Is Quontic Bank Safe and Legit

Is Quontic Bank safe and secure? Find out how Quontic protects your account and learn about common customer complaints.

Quontic Bank is best known for its checking and savings accounts with impressive rates. These rates are a lot higher than what you'd get from a traditional bank. It even has a unique checking account with Bitcoin rewards.

But is an online bank like Quontic really as safe as big, national banks? Or does it skimp on security in favor of high rates?

Learn more about Quontic's security features to find out if it's legit.

Is Quontic Bank Safe?

Quontic Bank is a legit online bank with a range of banking products. Any financial institution should employ multiple security features to keep your account safe. And Quontic is no exception.

Here's an overview of how Quontic protects your account:^[1]

• FDIC Insurance. Quontic Bank is a member of the FDIC. This means money in your bank account is protected up to $250,000 in case the bank ever fails.

• Mastercard Zero Liability Protection. You won't be on the hook for any unauthorized transactions on your Quontic debit card.

• Multi-Factor Authentication. This prevents other people from accessing your account. You need to provide multiple credentials to verify your identity.

• Data Encryption. Quontic uses encryption to scramble your private information and keep it secure.

• Automatic Logout. You'll be automatically signed out of your account if you're inactive.

• Lock/Unlock Debit Card Online. If you notice any suspicious activity or lose your debit card, you can quickly lock it online. This will prevent anyone from using your card to make more purchases.

These secure features are standard with most reputable banks. Overall, Quontic is a trustworthy bank that does what it can to keep your account secure.

Quontic Bank Products

Quontic Bank offers checking accounts and savings accounts with very competitive rates. You can use a Quontic debit card at 90,000 no-fee ATMs nationwide.

Here's a closer look at Quontic's bank account options:

Checking Accounts

Member FDIC

High Interest Checking - Up to 1.10% APY

• Earn up to 1.10% APY
• $100 minimum opening deposit
• APY is based on the account balance and making at least 10 qualifying debit card point-of-sale transactions of $10.00 or more per statement cycle.

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Cash Rewards Checking

• Get 1.00% Cash Back on All Eligible Debit Card Purchases
• $100 minimum opening deposit

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Savings Accounts

Member FDIC

High Yield Savings - 4.50% APY

• 4.50% APY
• $100 minimum opening deposit
• No monthly service fees

Click Here to Learn More

Member FDIC

Money Market Account - 5.00% APY

• Earn 5.00% Annual Percentage Yield
• No monthly maintenance or overdraft fees
• $100 minimum deposit required to open an account

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Member FDIC

CD Rates - Up to 5.30% APY

• $500 minimum opening deposit
• FDIC insured

Term	CD Rates
6 Months	5.05% APY
1 Year	5.30% APY
2 Years	4.50% APY
3 Years	4.40% APY
5 Years	4.30% APY

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Member FDIC

1 Year CD - 5.30% APY

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Member FDIC

6 Month CD - 5.05% APY

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Member FDIC

2 Year CD - 4.50% APY

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Member FDIC

3 Year CD - 4.40% APY

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Member FDIC

5 Year CD - 4.30% APY

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What Fees Does Quontic Bank Charge?

Online banks usually have fewer fees than traditional banks. None of Quontic Bank's checking accounts or savings accounts have monthly service fees.

Quontic charges NO fees for:

• Overdrafts/non-sufficient funds
  
• Cashier's checks
  
• Money orders
  
• Incoming wire transfers
  
• Activity statements

It does charge fees for:^[2]

• Dormant account fee (after 1 year of inactivity): $5/mo
  
• Stop payments: $20
  
• Return deposited item: $10
  
• Outgoing domestic wire transfers: $25
  
• Outgoing international wire transfers: $35
  
• Account research: $20/hr
  
• Account reconciliation: $30/hr

These fees apply to Quontic checking and savings accounts. If you need to withdraw money from a CD before the term is over, you'll also be charged a fee.

Overall, Quontic Bank fees are pretty low and easy to avoid.

Quontic Bank Customer Complaints

Many of Quontic's complaints are directed toward its mobile app. Customers describe both the Android and iOS apps as overly simplistic and buggy at times.

Quontic has updated its app to include more modern features like biometric login. But it still seems to be a bit more limited than other bank apps. The Quontic app has a rating of 3.5 out 5 on the Google Play store and 4.5 out of 5 on the Apple App Store.

Some customers also report long wait times when calling customer support. One reviewer mentioned that they had to wait 20 minutes to get connected to a representative.

Overall, Quontic offers great rates, low fees, and a unique rewards. The app experience could use some work, however. It may not be the best choice if you prioritize a smooth banking experience over high rates.

How to Open an Account

Quontic Bank has an easy sign-up process. The whole process is done online.

Here's how to open an account:

1. Visit Quontic Bank and choose an account to get started.
   
2. Enter your basic information.
   
3. Verify your identity and personal information.
   
4. Add your funding details.
   
5. Complete your account application.

To create an account and complete your application, be prepared to provide your:

• Full name
  
• Email
  
• Phone number
  
• Date of birth
  
• Address
  
• Social Security number

Bottom Line

Quontic Bank is a reputable bank with a variety of security features to keep your account safe. Quontic is a member of the FDIC, which protects money in your account in the unlikely case that the bank fails.

Of course, no bank can promise to be completely infallible. But Quontic does what it can to keep your account safe, just like any other traditional or online bank.

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