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Quontic Bank High Yield Savings
4.4
★★★★★
Finder score
On Quontic Bank's secure site
APY
4.50%
Fee
$0
Minimum deposit to open
$100

Our verdict

A digital savings account that comes with an ATM card and an impressive interest rate.

The Quontic Bank High Yield Savings account sets itself apart from the crowd with its impressive interest rate. You’ll earn 4.5% APY without worrying about meeting any balance requirements or tiers, and there are no monthly fees. You can also request an ATM card that gives you access to over 90,000 free ATMs. And you’ll need $100 to open the account and start earning interest.

Best for: Those who want a savings account with high APY and ATM access.

Pros

  • High 4.5% APY
  • No monthly fee
  • Optional ATM card
  • 90,000+ ATMs nationwide

Cons

  • No physical branches
  • $100 opening deposit
  • Costly outgoing wires

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

What we like about Quontic Bank HYSA

Quontic Bank’s HYSA has a high APY that places it among some of the best savings accounts in the market. And with no monthly fees, you won’t have to worry about anything chipping away at your hard-earned balance. Its 4.5% APY is over 11 times the national average (1), and interest is compounded monthly.

Comes with ATM card

Not many savings accounts offer access to your funds with an ATM card — but this one does. You can request your free optional ATM card at any time so you can withdraw your funds at any of Quontic’s large network of 90,000 ATMs nationwide.

Where it falls short

Quontic’s main downside is that as a digital bank, you won’t have access to any physical branches. If you prefer in-person customer service and the convenience of branches, this might be a dealbreaker for you. While Quontic has a few loan offices located in New York and Florida, none can assist you with personal banking needs.

Another small downside is the $100 opening deposit, which you must transfer from an existing external account. While it’s a rather common requirement among high-yield accounts, many other free savings accounts don’t require any cash up front, such as UFB’s Secure Savings, which currently earns 5.25% APY.

Some miscellaneous fees to watch out for

While there are no monthly maintenance fees, there’s a monthly dormant account fee of $5 a month if you don’t use your account after a year.

Also, wire transfers are pricey, costing $25 for outgoing domestic wires and $35 for outgoing international wires — plus correspondent fees, which aren’t listed. So if you need to wire money often, this wouldn’t be the account to do it with.

Compare Quontic Bank HYSA to other savings accounts

Narrow down top savings accounts by APYs, monthly fees and opening deposits. For an even better comparison, tick the Compare box on up to four providers to see features side by side.

1 - 6 of 29
$
Name Product Account type Annual Percentage Yield (APY) FDIC or NCUA insured amount Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
SoFi Checking and Savings
Finder Score: 4.6 / 5: ★★★★★
Bonus
SoFi Checking and Savings
Traditional savings,Checking

4.60%

0.50%

1.20%

Up to $250,000
$0
$0
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
$1,046
BrioDirect High-Yield Savings
Finder Score: 4.4 / 5: ★★★★★
BrioDirect High-Yield Savings
Traditional savings

5.35%

Up to $250,000
$25
$5,000
$1,053.50
Barclays Online Savings
Finder Score: 4.3 / 5: ★★★★★
Bonus
Barclays Online Savings
Traditional savings

4.35%

Up to $250,000
$0
$0
Get a $200 bonus when you open a new savings account, deposit $25,000 within 30 days of opening and maintain the balance for 120 days. Terms apply
$1,043.50
Cash App Savings
Finder Score: 4.4 / 5: ★★★★★
Cash App Savings
Savings app

4.50%

1.50%

Up to $250,000
$0
$1
$1,045
Customers Bank High Yield Savings through Raisin
Finder Score: 4.6 / 5: ★★★★★
Customers Bank High Yield Savings through Raisin
Traditional savings

5.11%

Up to $250,000
$0
$1
$1,051.10
UFB Secure Savings
Finder Score: 4.7 / 5: ★★★★★
UFB Secure Savings
Traditional savings,Custodial account

5.25%

Up to $250,000
$0
$0
$1,052.50
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Customer experience

Quontic Bank is an online-only bank, and despite most online banks doing horribly in customer feedback, Quontic comes in to surprise us with its high ratings and mostly positive reviews. It has a stellar A+ Better Business Bureau (BBB) rating, with only 20 BBB complaints in the last three years. Most banks have thousands of complaints, especially online ones.

The handful of customer complaints are typical, with a few claiming difficulties contacting customer service and a long account closing process. However, nearly every complaint is noted as resolved and customers report the resolution was satisfactory — likely resulting in Quontic’s high BBB rating.

On Trustpilot, Quontic Bank earns a strong 4-star rating with over 500 reviews, which is impressive, considering most people only leave negative reviews for financial institutions. Customers are pleased with Quontic’s checking, savings and CDs. Many others cite helpful, friendly and patient representatives and a quick application process.

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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Bethany Finder

Writer, Banking and Loans

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