Quontic Bank High Yield Savings account review
A savings account that comes with an ATM card and an impressive interest rate.
finder.com’s rating: 4.6 / 5.0
The Quontic Bank High Yield Savings account lets you earn 0.55% APY on any balance. But you’ll need at least $100 to open it.
Minimum deposit to open
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The Quontic Bank High Yield Savings account sets itself apart from the crowd with its impressive interest rate. You’ll earn 0.55% APY without worrying about meeting any balance or deposit requirements. Plus, there are no monthly fees. It also includes an optional ATM card so you can access your money, but make sure you don’t pass the usual six monthly limit you’ll find with other bank accounts.
Overall, this is a good savings account. But if you’re still unsure, compare other high-yield savings account options.
How do I open a Quontic Bank High Yield Savings account?Quontic Bank claims that you can open an account in less than three minutes. Here’s what the enrollment process looks like:
- Click Apply now.
- Choose Open an account.
- Select Get started under High Yield Savings.
- Input your name, email and phone number. If you’re an existing customer, you can sign in to pull up your saved information.
- Enter the verification code that was sent to your email.
- Answer the questions to confirm your identity.
- Fund your account by logging in to your current bank using Plaid or manually entering your bank’s routing and account numbers.
To qualify for a Quontic Bank High Yield Savings account, you’ll need to be:
- At least 18 years old
- A US citizen
Have the following info on hand when applying for a new account:
- Full name
- Home address
- Social Security number
- Date of birth
- A government-issued ID
What are the benefits of a savings account with Quontic Bank?
Consider the following reasons to sign up for a Quontic Bank High Yield Savings account:
- No monthly service fees. This account won’t cost anything to maintain it.
- Strong interest rate. Earn 0.55% APY on any balance, which is compounded daily and has no limit on how much you can earn.
- ATM card. While most banks don’t offer ATM cards with savings accounts, this High Yield Savings account comes with one. But bear in mind that you’re still limited to six withdrawals per month. You’ll pay a $10 fee for any transactions over the limit.
What should I look out for?
Be aware of the following drawbacks before signing up for a new account:
- Requires an external account. You can only use a bank-to-bank transfer to fund your account for the first time.
- Opening deposit. Unlike some banks with no opening deposit, Quontic Bank requires a minimum deposit of $100.
- Overdraft fee. It’ll cost you $35 each time a transaction drops your account below $0.
Quontic Bank’s ATM network and feesQuontic Bank partners with four ATM networks to offer 90,000 surcharge-free ATMs. You can withdraw cash from:
- AllPoint Network
- MoneyPass Network
- SUM program
- Citibank ATMs located in Target, Walgreens, CVS, Kroger, Speedway, Safeway, Winn Dixie and Circle K.
Compare Quontic Bank High Yield Savings with other savings accounts
How do I deposit or withdraw my money?Quontic Bank offers multiple options to access your funds:
- Remote check deposit via its mobile app
- Account transfers
- Direct deposit or ACH transfer
- Wire transfers
- ATM withdrawals
- Bill pay
- Account transfers
- Wire transfers
What other savings options does Quontic Bank offer?
Aside from its High Yield Savings account, you can choose two other savings products:
- Quontic Bank Money Market Account. This account has no monthly fee, comes with a debit card and earns up to 0.6% APY, depending on your account balance.
- Quontic Bank CD. Certificates of deposits with terms that range from 6 months to 5 years and competitive interest rates between 0.45% and 1.11% APY. Requires a minimum of $500 to open.
How to contact Quontic Bank about my savings account?
Speak to a representative about your account by:
- Chatting with a customer service representative weekdays 9 a.m. to 5:30 p.m. ET.
- Calling 800-908-6600 weekdays 9 a.m. to 5:30 p.m. ET.
- Emailing email@example.com
Savings account ratings
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★★★★★ — Subpar
★★★★★ — Poor
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