Quontic is a Member FDIC bank, headquartered in New York City and located in a growing number of states. We're all about customer service. We're here to help the community. We strive to make banking easy and the home mortgage process hassle-free. We are authorized by the U.S. Department of Housing and Urban Development (HUD) to make Federal Housing Authority (FHA)-insured mortgage loans in all fifty states. Quontic Bank has earned a coveted 5-star rating from BauerFinancial, the nation’s premier independent bank rating firm, each quarter since Q3 2015. In 2016, Quontic Bank ranked No. 88 of the 6,199 federally insured banks in the U.S., according to DepositAccounts.com, a website that monitors and informs consumers of how well financial institutions perform.
On Monday, Quontic Bank began offering customers an unassuming black band embedded with contactless payment technology that they can use at point-of-sale terminals. Such devices exist in other countries. Visa introduced near field communication-enabled rings for Olympic athletes in 2016; the London-based Kerv emerged in 2017 from a Kickstarter campaign; a bank in Australia rolled out the Halo ring in 2018. Some ring-makers advertise availability in the U.S. But Quontic, a $916 million-asset community development financial institution in New York City, says it is the first financial institution to offer one in this country. Will consumers take to a debit card disguised as jewelry when they can already pay by hovering their cards, smartphones, fitness trackers or smartwatches above a contactless terminal?
Grace Pace, senior vice president of digital banking at Quontic Bank, says banks with rewards checking accounts will often require customers to fulfill specific activities to earn rewards. "With a rewards checking account, the most common activity would be swiping your debit card," explains Pace. "However, some will also encourage behavior, like enrolling in direct deposit or signing up for e-statements." Numerous financial institutions let you earn rewards solely through the rewards checking account. As a result, you won't need to own another bank account or apply for other bank services. First Independence Bank, Industrial Bank, and M&F Bank are also mentioned.
Quontic Bank Holdings Corp., the parent company of Quontic Bank, announced today that it has appointed 10 members to a newly created Black and Hispanic Community Development Advisory Board. The advisory board will allow Quontic to formally engage experts involved in non-profit, financial literacy, and organizations supporting equitable access to affordable housing development and ownership to Black and Hispanic populations. This advisory board will work closely with Quontic's existing advisory board that advises on Quontic's geographic investment area, the greater New York City metropolitan area, as well as Quontic's nationwide reach to underrepresented low-income populations.