Quontic Bank High Yield Savings

Quontic Bank High Yield Savings Review

Quontic Bank High Yield Savings is offered by Quontic Bank, founded in 2009 and based in New York, NY. Quontic Bank High Yield Savings is available in 51 states across the USA.

• Very high APY. This account offers an annual percentage yield of up to 1.85%, which is much higher than the average for a checking account.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

Pros	Cons
Available in all 50 states. High-interest yield.	No signup bonus. Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card Not FDIC-insured. Higher than average wire transfer fees.

Are savings accounts from Quontic Bank federally insured?

No, your Quontic Bank savings accounts are not insured by a federal insurance agency. This means that if Quontic Bank were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

Does Quontic Bank offer a signup bonus?

Quontic Bank Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Quontic Bank Savings?

The minimum deposit to open a Quontic Bank Savings is $100.

Quontic Bank High Yield Savings Minimums

Description
Minimum Balance to Earn APY	$0
Minimum Opening Deposit	$100

What APY does Quontic Bank offer?

Quontic Bank Savings offers an APY of 1.85% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Quontic Bank Savings charge?

Quontic Bank Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $20 fee.
• Incoming domestic bank transfers come with a $10 fee.
• Outgoing international bank transfers come with a $30 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Incoming international bank transfers come with a $10 fee.
• An overdraft on your account will trigger a $35 fee per item.
• Quontic Bank Savings charges $5 every time you request a paper statement.

Does Quontic Bank Savings charge overdraft fees?

Yes, Quontic Bank Savings charges a $35 overdraft fee.

Quontic Bank Savings offers overdraft protection at a cost of $35 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.

What features and perks does Quontic Bank Savings offer?

This savings account includes the following features:

Can you set up a direct deposit to Quontic Bank Savings?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Quontic Bank Savings?

The customer support email for Quontic Bank Savings is info@quonticbank.com.

How do people rate the customer service and user experience of Quontic Bank Savings?

Overall, Quontic Bank Savings is strongly recommended based on community reviews that rate customer service and user experience.