Quontic Bank was founded in 2005 and is headquartered in Astoria, New York. It owns assets of $352 million and $293 million in deposits, ranking it as a small bank. Quontic Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a superb 4.8 stars out of 5, Quontic Bank is an excellent bank that you should strongly consider. Quontic Bank offers numerous product offerings, which include savings accounts, checking accounts, CDs and mortgage products. Quontic Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Quontic Bank's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best option for gaining the most income from your deposits alongside convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Quontic Bank features a savings rate of 0.50%, which is poor compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 2.55% and 2.90%, respectively, while its highest-yielding money market account has a rate of 0.50%. Given Quontic Bank's noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.
How Quontic Bank's Savings Rates Compare
On average, Quontic Bank charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Quontic Bank is ideal for people who want a basic checking account. Quontic Bank doesn't refund out-of-network ATM charges, which means you will need to find a Quontic Bank ATM or eat the cost of withdrawal.
Quontic Bank is a brick-and-mortar bank, with two total bank locations in New York. With mobile and web apps, Quontic Bank makes account access convenient, even on the go. Quontic Bank gets great feedback from customers for its mobile platform. Out of 28 customer reviews across both iOS and Android platforms, the Quontic Bank mobile app rates a 4.6 out of 5 (compared to the national average of 3.8). You can access Quontic Bank's mobile app to manage your bank accounts by looking at monthly statements, sending and receiving funds as well as accessing customer service. Quontic Bank receives an excellent consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Quontic Bank is a small bank and handles assets totaling $352 million and deposits totaling $293 million. Quontic Bank has an excellent Texas Ratio of 2.41%, signifying a low chance of failure. Additionally, Quontic Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.Back to Overview
Compare Quontic Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.5% APY||$100|
|Checking Account||0.5% APY||$100|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.5% APY||$100|
Quontic Bank has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. Quontic Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Quontic Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a Quontic Bank Near Me
Quontic Bank has two branches in the U.S.Back to Overview