Complaints

This profile includes complaints for Quontic Bank's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Quontic Bank

  31-05 Broadway Astoria, NY 11106-2648

• 

  Quontic Bank

  425 Broadholllow Road Melville, NY 11747-4713

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/23/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I need help closing an account with **********************. The main branch of the bank is located at ********************************************. The phone number listed on their web site is ************, but they have not answered the phone. Their web site is *************************************************, when I set up the account, I was interrupted and neglected to record my user name, password, or account number. I have tried many times to recover this data, but the web site does not recognize any variation of my user name I have entered. My full name is ***** ****** *****, although I more commonly sign my name as ** ****** *****. I use one of two principal email addresses: ********************** or ********************** My initial deposit, on January 28, 2025, was $1,000.00. It has probably earned some interest, but I dont know how much since I cant log in to the account.

  Business Response

  Date: 02/28/2025

  Quontic Bank has communicated directly with the customer in order to comply with the *****-*****-****** Act (GLBA). A response was sent on February 28, 2025.

• Initial Complaint

  Date:02/22/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a big deposit in Quontic Bank and they stole about $20 of my interest. 11 days ago I sent 2 secure online messages, but for 9 days they never responded, just ignored this customer completely. Even if it's just $20, it is the principle. How can they do this to customers? That means every customer has to calculate interest on their deposits to make sure the bank isn't stealing it. Outrageous! Then, a day ago, Quontic emailed me saying I had an online message to read. I logged in to my account, and the only message there was MY message telling them to pay me my interest! Quontic should pay me back the interest it owes me, plus interest on the owed interest, plus a penalty for stealing.

  Business Response

  Date: 02/24/2025

  Quontic Bank has communicated directly with customer/complainant in order to comply with the *****-*****-****** Act (GLBA). A response was sent on February 24, 2025.

• Initial Complaint

  Date:02/14/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Business Name: Quontic Bank Date of Transaction: February 14, 2025 Amount Paid: $0 (No funds were deposited due to account rejection)Details of the Dispute:I attempted to open a ****************** Account with ********************** on February 14, 2025. During the online application process, I was unexpectedly denied. After calling customer support for clarification, I was informed that my application was rejected because I had a *** turned on during the process.I was then told, without any further explanation, that I am permanently banned from ever opening an account with **********************. The representative refused to provide a reason beyond the *** usage and did not offer any way to appeal the decision. I find this response to be excessive and unreasonable, as using a *** is a common security practice. There was no indication on their website that a *** would result in an automatic, lifetime ban.Businesss Response:Quontic has made no effort to resolve the issue. The representative simply stated that I am permanently banned and refused to offer any further clarification or assistance.Desired Resolution:I would like Quontic to:1.Provide a clear, written explanation of why my application was rejected and why I was banned for ************* their policy on *** usage and reconsider my eligibility for an ***************** their customer service by offering applicants a transparent appeals process rather than issuing blanket bans with no recourse.This practice feels unfair and arbitrary, and I believe Quontic should be held accountable for its lack of transparency and refusal to address reasonable customer concerns.

  Business Response

  Date: 02/20/2025

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the *****-*****-****** Act (GLBA).

• Initial Complaint

  Date:02/06/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Today, Feb. 6, 2025, I filled out an application for Quontic Bank for a money market account. I filled out the form and submitted it and it said there was/were error/s. I thought that I might not have checked all the boxes so quickly went back and checked the boxes. It cam back that there was still an error and I was denied an account, forever! After two tries!! I think it was because I put in 000 in front of my account # instead of only one 0. I have used both ways to pay property taxes, in the past. I can't believe they would deny, forever, an account for two mistakes (might not be a mistake because property taxes went through). I am 80 years old and do make occasional errors.

  Customer Answer

  Date: 02/07/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ****** *****
  
  
  
   
  
  

• Initial Complaint

  Date:01/28/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  While I was traveling on a business trip on the morning of 1/24/25, I applied online to open a money market account with ********************** after seeing an attractive interest rate advertised. Much to my surprise, the application was immediately declined via email not because of an issue with a consumer credit reporting score (800+ for me) but due to their decisioning system not being able to verify some unknown value related to my iPhone/location, address, phone number, and/or personal public records information. As soon as their call center opened, I called for assistance and spoke to a friendly representative who used my email address to review the information that I submitted, then he verbally confirmed that I didnt fat finger any of the inputs. He said he couldnt share any other details about the denial and suggested that I should try again in 6 months. When I calmly expressed my frustration and disappointment and asked that my concerns be shared with management for review, he offered to transfer me to the ********************** accompanied by his caution that they couldnt tell me any more details either. I declined but still asked that my feedback be shared with management. As a highly credit-worthy person who has no debt and significant deposits and investments at other institutions, its insulting, hurtful, and inappropriate to instantly have an application denied to open a very basic, low-risk banking product like a money market account. This clearly flawed decisioning process failed to contact me for any clarification that could have quickly and easily resolved any discrepancy that they thought might exist. This poor business behavior chases away interested customers and reflects poorly on how an ****-affiliated financial institution should operate.

  Business Response

  Date: 02/11/2025

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the *****-*****-****** Act (GLBA).

  Customer Answer

  Date: 02/12/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I have not yet been contacted directly by Quontic Bank as stated in their response referencing the *****-*****-****** Act (GLBA) and am responding within the 6-day window required by the BBB to keep this complaint open/active.

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ****** *********
  
  
  
  
   
  

  Business Response

  Date: 02/21/2025

  ******** *** ********* * ******** * ****** *********
  ***** ******** *** ****
  *** ****** ***** ********* ***

  
  Dea* *** *************** am responding to your BBB Complaint filed on January 28th about your declined Money Market application on January 24, 2025. You spoke to one of my Senior Specialists, ****, in the morning of the declined application. You provided a variety of reasons you believed your application may have been declined. **** reviewed your application and validated that your name was entered correctly. It was explained that we do not review credit scores. **** also explained that we do not know what the specific reason is. I understand that this can be frustrating, but our third-party system could not validate your identity with the details that were provided at that time. The specific reason for the decline is not disclosed to the team members, to protect both the applicant and the bank from potential fraud. As a fully digital bank it is even more critical that we are very sure we know our customer and avoid sharing details that allow fraudsters to circumvent our guardrails. We utilize a sophisticated system for reviewing our applications.
  In your BBB Complaint you wrote that the process failed to contact you for clarification to resolve any discrepancies. We provide some helpful and detailed information about the application process before you can apply, which includes that we do not have a manual review process in place. **** still reviewed your application entries to try to assist.
  Both reading your BBB complaint and hearing the call, it is very clear that your experience was disheartening. You explained that you are a stable individual that should not have been declined. We do take all feedback and work to review and update our decisioning system. **** mentioned checking again in six months; however we recently make some updates to our decisioning system.
  

  I left a voicemail for you this afternoon about having an opportunity to apply again, I cancelled your application. Please ensure you review the disclosures in detail, apply from the area you live in, ensure that there are no VPNs enabled on the device you apply from, and that any freeze, even with ChexSystems, is thawed to provide the best opportunity for approval. Our third-party systems search through millions of records to validate the identity of our applicants. We are clear prior to applying that other factors may also cause an application to be declined outside of what we provide. We use a proprietary model and will not disclose specific reasons for the decline. I completely understand if you do not wish to bank with us, and I do appreciate your feedback.
  

  I hope this clarifies the situation and I am available next week for any further questions.

  
  Sincerely,
  ******* ******* ******
  ******* ******* ******
  VP/Customer Success **********************

  Customer Answer

  Date: 03/04/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ****** *********
  
  
  
   
  
  

• Initial Complaint

  Date:04/23/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had been very excited about moving my funds into Quontic, with a high yield savings account that is more aligned with my values. I had spent months of time doing research on options that I could move to and support for exiting my current bank account. However, ********************** has forced me to look elsewhere. My first application was rejected without a clear reason. I received an e-mail saying that the decision system could not verify one thing or up to four things: device and behavior authentication, address authentication, phone verification, or public records. I called on Friday, April 12, to ask for help. I was told that I needed to turn off my VPN to try again, and to make sure there were no mistakes on the first form (the website says nothing about VPN problems). I was also told that I would get another chance within 24 hours. The second chance came on Monday, April 15 after more than 24 hours (the weekend does not have business days, but even so it would still have been more than 24 hours).I triple-checked the information I put into the form against my bank account statement to make sure everything was aligned. There were no mistakes. My VPN was off.However, my 2nd application was rejected. I used the exact same information to pay my taxes online on that same day. My information, device, address, etc. were all good enough to pay my taxes to the *** and for my bank. I have used the same information and devices for years. For some reason, this was not good enough for Quontic, which despite a flawed decision system will not open an account after a ************************************ e-mailed and called me to simply repeat what the e-mail had already said, no new information was provided.The flawed deciding system turns away potential customers who want to support affordable housing with their money. This is not helpful for growing a business or supporting the community, as a CDFI is supposed to do. The flawed system hurts Quontic and the community it aims to serve.

  Business Response

  Date: 04/24/2024

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).

• Initial Complaint

  Date:03/05/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Quontic Bank is committing fraud by taking our monthly mortgage payments, not crediting us, and then sending us false fraudulent fake "default notices" like the attached. As of now, we only owe partial February 2024 (we have made partial payments), and March 2024 isn't even due yet until the 15th (middle of the month). But in their attached letter they falsely declare that we owe them 3-4 months of mortgage payments. We are also in bankruptcy proceedings SDNY case nos ******** and ******** so their fraud is even more egregious as it violates the automatic bankruptcy stay per 111 USC section 362. Please urgently investigate, assist, and advise.

  Business Response

  Date: 03/20/2024

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).

• Initial Complaint

  Date:10/27/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to file a formal complaint against Quontic, regarding a series of issues I have encountered during my association with their institution. I opened an account with them, deposited $100, and subsequently faced significant challenges accessing my account. This experience has been deeply frustrating and has resulted in financial losses due to inactivity fees that were levied without proper notification.On 2/5/21, I opened an account with **********************, depositing $100 as an initial balance. Shortly thereafter, I encountered difficulties logging into my account. It took an undue amount of time and effort to regain access, during which I discovered that the bank had been charging me inactivity fees without providing any prior notification.Furthermore, the process of reclaiming my remaining balance of $78 was unnecessarily arduous. It required an excessive amount of time and communication, and I still have not received confirmation that the account has been closed, as I continue to receive emails related to the account.I'm requesting a refund of the $12 in inactivity fees that were charged to my account without proper notification. Further, I'm requesting compensation for 31 months of interest on the original $100 deposit, as this money was held by the bank and could have been earning interest elsewhere.I also will require written proof that my account has been successfully closed, and I should not receive any further correspondence related to it.I recommend that Quontic review and improve their customer service processes to ensure that clients do not encounter such challenges in the future.I appreciate your attention to this matter and trust that the Better Business Bureau will help facilitate a resolution. If you require any additional information or documentation, please do not hesitate to contact me at ********** or *********************** Thank you for your assistance in this important matter.

  Business Response

  Date: 10/30/2023

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).

   

  Thank you

• Initial Complaint

  Date:09/07/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Issue Opening Account With **********************

  Business Response

  Date: 09/08/2023

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).

  Customer Answer

  Date: 09/15/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   Still waiting on them to reach out to me.

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *****************************
  
  
  
  
   
  

  Business Response

  Date: 10/11/2023

  Quontic Bank reached out to *************** on 9/18/2023 regarding this complaint, and he responded on 9/19/2023 where he acknowledged Quontic Banks response. Quontic Bank has no further response at this time.

  Customer Answer

  Date: 10/12/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *****************************
  
  
  
   
  
  

• Initial Complaint

  Date:07/20/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened the Quintonic account a few months ago. They make money withdrawal so difficult. First, there was a hard fast arbitrary limit of 2K per week; I could not do more. I needed the money fast to call them and request a wire transfer; they made it so difficult to sign multiple times the same documents and the same email. It has been two weeks, my money is stuck, and I cannot resolve the wire transfer of my money to my legit account. That has been verified and linked properly. It has been a nightmare. They are not closing my account, they are falsely promising that my wire transfer will go through but creating hurdles. My money stuck a nightmare!

  Business Response

  Date: 07/20/2023

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).
  

  Customer Answer

  Date: 07/20/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   They still are creating unnecessary hurdles for already verified multiply requested valid transaction. This is their delay technique with no ******!

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *************************
  
  
  
  
   
  

  Customer Answer

  Date: 07/28/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   The Issue has been resolved after this complain and they made the provision by sending the **** instead of Wire and also after 3-4 phone calls and asking same questions again and again. The identity and authenticity  of the requested was established multiple times. The recipient account was a verified account. The claim that these policies are in the interest of the customer is unfounded and I disagree with it and feels they are simply stating 'boxed response' 

   Anyway, I am out of there. My account has almost zero money. Thanks for the individuals who helped me. But the policies are dubious and certainly are not for the benefit of the customers.

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *************************
  
  
  
  
   
  

  Business Response

  Date: 08/08/2023

  Quontic Bank will communicate directly to the customer/complainant in order to comply with the ********************************** Act (GLBA).