How do I get FDIC deposit insurance?
You don’t need to take any action. As long as your deposit account is held at an FDIC-insured bank, your funds are automatically protected up to the applicable limits.
What is FDIC deposit insurance?
FDIC deposit insurance safeguards your money if an FDIC-insured bank fails. You don’t need to apply or pay for this coverage—it’s automatic when you open a deposit account at an FDIC-insured institution. Coverage includes both the principal and any interest accrued through the date of the bank’s failure, up to the insurance limit.
What is the FDIC?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that protects depositors by insuring their funds in the event an FDIC-insured bank fails. If your bank is FDIC-insured—like Quontic Bank—your deposits are automatically protected up to $250,000 per depositor, per ownership category, per bank. This coverage is backed by the […]
Does Quontic provide CD Statements?
No, Quontic does not provide CD statements. However, you can view your interest payments and CD activity through our Online Banking Platform.
Can I convert my Certificate of Deposit (CD) to a different term?
Yes, you may convert your CD to a different term once it reaches maturity.
Can I convert my Certificate of Deposit (CD) account to a different account type, such as a checking or savings account?
Account conversions are not supported. If you wish to switch to a different product type, such as a checking or savings account, you will need to open a new account that aligns with your financial needs.