash deposits, so you'll need to find another way to deposit cash, like using a more traditional bank account with physical locations.
- Limited Support: Quontic bank only offers live support Monday – Friday from 9:00 AM – 6:00 PM (EST), so there is no 24/7 live support.
Quontic Bank Checking Accounts
Bitcoin Rewards Checking
The Bitcoin Rewards Checking account from Quontic Bank is one of the most unique checking accounts available. With this account, you'll earn unlimited 1.5% cash back in crypto when you make purchases with your debit card. Plus, there are no monthly fees.
The account is only available in select U.S. states, with a $500 minimum opening deposit. With this account, you can directly redeem your crypto in your account for cash or let it remain in BTC, so it can hopefully grow over time.
Cash Rewards Checking
If you're not interested in earning crypto, Quontic offers a Cash Rewards Checking account that earns unlimited cash back on debit card purchases. This account has no monthly fees.
You'll earn 1.50% cash back on all qualifying debit card purchases and a $100 minimum opening deposit.
For those who want to earn a high-interest rate on their checking account, Quontic offers a checking account that comes with a 1.10% APY. There are no monthly fees or service charges associated with the account.
However, there is a $100 minimum opening deposit, and you must charge the debit card at least $10 per month to keep this APY. Otherwise, your APY will be reduced to 0.01%.
Quontic Bank Savings Accounts
High Yield Savings
Quontic's High Yield Savings account offers a competitive interest rate of 3.70% APY. There are no monthly fees, and the minimums deposit is $100 to open an account.
It's important to remember you can only withdraw 6 times per payment cycle when you use this savings account.
For those who want to earn a higher interest rate on their savings, Quontic offers a Money Market Savings account that comes with a tiered interest rate. The current APY for this account is 3.70%.
Like the high-yield savings account, you can only withdraw 6 times per payment cycle.
Quontic also offers a CD account with a current APY of 4.45% for a 5-year CD, which is around 5x the national average. This account has a $500 minimum opening deposit, and you can choose terms ranging from 6 to 60 months.
There is a penalty for early withdrawals, so make sure you understand the terms before opening this account.
Quontic Bank Fees
|ATM Fee: In-Network||$0.00|
|ATM Fee: Out-Of-Network||$3.00 per use|
|Foreign Transaction Fees:||0.00%|
|Debit Card Replacement Fee:||$0.00|
|Money Order Fee:||$0.00|
Quontic Bank Support
Customer service hours are Monday – Friday from 9:00 AM to 6:00 PM (EST).
How Does Quontic Bank Compare?
Banking, loans, & More All In One
Sign-up bonus (Currently at $250)
Need direct deposit to get 4.50% APY
Live support can be slow
High APY savings account (4.65% APY)
Free ATM reimbursements (Up to $30/mo)
No ATM network
Mobile check deposits sometimes take a while to clear
Highest sign-up bonus ($150)
24/7 live support
Some accounts don't earn high-interest
Service fees can be high
Quontic Vs SoFi Bank
SoFi is a popular online bank that offers several financial products, including checking and savings accounts, personal loans, and investing products. SoFi has no monthly fees or minimum balance requirements on its checking and savings accounts. You can earn up to $300 in cash bonuses when you open a new account and meet certain deposit requirements. If you want an all-in-one banking platform, we recommend SoFi.
However, if you want the highest savings rates and don't mind having different accounts for credit cards, loans, and more, we recommend Quontic Bank.
Quontic Vs CIT Bank
CIT Bank is another online bank that offers several financial products, including checking, savings, and CD accounts. CIT Bank has no monthly fees and offers higher interest rates than Quontic Bank. If you are looking for a better savings product, we recommend CIT Bank since it offers higher APYs with no withdrawal limits.
However, if you want a debit card that earns cash back, Quontic Bank is your best choice since CIT bank does not have a cashback debit card.
Quontic Vs Fifth Third Bank
Fifth Third Bank is a brick-and-mortar bank with over 1400 locations in the Midwest and Southeast regions of the United States. Fifth Third offers several checking and savings products, personal loans, and credit cards.
However, it has no cashback debit cards or high-yield savings accounts. If you are looking for a more traditional bank with physical locations, we recommend Fifth Third Bank. However, if you are looking for higher interest rates and cashback on your debit card purchases, we recommend Quontic Bank.
Is Quontic Bank For You?
If you're looking for a top-rated full-service online bank, Quontic Bank is definitely worth considering. With high APY rates, no monthly fees, and the ability to earn crypto with its Bitcoin Rewards Checking account, Quontic offers value to its customers. However, it's important to remember that Quontic has no physical bank locations and only offers limited customer support hours. So, if you're okay with doing your banking online or through the mobile app and don't mind not having 24/7 live support, Quontic is a great option!
Quontic Bank FAQ
Is Quontic A Legit Bank?
Quontic is a legitimate bank that has been FDIC insured since 2009. Your accounts are insured up to $250,000 per depositor.
How does Quontic Earn Money?
Quontic earns cash by taking interest from loans and other banking fees. Since it's an online-only bank, it can maintain a much higher APY than most traditional banks.