Quontic High Interest Checking Account Review 2024: No Monthly Service Fees

Katie Stiner

Quontic was founded in 2009 as an adaptive digital bank headquartered in Manhattan, New York. Quontic has earned a Community Development Financial Institution designation and provides a full suite of digital bank accounts along with home financing solutions, largely focusing on underserved communities.

Overall rating


Summary: Quontic provides a high interest checking account with a lucrative interest rate on your entire balance, which makes it a good choice if you’re looking to earn some extra income.

Quontic High Interest Checking Account

quontic logo


Monthly Fee


Est. APY



Account Opening




Deposits & Withdrawals




Customer Service


Safe & Secure


  • Expansive no-fee ATM network
  • No monthly maintenance fees
  • FDIC Member Bank


  • Condition to qualify for interest on some accounts
  • A minimum initial deposit of $100

Best For

  • Full-service online banking
  • No monthly service fees
  • High interest


HQManhattan, New York City, New York, US
Monthly Fee$0
Min. To Open$100
Min. Deposit For No Fee$100
Paper Statement Fee$0
Overdraft Fee$0
ATM Fee$0
Debit CardMastercard
State RestrictionsAvailable in all US States

In depth review on Quontic high interest checking account

Quontic helps maximize your savings, while managing everyday finances, by paying a high rate on your entire account balance. To qualify for the interest rate, you have to make a minimum of 10 qualifying point of sale debit card transactions that are at least $10 each, per statement cycle. Once you have qualified, you can earn different interest rates depending on the portion of your daily balances. You can earn 1.01% APY on a portion of your daily balance under $150,000.01 and for additional balances and APYs, refer to the table below.

Account Daily Balance PortionQualifying Debit Card TransactionInterest RateAnnual Percentage Yield (APY)
$0 – $150,000Yes1.00%1.01%
$150,000.01 – $1,000,000Yes0.35%1.01% – 0.45%
$1,000,000 – and aboveYes0.00%0.45% – 0.00%

If the qualifying activity requirement is not fulfilled, the interest rate paid on the entire balance will be 0.01% with an annual percentage yield of 0.01%. Rates are subject to change and fees could reduce earnings. 

Quontic high interest checking account is best for

  • Full-service online banking: Clients can access all services online 24/7 through the official website and mobile app.
  • No monthly service fees: Qunontic doesn’t charge its clients a monthly fee. You require $100 to open your high interest checking account.
  • High interest: Many high interest checking accounts only pay interest on balances up to a certain amount, but Quontic provides a competitive rate up to $1 million.

Quontic high interest checking account benefits

  • Expansive no-fee ATM network: Quontic aims to put the interest and welfare of its clients first. As a result, they don’t charge ATM fees. However, other fees may apply.
  • No monthly maintenance fees: The bank will not charge its clients a dormant account fee.
  • FDIC insured: Quontic bank is a FDIC member bank. FDIC insurance is applicable to eligible deposit accounts and up to the maximum allowed by law.

Quontic high interest checking account drawbacks

  • Condition to qualify for interest: You can only qualify for the high rate by making at least 10 qualifying point of sale debit card purchases of $10 each per statement cycle.
  • A minimum initial deposit of $100: Many banks and financial institutions do not require a minimum balance to open an account. However, Quontic requires a small sum of $100.

Account opening


Opening a high interest checking account with Quontic can be done online. New customers will be asked to enter their social security number and email address.

You can apply here.



Clients are required to deposit a minimum of $100 when opening their account. Once the account is opened, Quontic does not charge any monthly service fee. However, you should be aware of other types of fees that are applicable.



The high interest checking account offered by Quontic has a variety of features that make it a great option for unbanked and low-income individuals. Some of the best features of this account are:

  • Fully mobile and online banking
  • High APY
  • FDIC member bank
  • 90,000+ surcharge-free ATMs across the nation
  • Interest compounded daily
  • 24/7 online access to services

Deposits and withdrawals


Since Quontic clients can not deposit cash directly, Quontic allows its clients to deposit money in their checking account in a few different ways. The following methods can be used to deposit funds:

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

Clients can also withdraw money from their checking account through:

  • ATM withdrawals
  • Electronic bank transfers
  • Wire transfers
  • Physical checks

Customer service


Clients can reach out to Quontic’s customer service in case of queries regarding any Quontic product or any difficulty regarding account management. Quontic provides 24/7 customer service for general banking, online mobile banking, etc. You can call them over the phone on numbers provided by the bank. Clients also have access to live chat and email services.

Safe and secure


Quontic Bank has many measures in place to ensure the safety of their client’s accounts. They offer automatic log-out from the account if there is a long period of inactivity. This helps to prevent unauthorized access. Quontic also provides its clients with a unique identification code and password. 

Is Quontic high interest checking account right for you?

Quontic is an adaptive digital bank and has evolved over the years. Nowadays, if you are looking for a high yielding checking account, there are many options in the market. The checking account offered by Quontic provides a great and affordable option with a high APY. Compared to the many options available to customers, Quontic’s high interest checking account stacks up really well.