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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
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.
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.
Competitive APY: The Quontic Money Market Account offers a pretty competitive APY of 5.00% 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.
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.
Here's a closer look at how you can move money in and out of your Quontic Money Market Account.
You can deposit funds into your Quontic Money Market Account in the following ways:
Customers can withdraw money from their Quontic Money Market Account using any of these options:
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?
This could be a good choice for you if:
At The Motley Fool Ascent, 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:
Learn more about how The Motley Fool Ascent rates bank accounts.
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