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Quontic Bank High Yield Savings

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Quontic Bank High Yield Savings

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in Savings Accounts from Quontic Bank · Member FDIC

SuperMoney Net Recommendation Score +80

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +80, equating to 4.6 on a 5 point rating scale.

+80

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

8 users recommend
2 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
APY (Annual Percentage Yield) 0.55%
APY Minimum Balance $0
Number of Reviews 10

Quontic Bank High Yield Savings Review

Quontic Bank High Yield Savings is offered by Quontic Bank, a bank founded in 2009 and based in New York, NY. Quontic Bank High Yield Savings is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. Quontic Bank High Yield Savings has an annual percentage yield of up to 0.55%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • Bill pay. Pay your bills to practically anyone in the United States through Quontic Bank.
  • Soft credit pull. This bank will not perform a hard credit pull when you open a checking account.
Quontic Bank Savings Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • Access to a nationwide network of ATMs.
  • No signup bonus.
  • No ATM access to Quontic Bank High Yield Savings.
  • Higher than average wire transfer fees.
Quontic Bank Savings FAQ

Are savings accounts from Quontic Bank federally insured?

Yes, your Quontic Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57807). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

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
APY Minimum Balance $0
Minimum Opening Deposit $100

What APY does Quontic Bank offer?

Quontic Bank Savings offers an APY of 0.55% (APY stands for annual percentage yield, rates may change).

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:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - Quontic Bank Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Quontic Bank Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
  • Soft credit pull - Quontic Bank Savings performs a soft credit pull so you can check whether you qualify without hurting your credit.

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.

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Message From Quontic Bank

Quontic is a nationwide digital bank on a mission, and one of only 3% of banks with a CDFI designation. This means that we use the deposits from our award-winning and highly rated accounts to bring the dream of homeownership to low-income families, immigrants, people of color, small business owners, and others who are unable to obtain home mortgage financing through traditional mortgage channels. When you bank with us, you’re our partner in delivering on our mission.

Sit back, relax, and watch your money grow. Interest is compounded daily and credited to your account every month. Minimum opening deposit: $100. No monthly service fees. Limit of 6 withdrawals per statement cycle.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday Closed

Other Services by Quontic Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0
Minimum Opening Deposit $100
Early Account Closure $0
Monthly Fee $0
Overdraft Item Fee $35
Overdraft Protection Fee (per transfer) $35
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $10
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $30
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Soft Credit Pull
  • Debit Card
  • Member FDIC
APY (Annual Percentage Yield) 0.55%

Quontic Bank High Yield Savings Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +80, equating to 4.6 on a 5 point rating scale.

+80

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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