Quontic Bank High Yield Savings Account Review 2026: Track Your Savings Through Online & Mobile Banking

Features

In depth review on Quontic Bank High Yield Savings Account

Quontic Bank is fueled by a mission to change the banking landscape through an entirely digital experience, low fees, and a full suite of financial products.  

The high yield savings account provides you with the opportunity to accrue interest at a rate higher than the national average. Interest compounds daily and is paid into your account every month. Plus, savers can benefit from advanced security features where you are fully protected against unauthorized debit card transactions. 

The application process can be completed online in under 3 minutes. You can transfer your initial deposit from an existing Quontic account or an external account via ACH.  

Quontic Bank High Yield Savings Account is best for

• Mobile and online banking: Savers can manage their money and track their progress through online banking or the mobile app.  
• Competitive interest rate: You can start earning interest with a minimum deposit of $100 and the high APY applies to all balances.  
• No monthly service fees: There is no monthly maintenance fee to keep your account open. This keeps your banking costs low.

Quontic Bank High Yield Savings Account benefits

• Advanced security: All accounts include advanced security monitoring and you are fully protected against any unauthorized transactions on your debit card.  
• Mission-driven bank: Quontic Bank is driven by the mission to create a more equitable landscape in the banking industry where home financing solutions are available for underserved communities.  
• No hidden fees: There are no hidden fees. You can view all the fees that may be charged on the website.
• Interest compounded daily: Interest earned on your balance is compounded daily and credited to your account each month.  
• Available in all 50 states: You can open a high yield saving account with Quontic Bank in all 50 US states.

Quontic Bank High Yield Savings Account drawbacks

• $100 minimum deposit requirement: While the minimum deposit is not high, many high yield savings accounts do not require a minimum deposit.  
• Limited access to physical branches: There is limited in-person support available. Quontic Bank is best for customers who are happy to bank online and manage money digitally.  
• Transfer limits apply: Like other high yield saving account providers, Quontic Bank also imposes transfer limits on your account. There is a daily transaction limit of $2,000 and a monthly limit of $10,000. You can make up to six pre-authorized withdrawals from your account per month or each statement cycle. A $10 fee applies for additional transactions above the limit.  
• High wire transfer fees: Outgoing domestic wire transfer fees start at $25. Wire transfers that are outgoing to foreign banks start from $35.

Account opening

To open a high-yield saving account with Quontic Bank, you can apply here. The process is simple and can be completed within a few minutes. You will need the following: 

• Name 
• Email address 
• Phone number 
• Date of birth 
• Address 
• Social security number 
• Valid government-issued id

To be eligible, you must be a US citizen and over the age of 18 years old.  

A minimum $100 deposit applies to open the account. You can choose to fund your account using an existing Quontic Bank account or an external account.  

Fees

Savings accounts that charge fees can quickly offset any gains in interest. Before opening a high yield savings account, it’s important to consider all fees that may apply to the account. With Quontic bank there are no monthly service fees and no minimum balance requirements. 

Other fees to consider when opening an account with Quontic Bank include the following: 

• Dormant account: $5 per month 
• Stop Payment: $20 
• Wire transfer (outgoing domestic): $25 plus correspondent 
• Wire transfer (incoming): $0 plus correspondent 
• Returned deposited item: $10 
• Account reconciliation: $30/hour

There are no overdraft fees or insufficient fund fees. It’s a good idea to read through the fee schedule before you sign up for an account as fees are subject to change at any time.  

Features

The savings account offers a range of features that make it a great option for savers to park their cash. Some of the best features and perks include the following: 

• High APY: Quontic Bank offers an above-average APY so that you can watch your savings grow faster.  
• FDIC member bank: Deposits are insured by the FDIC up to the applicable amount by law. 
• Interest compounded daily: You will earn interest on your account daily which will be paid into your account monthly.  
• No minimum balance requirement: There is no minimum balance requirement to earn interest or waive monthly fees.  
• No overdraft fees: Quontic Bank does not charge a fee if you are overdrawn in your account.  
• Several options for deposits and withdrawals: There are many funding and withdrawal options including ACH transfer, wire transfer, and remote check deposit.  
• 24/7 online access to accounts and services: You can easily manage your account through online banking or the mobile app. The service is available every day.

Deposits and withdrawals

Quontic Bank offers several options for depositing and withdrawing funds to and from your account. The following methods can be used to deposit funds: 

• ACH transfer 
• Wire transfer 
• Remote check deposit 
• Check by mail

Savers looking to withdraw funds are limited to six pre-authorized withdrawals per month or each statement cycle. If you exceed this limit a $10 fee applies for each transaction over the limit. You can withdraw funds through: 

• Telephone transfers 
• Checks 
• ACH transfers 
• Wire transfers

Customer service

Customers that have queries regarding their account can reach out to Quontic Bank Monday – Friday 9:00 am – 6:00 pm EST. For general inquiries, you can call 1-800-908-6600 or send an email to info@quonticbank.com. 

There is also a helpful FAQ section on the website which could help you find an answer to many commonly asked questions.  

Many customers love how quick and easy it is to open an account. Any questions or queries are swiftly answered by a customer support team that provides a great level of service.  

Safe and secure

Quontic Bank takes advanced security measures to ensure the safety and integrity of client information. If you believe your debit card details have been compromised, you can lock your debit card online. Plus, any unauthorized debit card transactions are protected.  

In addition, Quontic Bank is a memeber FDIC bank, where your deposits are protected up to the limit applicable by law. 

Is Quontic Bank High Yield Savings Account right for you?

Quontic Bank could be the right choice for you if you’re looking for a digital bank that offers a high APY and no monthly maintenance fees. Compared to many other options available in the market, Quontic Bank has a strong customer and user experience.  

Where the bank falls short is the lack of in-person support available. If you prefer a more personalized banking experience, you may want to look at alternative options.  

Nowadays there are several options when looking for a high yield savings account. Be mindful to consider the APY, fees, and all the features offered before you make your final decision. While a high APY can be an attractive offer, accessibility and cost should also be taken into account.  

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