Quontic 1.10% APY High-Yield Checking (Requires 10 x $10 Purchases)

Update 5/29/22: Increased from 1.01% to 1.10%. They also removed the limit, so you can earn the interest on any amount of funds now.

The Offer

Direct Link to offer

• Quontic digital bank is offering an high-yield checking account with 1.01% APY on balances up to $150,000 when you make ten purchases of $10 or more each statement cycle.

The Fine Print

• The following activities are not considered qualifying POS debit card transactions and do not count toward earning rewards: ATM- processed transactions; transfers between accounts; purchases made with debit cards not issued by our bank; cash over portions of point-of-sale 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.
• Transactions may take one or more business days from the date the transaction was made to post and settle to an account.
• Online Account Opening is only available to consumers.
• Information is accurate as of September 8, 2021 and may change without notice.

Our Verdict

At this time, the top-earning accounts are in the .50-.80% range. This account has a nice $150,000 limit on the 1.01% APY rate, but it does have the ten $10 transaction requirement which is a pain. The requirement also uses up some spend which could have gone on a rewards credit card. Still, if someone has a lot of cash on hand this account might make sense. We’ll add this to our list of Best High Yield Savings Accounts.