Looking for an online bank with high interest rates and no monthly fees? Quontic offers up to 3.85% APY, rewards checking, and a banking experience that’s 100% digital—with no credit check to open most accounts.
Whether you’re trying to grow your savings, earn cash back on everyday purchases, or open an account quickly without the hassle, Quontic makes it easy. It’s also one of the only banks in the U.S. recognized as a Community Development Financial Institution (CDFI), which means it’s built to serve people often left out of traditional banking.
Here’s what you need to know before opening an account.
Quontic Bank Overview
Quontic stands out for offering modern banking with features built for people who don’t always fit the traditional mold. Whether you’re self-employed, earn income from side gigs, or want a checking account with real rewards, Quontic’s products are designed to meet those needs.
The bank also goes beyond typical online features by offering contactless payment tech like the Quontic Pay Ring and even a virtual branch in the metaverse. With no monthly fees, strong interest rates, and an easy online setup, Quontic blends accessibility with innovation.
Quontic Bank High Yield Savings Account
Quontic’s high-yield savings account offers 3.85% APY on all balances, with daily compounding to help your money grow faster. There are no monthly maintenance fees, no overdraft fees, and no minimum direct deposit requirements.
To open an account, you’ll need a $100 minimum deposit. Transfers are free unless you exceed six withdrawals or transfers per statement cycle, which triggers a $10 fee per transaction.
Compared to the national average savings rate of just 0.39% APY, Quontic’s rate is among the best available. Traditional banks like Chase offer as little as 0.01% APY, with interest compounded monthly—making Quontic a much stronger option for earning meaningful returns on your savings.
Quontic Bank Money Market Account
Quontic’s money market account earns 4.25% APY, combining the interest potential of a CD with the flexibility of a checking account. You can open one with just $100 and there’s no monthly maintenance fee or minimum balance requirement after that.
This account includes a debit card and access to the same 90,000+ ATM network as other Quontic accounts. You can also make up to six free withdrawals or transfers per statement cycle. If you exceed that, you’ll pay $10 per additional transaction.
If you want high interest and easy access to your cash, the money market account offers a solid balance between savings and flexibility.
Quontic Bank CD Accounts
Quontic’s certificates of deposit offer competitive fixed rates with terms ranging from six months to three years. These accounts are FDIC-insured and require just a $500 minimum deposit—lower than many other online banks.
Here are the current CD rates:
- 6 months: 4.00% APY
- 12 months: 3.25% APY
- 24 months: 3.35% APY
Early withdrawals are subject to penalties, so CDs are best for funds you won’t need access to until the term ends.
If you’re looking to lock in a solid return and don’t mind keeping your money untouched, a Quontic CD can be a simple way to earn more than most savings accounts offer.
Quontic Bank Checking Account Options
Quontic offers two no-fee checking accounts—both with just a $100 opening deposit and no credit check required:
- Cash Rewards Checking: 1% cash back on eligible debit card purchases
- High Interest Checking: 1.10% APY when you make at least 10 debit card purchases of $10+ each per statement cycle
- Both accounts come with a debit card, no monthly fees, and access to 90,000+ ATMs
Here’s a closer look at each option:
Quontic Bank Cash Rewards Checking Account
If you want rewards without keeping a large balance, Quontic’s Cash Rewards checking offers 1% cash back on eligible debit card purchases made in stores or online. The cash back is paid automatically at the start of your next statement cycle.
There are no overdraft fees, no monthly service charges, and no minimum balance. You only need $100 to open the account.
Quontic Bank High Interest Checking Account
If you’d rather earn interest than cash back, the High Interest checking account pays 1.10% APY—as long as you make at least 10 debit card purchases of $10 or more per statement cycle. This requirement resets every month.
You’ll still get all the same benefits: no overdraft or monthly fees, access to 90,000+ ATMs, and a debit card. The account also includes Quontic’s contactless Pay Ring for tap-and-go payments.
Other Products From Quontic
Quontic also offers mortgage loans tailored to borrowers who may not qualify through traditional banks. That includes self-employed buyers, first-time homebuyers, non-U.S. citizens, and real estate investors.
The bank is known for working with applicants who have alternative income sources, and its mortgage process is fully online. While rates and terms aren’t listed on the site, Quontic’s flexible approach makes it a potential option for buyers with unique financial situations.
Quontic’s Mobile App and Digital Features
Quontic’s mobile banking app is available for iOS and Android and offers everything you need to manage your money on the go. You can deposit checks remotely, send money through Zelle, and toggle your debit card on or off for added security.
The app also supports Quontic’s Pay Ring—a wearable device that lets you make contactless purchases without pulling out your wallet. While the app covers the basics well, it doesn’t include extras like budgeting tools or early direct deposit.
Quontic Customer Service
Quontic offers several ways to reach customer support, including live chat on its website and app, email support, and a callback feature if you prefer to avoid waiting on hold.
Support hours are not 24/7, so responses may take longer outside of business hours. All accounts are FDIC insured up to $250,000 per depositor, giving you the same level of protection you’d get at a traditional bank.
How Quontic Compares to Other Online Banks
Quontic competes well with other online banks like Ally, SoFi, Capital One 360, Upgrade, and Discover—especially when it comes to interest rates. Its high-yield savings and money market accounts offer some of the best APYs available, and none of its accounts come with monthly service fees.
That said, Quontic lacks a few features that other top online banks provide. You won’t find early direct deposit, automatic savings tools, or in-app budgeting features like you get with SoFi or Ally. While Quontic does support Zelle and debit card controls, the app doesn’t stand out for extras like savings goals or round-up transfers.
For customers focused on maximizing interest and avoiding fees, Quontic is a strong contender. But if you want more built-in money management tools or early paycheck access, banks like SoFi or Capital One may be a better fit.
How to Open a Quontic Bank Account
Opening a Quontic account takes just a few minutes and can be done entirely online.
Here’s what you’ll need:
- Social Security number
- U.S. address and email
- External bank account or existing Quontic account for funding
- $100 minimum deposit for savings, checking, and money market accounts
- $500 minimum deposit for certificates of deposit
You’ll need to fund your account through an ACH transfer from an external bank or from an existing Quontic account. There’s no credit check required for most accounts, making it easy to get started even if you’re still building your credit profile.
How to Withdraw Money From Quontic
You can withdraw money from your Quontic checking, savings, or money market account using any of the 90,000+ fee-free ATMs in the Allpoint® network. That includes machines at major retailers like CVS, Walgreens, Rite Aid, and many grocery stores.
Quontic does not reimburse out-of-network ATM fees, so it’s best to stick with Allpoint locations when possible. You can also get cash back at the register when using your debit card at participating stores.
For electronic transfers, Quontic supports Zelle and allows ACH transfers to and from external bank accounts, giving you flexibility in how you move your money.
Final Thoughts
Quontic stands out for offering high interest rates, no monthly fees, and an easy online setup with no credit check required. It’s a great fit for anyone looking to earn more on their money without jumping through hoops or dealing with hidden costs.
Whether you’re self-employed, juggling multiple income streams, or just want a simple digital bank with solid features, Quontic offers a strong mix of value and convenience.
Frequently Asked Questions
Is Quontic Bank legit?
Yes, Quontic is a federally chartered bank, and all deposit accounts are FDIC insured up to $250,000 per depositor. It operates entirely online and serves customers in all 50 states.
Is my money safe with Quontic?
Yes. As an FDIC member, Quontic protects your deposits up to the standard federal limits. The bank also follows strict security and encryption protocols for online and mobile banking.
Does Quontic have any branches?
No, Quontic is a digital-only bank. All services are available through its website and mobile app.
Does Quontic offer joint accounts?
Yes, Quontic allows joint ownership for most of its deposit accounts, though you’ll need to apply with both account holders’ information during the signup process.
