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Quontic Bank Money Market account review

Earn 3.5% APY, one of the highest we’ve seen. Plus, a debit card and no monthly fees.

finder.com’s rating: 4.6 / 5.0

★★★★★

The Quontic Bank Money Market lets you write checks and earn 3.5% APY, the same as other money market accounts.

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3.50%

APY

$0

Fee

$100

Minimum deposit to open

Details

Annual percentage yield (APY)3.50%
Fee$0
Minimum deposit to open$100
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
More infoGo to site

Review by


Kimberly Ellis is a personal finance writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

Like most money market accounts, Quontic Bank Money Market account comes with ATM and debit card access while earning one of the highest interest rates we’ve seen for any savings account.

If you request a debit card, you can spend directly from this account, ideal if you’re using the money market account for a savings goal like home improvements. Yet its high APY makes it a top-notch account for earning interest too.

However, you’ll need at least $100 to open the account. Quontic Bank also keeps its customer service to normal business hours, so you may have to wait if a question pops up after hours.

How do I open a Quontic Bank Money Market account?

Quontic Bank claims that you can open a Money Market account in three minutes. Follow this signup process to get started.

  1. Select Apply now.
  2. Select Open an account.
  3. Under Money Market, click or tap Get started.
  4. Enter your full name, email and phone number. If you’re already a Quontic Bank customer, sign in to retrieve your saved info.
  5. Input the verification code that was emailed to you.
  6. Answer each question to verify your identity.
  7. Transfer your opening deposit from another bank account by inputting your current bank credentials using Plaid or manually entering your bank’s routing and account numbers.

Eligibility

To sign up for a Quontic Bank Money Market account, you’ll need to be a US citizen that’s at least 18 years old.

Required information

Have the following information on hand when applying for a new account.

  • First and last name
  • Residential address
  • Social Security number
  • Date of birth
  • A government-issued ID

What are the benefits of a money market account with Quontic Bank?

A Quontic Bank Money Market account has several attractive features, although you can find more benefits with Quontic Bankf accounts. Its perks include:

  • No monthly maintenance or overdraft fees. Quontic Bank doesn’t charge a monthly service fee for this account. Plus, you won’t have to worry about paying extra if you accidentally withdraw too much from your account.
  • Competitive APY. Earn 3.5% APY on your account balance, which is over 10 times the national average APY for savings accounts.

How much interest you can earn

The Quontic Bank Money Market compounds your savings interest daily, which means that you get the most earnings on your savings as possible. Other accounts compound the interest monthly.

Get an idea of what you could earn when you park your savings in this account.

APYAmount in savingsInterest earned in 12 months
3.5%$1,000$30.0
3.5%$5,000$150.02
3.5%$10,000$300.05

What should I look out for?

Like most money market savings accounts, you’re limited to six monthly withdrawals, and you need some money on hand to open the account. Also, look out for these disadvantages:

  • Minimum opening deposit. You’ll need to set aside $100 to open this account.
  • Customer service isn’t 24/7. Quontic Bank limits its customer support hours to weekdays from 9 a.m. to 6 p.m. ET. This downside is common with online banks, but worth calling out so that you’re not surprised when you have a question after hours.

Compare Quontic Bank Money Market with other savings accounts

See how this account compares to other savings accounts by comparing monthly fees, APYs and minimum opening deposits.

1 - 6 of 15
$
Name Product Annual Percentage Yield (APY) Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
Barclays Online Savings
Finder Rating: 4.6 / 5: ★★★★★
Barclays Online Savings

3.40%

$0
$0
$1,034.58
Earn 3.4% APY, 5X higher than the national average with no minimum balance requirements. Get unlimited transactions and tools that help you save. Pay $0 monthly fees.
Bread CD
Finder Rating: 3.8 / 5: ★★★★★
CD
Bread CD

4.50%

$0
$1,500
$1,046.02
Earn an impressive 4.5% APY with this FDIC insured CD. Available in 1-, 2-, 3-, 4- and 5-year terms. No monthly fees and no hidden fees.
American Express® High Yield Savings Account
Finder Rating: 4.6 / 5: ★★★★★
American Express® High Yield Savings Account

3.30%

$1
$0
$1,033.55
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
UFB Best Savings
Finder Rating: 5 / 5: ★★★★★
UFB Best Savings

4.21%

$0
$0
$1,043
Score an impressive 4.21% APY, and pay $0 in monthly fees. No minimum deposit requirement.
Bread Savings™ High-Yield Savings
Finder Rating: 4.3 / 5: ★★★★★
Bread Savings™ High-Yield Savings

4.00%

$0
$100
$1,040.81
Get 4.00% APY with $0 monthly fees. Pay no hidden fees, including no fees for incoming wire transfers and ACH transfers. Member FDIC.
UFB Best Money Market
Finder Rating: 3.6 / 5: ★★★★★
UFB Best Money Market

4.21%

$0
$0
$923
Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
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How do I deposit or withdraw my money?

Access the cash in your Money Market account in several ways.

Funding options

You’ll need to fund your account through transfers or mobile deposits, rather than in-person banking.

  • Account transfers
  • Direct deposit or ACH transfer
  • Wire transfers
  • Remote check deposit via its mobile app

Withdrawal options

Your Quontic Bank Money Market comes with debit card and ATM access, along with a few other ways to access your money.

  • Debit card purchases
  • ATM withdrawals
  • Paper checks
  • Bill pay
  • Account transfers
  • Wire transfers

    Quontic Bank‘s ATM network and fees

    Quontic Bank teams up with four ATM networks to provide 90,000 surcharge-free ATMs.

    Get access to your cash from:

    • AllPoint Network
    • MoneyPass Network
    • SUM program
    • Citi ATMs located in Target, Walgreens, CVS, Kroger, Speedway, Safeway, Winn Dixie and Circle K

    If you use an out-of-network ATM, Quontic Bank won’t charge a non-network fee but the ATM owner might.

    How to contact Quontic Bank about my savings account?

    Get support for your Quontic Bank Money Market account by:

    • Live 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 info@quonticbank.com.

    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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