In this guide

  • Our verdict
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
Quontic Bank Money Market
4.6
★★★★★
Finder score
On Quontic Bank's secure site
APY
5.00%
Fee
$0
Minimum deposit to open
$100

Our verdict

Enjoy its competitive APY, and access your cash with a debit card, checks and a large free ATM network.

The Quontic Bank Money Market account earns up to 5% APY on all balances — significantly higher than the national average of 0.68%. Alongside the fact it offers one of the highest APYs we've seen for a money market savings account, you'll also get a debit card and checkwriting privileges. And there are no monthly or overdraft fees. To open the account, you'll need at least $100. Just know that Quontic is an online bank, so it doesn't have any physical branches.

Best for: Those in need of an accessible high-yield savings account.

Pros

  • High 5% APY
  • No monthly or overdraft fees
  • Debit card and checkwriting privileges
  • Access to over 90,000 ATMs

Cons

  • $100 opening deposit
  • No physical branches

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Who is the Quontic Bank Money Market best for?

If you’re in need of regular access to your savings, the Quontic Bank Money Market is worth considering. It’s got a great APY with no balance tiers to earn the high rate. You’ll also get a debit card and checkwriting privileges.

But if you want to avoid the temptation of dipping into your savings and don’t need a debit card, then a traditional savings account may be a better fit.

What we like about Quontic’s money market account

Earn 5% APY on your account balance, which is nearly nine times the national average for money market accounts (MMAs), which currently sits at 0.68%(1). Quontic’s APY compounds daily, and interest is credited every month at the end of your statement cycle.

Quontic’s MMA is a front-runner, even compared to other accounts with similar APYs. There are a few other top MMAs with slightly higher rates, but most of those don’t come with a debit card or offer checkwriting privileges.

Few fees

There are no monthly maintenance or overdraft fees. Many other money market accounts charge monthly maintenance fees of around $25 or more. You also won’t pay anything for money orders, statements, cashier’s checks or incoming domestic wire transfers.

Large ATM network

Quontic has a large free network of over 90,000 ATMs. You can use your debit card with no fees from Quontic at qualifying Allpoint, MoneyPass, SUM and Citibank ATMs. Quontic is also integrated with Zelle, so you can make peer-to-peer payments.

Where Quontic Bank Money Market falls short

This account is pretty straightforward and doesn’t have many downsides. However, you’ll need to make a $100 minimum opening deposit. Although $100 is pretty average comparatively, a good number of MMAs have low $1 opening deposit requirements.

Like most money market savings accounts, you’re limited to six withdrawals and transfers per month. And if you make a transaction outside that limit, you’ll pay a $10 fee for every transaction.

Also, Quontic Bank doesn’t have the largest customer service window we’ve seen, with support hours only on weekdays from 9 a.m. to 6 p.m. ET. Quontic Bank doesn’t have any physical branches, which is a common downside with online banks. But there are a few loan offices in Florida, Indiana and New York.

Compare Quontic Bank Money Market to other MMAs

Narrow down top money market accounts by APY, insurance coverage, opening deposits and more. For a closer comparison, select the Compare box on up to four providers to see features side by side.

{"visibility":"visibilityTable","ctaLabel":"Calculate","tableCode":"savings_calculator_table","nicheCode":"USFSA","fields":[{"name":"PERIOD","value":"1","options":"","label":"Years to save","suffix":"","useSuffixAsPrefix":false,"useDropDownOption":false,"tooltip":""},{"name":"INITIAL_DEPOSIT","value":"1000","options":"","label":"Initial deposit","suffix":"$","useSuffixAsPrefix":true,"useDropDownOption":false,"tooltip":"Select Calculate to see your estimated total balance based on the current APY for each product below"}]}
1 - 6 of 14
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
Quontic Bank Money Market
Finder Score: 4.6 / 5: ★★★★★
Quontic Bank Money Market
Money market

5.00%

Up to $250,000
$0
$100
$1,050
CIT Bank Money Market
Finder Score: 3.9 / 5: ★★★★★
CIT Bank Money Market
Money market

1.55%

Up to $250,000
$0
$100
$1,015.50
Great Lakes FCU MMA through Raisin
Finder Score: 4.7 / 5: ★★★★★
Great Lakes FCU MMA through Raisin
Money market

2.40%

Up to $250,000
$0
$1
$1,024
Key Select Money Market Savings®
Finder Score: 3.3 / 5: ★★★★★
Key Select Money Market Savings®
Money market
Up to

2.92%

Up to $250,000
$0
$5,000
Earn 4.00%-4.50% Interest Rate (2.41-2.92 blended APY) for 6 months. Rate available on balances of $25,000 to $1,999,999.99 with an increase in total relationship balances of at least $25,000. See specific rate for your location here
$1,029.20
Axos Bank High Yield Money Market account
Finder Score: 4.1 / 5: ★★★★★
Axos Bank High Yield Money Market account
Money market

0.25%

Up to $250,000 individual
$0
$1,000
$1,002.50
Axos Bank Business Money Market
Finder Score: 3.6 / 5: ★★★★★
Bonus
Axos Bank Business Money Market
Money market

0.20%

Up to $250,000
$0
$1,000
If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus.
$1,002
loading

Customer experience

Quontic Bank is accredited by the Better Business Bureau (BBB) and earns an A+ rating, which is based on how well a company responds to complaints and interacts with customers.

All in all, Quontic does very well in terms of customer reviews and ratings. There are only a few BBB complaints — most online banks have hundreds or thousands. Quontic also takes the time to respond to grievances. The handful of complaints are mostly unique circumstances regarding CDs, closing personal accounts and issues contacting customer service.

On Trustpilot, Quontic also does well. The positive reviews outshine the poor ones, with most customers praising the bank and customer service. Quontic offers a suite of banking and lending products, so the reviews aren’t all in reference to just banking products. Overall, customers are happy with customer support, interest rates on savings products and the speed of opening new accounts.

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.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Bethany Finder

Writer, Banking and Loans

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site