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Quontic Money Market Account Review: Competitive Rates With Few Fees

Review Updated
Kailey Hagen
Author: Kailey Hagen
Kailey Hagen
Kailey Hagen
Writer

Kailey Hagen has been writing about small businesses and finance for almost 10 years. Articles she's written for The Motley Fool have been syndicated to USA Today, MSN, and Yahoo! Finance. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

The Quontic Money Market Account is a great alternative to checking and savings accounts for those who want the best of both worlds. It offers a competitive rate and easy access to your cash, including a debit card and check-writing capabilities. Read our full Quontic Money Market Account review to see if it's a good fit for you.

Quontic Money Market Account
Open Account for Quontic Money Market Account

On Quontic's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Dec 20, 2024

Quontic Money Market Account

Open Account for Quontic Money Market Account

On Quontic's Secure Website.

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for Quontic Money Market Account

On Quontic's Secure Website.

Monthly Fee
$0
Min. Balance
$100
APY
4.75%
Min. To Earn APY
$100
  • Competitive APY
  • Debit card and checks available
  • Few fees
  • FDIC insured
  • Difficult to deposit cash

The Quontic Money Market Account offers one of the most competitive APYs around, and its lack of common banking fees helps you keep more of what you earn in your pocket. The account is also pretty flexible when it comes to withdrawing your money, but depositing cash could be a challenge without any branches or deposit-taking ATMs.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 28, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Full Quontic Money Market Account review

Top perks

Competitive APY: The Quontic Money Market Account offers a pretty competitive APY of 4.75% that's right in line with what many other top banks offer. It also has a low minimum opening deposit.

Debit card and checks available: Quontic gives its money market account customers access to a debit card, which can be used at over 90,000 fee-free ATMs across the U.S. The account also offers check-writing capabilities for those who prefer to make withdrawals this way.

Few fees: Though the account has a minimum opening deposit requirement, it doesn't have ongoing balance requirements that you must maintain in order to avoid a maintenance fee. The Quontic Money Market Account also doesn't have overdraft fees and is transparent about the few things it does charge you for.

FDIC insured: Quontic Money Market Accounts are FDIC insured up to $250,000 per person per account type, just like traditional brick-and-mortar bank accounts. This protects your cash if your bank ever fails.

What could be improved

Cash deposits: Quontic doesn't have any physical branch locations and it doesn't have any deposit-taking ATMs either. In order to add cash to your account, you'll have to put that money in a separate bank account and then transfer it to your Quontic Money Market Account.

How to access your money

Here's a closer look at how you can move money in and out of your Quontic Money Market Account.

Deposit options

You can deposit funds into your Quontic Money Market Account in the following ways:

  • Direct deposit
  • Electronic transfer
  • Mobile check deposit
  • Wire transfer
  • Zelle

Withdrawal options

Customers can withdraw money from their Quontic Money Market Account using any of these options:

  • Electronic transfer
  • Online bill pay
  • Wire transfer
  • Debit card
  • Check
  • Zelle

It's important to note that you could face excessive transaction fees if you make more than six withdrawals from your Quontic Money Market Account in a month.

Related reading: What Is Regulation D?

The Quontic Money Market Account is right for you if:

This could be a good choice for you if:

  • You want to earn a competitive APY on your extra cash.
  • You don't plan to make more than six withdrawals per month.
  • You want a lot of flexibility in how you access your money.

Keep reading about Quontic

Our money market account methodology

At Motley Fool Money, we evaluate money market accounts based on four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum balance requirements, and perks.

Our scores are weighted as:

  • APY: 60%
  • Brand and Reputation: 15%
  • Fees and Minimums: 15%
  • Perks: 10%

Learn more about how Motley Fool Money rates bank accounts.