Is Quontic Bank Legit?

Opening any new bank account can be a little bit scary. You work hard for your money, after all; you want to make sure the bank you choose will really keep it safe!

Online banking in particular can cause certain customers some (understandable) hesitation. It can be a little more difficult to trust an institution that doesn’t have a storefront where you can walk in and speak to a living, breathing person face-to-face.

But Quontic Bank is a federally chartered bank and thus a legitimate place to place your cash — it’s an industry leader on a mission. Read on to learn more about what makes Quontic stand out from the crowd in the digital-first banking space.

Is Quontic Bank legit?

We can wholeheartedly answer this one with just one word: yes!

You might be relieved to know that Quontic Bank got its start as a brick-and-mortar local branch in Long Island back in 2009. Although we’ve since migrated our headquarters to Manhattan (and moved our business online), we’ve been reliably serving our account holders for over a decade now — and we always have an eye toward innovation.

  • Case in point: in 2020, Quontic became the first bank in the United States to offer a checking account that allows account holders to earn rewards in Bitcoin. Our Bitcoin Rewards Checking account comes with a debit card that will kick you back 1.5% of your eligible purchases in Bitcoin.1 It’s available in more than half of the fifty states (and the District of Columbia) for now, and we’ll soon be expanding the offer.

And if you don’t want to take our word for it, you don’t have to. Quontic has also been reviewed — and highly praised — by Forbes, Bankrate, and Nerdwallet.

If you have any other questions or concerns,: just pick up the phone and give us a call! You can find our phone number, and other contact options, here.

What is Quontic Bank’s mission?

Along with maintaining an innovative edge and offering our customers unique rewards and exceptional service, Quontic Bank also has an important mission to make banking a more equitable space.

That’s why we’re one of only 3% of banks in the United States that hold a Community Development Financial Institution, or CDFI, certification. This designation is reserved for financial institutions that work to provide much-needed financial services to underserved and low-income communities, and when you bank with Quontic, you’re helping us do just that.

Our CDFI certification is, in part, what allows us to offer home loans to borrowers other lenders may overlook, like non-traditional income earners. While we offer familiar mortgage types you can find at other banks, like FHA and VA loans2, we also offer our unique Community Development Loan2, which is a better version of the “no-doc mortgages” of yesteryear. These prime loans put keys into the hands of eligible applicants who might not otherwise qualify. We think it’s a pretty cool thing to support in your banking — especially when you have the potential to earn high interest rates and industry-breakthrough rewards at the same time.

Is Quontic Bank FDIC insured?

If you have any remaining reluctance, rest assured that Quontic Bank is a Member FDIC, and your eligible deposits are FDIC covered up to $250,0003 across your checking and savings accounts. We offer a wide range of account types that may suit your needs, including three different checking accounts, a High Yield savings account, Money Market accounts, and Certificates of Deposit. If you have questions about which financial products will best suit your needs, we’re standing by to answer your questions— and we can’t wait to add you to our banking community.


1Bitcoin Reward Checking account is a non-interest bearing personal checking account, requires a minimum of $500.00 to open the account, and does not require a minimum daily balance to earn Bitcoin rewards. Qualifying Point of Sale (POS) Debit Card Transactions (“Eligible Debit Card Transactions”) shall receive Bitcoin Rewards at the U.S. dollar value of 1.50% on all Qualifying POS Debit Card Transactions that post and settle to the Bitcoin Rewards Checking Account. Fees and terms are subject to change. Additional terms and conditions may apply. No Bitcoin Rewards will be paid if the Qualifying POS Debit Card Transaction requirements are not met or if the requirements for establishing an account with NYDIG Execution LLC (“NYDIG Account”). The following are not Qualifying POS Debit Card Transactions and do not count toward earning Bitcoin Rewards: ATM-processed transactions; transfers between accounts; purchases made with debit cards not issued by the Bank; cash over portions of POS transactions; Peer-to-Peer (P2P) payments (such as Apple Pay Cash); loan payments or account funding made with your debit card and purchases made using third-party payment accounts (services such as Venmo®️ and PayPal™️ , who also provide P2P payments). Transactions may take one or more business days from the date the transaction was made to post and settle to an account. Bitcoin Rewards Checking has geographic, regulatory, and other restrictions that may apply. Bitcoin Reward Checking is currently available in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

Bitcoin execution and custody services are provided by NYDIG Execution LLC (“NYDIG”). NYDIG is authorized by the New York State Department of Financial Services to engage in virtual currency business activity. To receive bitcoin services an account will be opened with NYDIG in which your bitcoin will be held (the “NYDIG Account”). Please refer to NYDIG’s User Agreement for more information, including applicable eligibility criteria. Bitcoin balances in your NYDIG Account are not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other public or private insurer. NYDIG does not make any recommendations regarding buying or selling bitcoin. There are risks associated with bitcoin trading, including possible loss of value. See NYDIG’s User Agreement.

Information is published as of September 24, 2021.

2Lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Quontic Bank is not affiliated with or acting on behalf of or at the direction of FHA, VA or the Federal Government. Information is accurate as of September 24, 2021.

3FDIC insurance is applicable to eligible deposit accounts and up to the maximum allowed by law. Learn more at

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