• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Quontic review

Quontic review

Moneywise.com / Moneywise.com


Updated: January 02, 2024

Partners on this page provide us earnings.
Quontic logo


Commissions and fees5

Customer service4

Savings options4

Interest rates4

Ease of use4

Quontic offers competitive rewards checking accounts as well as a variety of savings products. It's an excellent no-fee digital banking solution for extra cash or an emergency fund. But don't expect a full-service bank with investing options.

These days, there are a number of online-only banks offering a variety of banking products and services. 

But not all digital banks are created equal. And many of the newer players in the space often cap rewards and interest rates at low thresholds, or have hidden fees.

Enter Quontic, a long-standing, digital-only bank that has excellent rewards checking accounts and a variety of savings products. If you're looking for a safe, competitive online bank to store your cash, it could be exactly what you're looking for.

Our Quontic review covers all of the major bank account types they offer, current interest rates and perks so that you can decide if this is the right banking solution for you.

About Quontic

Quontic is an online-only bank that began in 2009. It's best known for its high-yield savings account and other savings products, as well as its lending and mortgage services.

If you're looking for a full-service online bank with a brokerage element or financial advisors, you might want to consider another bank. But for a practically no-fee digital bank with excellent checking and savings products, Quontic is certainly worth exploring further.

Quontic pros and cons



  • No monthly account fees

  • Competitive interest rates on cash balances

  • FDIC-insured

  • Low account minimum opening requirements for most accounts



  • No physical branches

  • No weekend customer phone support

  • Doesn't accept cash deposits

Quontic banking accounts

High-interest checking

One of Quontic's main checking accounts is its high-interest checking account that currently pays 1.10% APY on all balance tiers. There aren't any account fees, and the minimum account opening requirement is only $100.

The Quontic high-interest checking account requires you make at least 10 qualifying debit card point-of-sale transactions of $10 or more per statement cycle to qualify for the highest APY. Otherwise, your APY drops to 0.01% APY.

This checking account also provides fee-free withdrawals at participating AllPoint, MoneyPass, SUM, and Citibank ATMs. But the 1.10% APY is the main selling point, so consider this account if you're willing to do some monthly spending with your debit card.

Cash Rewards Checking

The Quontic Cash Rewards Checking account pays you 1.00% APY at the time of writing on all settled point-of-sale debit card transactions. There aren't any account fees, and the minimum opening requirement is only $100.

You have to spend with your debit card quite regularly for this account to make sense, but 1.50% is very competitive for a checking account.

Note that transactions like ATM transactions, account transfers, peer-to-peer payments, and loan payments don't qualify as POS transactions.

High-yield savings account

One of Quontic's best accounts is its high-yield savings account. It currently pays 4.50% APY, and there aren't any monthly fees. Plus, the minimum account opening requirement is only $100, and interest compounds daily and is paid out monthly.

You can only make six withdrawals per statement cycle. But this account is still an excellent home for an emergency fund or some extra cash you're waiting to invest.

Some other mobile banks have higher interest rates. For example, Current and Varo can pay up to 4% and 5% APY respectively. But these accounts cap at around $5,000, whereas Quontic doesn't have a balance cap for its APY.

Open a Quontic high-yield savings account

Quontic money market account

With a Quontic money market account, you can earn 5.00% APY, making it another competitive option for your emergency fund or cash. Like its savings account, there's a $100 minimum opening requirement and limit of six transfers per statement cycle.

With no account fees and a high interest rate, the Quontic money market account is one of the better money market accounts available right now.

Open a Quontic MMA

Bitcoin Rewards Checking

If you want to gradually add Bitcoin to your portfolio instead of earning regular cash back, Quontic's Bitcoin Rewards Checking account could be for you.

This account pays you 1.50% cash back in Bitcoin for every debit card transaction. Once you make a point-of-sale (POS) transaction, your card earns USD that's used to purchase Bitcoin the following day at 4pm London Time. Your Bitcoin is held in a separate account from NYDIG, not Quontic. Bitcoin rewards don't expire, and you can redeem your crypto into cash at any time for a 2% fee.

There's a $500 minimum account opening requirement. Overall, this account provides a simple way to diversify your portfolio with a bit of crypto without using an exchange. However, the 2% fee to cash out your Bitcoin is a downside, so this account is really only worth it if Bitcoin appreciates and you hold long-term.

Also note that options like the Coinbase Card or BlockFi Card support a larger number of coins and can pay higher crypto-back rates.


CD provides a safe, fixed-income investment that's useful if you're willing to lock-up your money for a certain period of time. And Quontic offers some excellent CD rates at varying terms, with all terms having a $500 minimum opening requirement.

More: Will CD rates continue to rise?

At the time of updating this, Quontic's CD terms and rates are as follows:

6 months
1 year
2 years
3 years
5 years

You can face early redemption penalties if you redeem a CD before maturation. Penalties vary depending on the CD term, so make sure you don't need the funds you're depositing to protect your gains.

If you're looking for more flexible CD options, our post on the best no-penalty CD rates is worth checking out.

Open a Quontic CD today

Other Quontic features

Aside from its checking and savings products, Quontic also offers mortgages, community development loans, VA loans, and mortgage refinancing. And many customers use Quontic for its lending services, not just its digital banking options.

What I like about Quontic is that it's also quite forward thinking and, frankly, a bit more fun than your average bank.

For example, you can actually visit Quontic in the metaverse if you hop into Decentraland to chat with visitors and even acquire exclusive NFTs. And it also launched the Quontic Pay Ring, a wearable ring that lets you use funds from your Quontic Checking Account instead of relying on your debit card.

Will small features like this make you switch to Quontic? Probably not. But I like that this digital bank is innovating its accounts and offerings while also providing very competitive rates.

Quontic bank fees and minimums

Quontic doesn't charge any monthly account fees for its checking, savings, or money market accounts. However, you may pay a $5 monthly inactivity fee if your account becomes dormant. Quontic doesn't specify what time period counts as being inactive, but it provides you with written notice of the pending charges before actually charging you.

These days, the leading online banks are all practically fee-free, so it's nice that Quontic is staying competitive and eliminating fees wherever possible.

Is banking with Quontic safe?

As a Quontic customer, you get up to $250,000 in FDIC insurance for your deposits. This includes every account type, not just a checking or savings account. This level of coverage is in-line with other mobile banks, and it makes Quontic safe to deposit your money with.

How to contact Quontic

You can reach Quontic customer support by calling 1-800-908-6600. Phone customer support is available 9 am to 6 pm EST, Monday through Friday.

The company has a 4.4 star rating on Trustpilot, with many positive reviews relating to Quontic's separate mortgage service as well as its attentive customer service team. However, a lack of weekend phone customer support is a small downside.

Best Quontic alternatives

We like Quontic for its lack of fees and competitive interest rates for its high-yield savings and money market accounts. But it also holds its own against the competition in the world of rewards checking accounts and CDs.

However, some other mobile banks also offer excellent savings products and checking accounts. Plus, some of Quontic's competitors also have more investing and fixed-savings products.

Capital One
CIT Bank
Savings, Checking, CDs
Savings, Checking, Money Market, CDs
Savings, Checking, Money Market, CDs
Online Deposits
Physical Branches
FDIC Insurance
ATM Reimbursement 
Open an account

Ally is one of our favorite alternatives if you're looking for something more full-service. It has competitive savings products but also lets you invest through Ally Invest or its robo-advisor. And you don't have to worry about account fees for most accounts, just like Quontic.

CIT Bank has some of the best high-yield savings, CDs, and money market accounts out there. And if you're willing to open an eChecking account with CIT Bank, its Savings Connect account pays a higher interest rate than Quontic's high-yield savings account.

Capital One 360 is an excellent alternative if you want to open a rewards checking account for your teen or try its competitive 360 Performance Savings account.

Bottom line

While Quontic isn't a full-service online bank like some of its competitors, but it excels at what it does offer: competitive checking and savings products. If you're tired of bank fees and want to earn meaningful interest on your cash, it's certainly worth considering.

As mentioned, some online banks offer higher interest rates but cap your earnings at a certain dollar amount. So, don't be afraid to park some cash with accounts from companies like Aspiration, Current, and Varo. You can then move your remaining cash to a bank like Quontic to maximize the interest you earn.

Tom Blake Staff Writer

Tom Blake is a staff writer who specializes in cryptocurrency, investing, and passive income.


The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.