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Business Profile

Bank

Quontic Bank

This business is NOT BBB Accredited.

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Complaints

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

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Quontic Bank has 2 locations, listed below.

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    Customer Complaints Summary

    • 20 total complaints in the last 3 years.
    • 8 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:04/11/2023

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Extraordinary how difficult this bank is to work with. After opening the account I changed my mind and wanted to close the account. I had less than $5 and the process for completing a simple address change and processing my request to close the account was the most difficult thing Ive ever had to do at any bank EVER. Multiple layers of telephone verification questions, name, DOB, last 4 of social, when account was opened, full account number (which wasnt available in the mobile app so I had to log in to online banking which requires username, password and two factor authentication to get). Even after providing ALL of that information to change the address the bank requires you to provide utility bill (which you wouldnt have yet if you just moved, another banks statements showing the new address which takes days /weeks to mail to you, or drivers license with the new address which you wouldnt have yet or the **** mail forwarding confirmation). After sending this via the secure messaging system to the agent who just verified all of my information on the phone I then had to take a color picture of my drivers license and upload that as well via the secure messaging system in online banking. This is significantly more hoops and trouble than its worth and WAY more than any other bank would require. Even after all of that the agent still didnt have the ability to change the address - they had to forward the request to another department to complete the address change which means I could even process my request to close the account.

      Business Response

      Date: 04/13/2023

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

      The complainant may use their discretion in sharing our response directly to you.

    • Initial Complaint

      Date:02/22/2023

      Type:Customer Service Issues
      Status:
      Answered
      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.
      Bank offers features but they DO NOT WORK. Have been waiting for customer service to fix for 2 weeks now. Theyre rude and incompetent. And I think its the same 5 people doing the support side of things. Horrible bank with horrible customer service. Stay awayv

      Business Response

      Date: 02/22/2023

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

    • Initial Complaint

      Date:02/16/2023

      Type:Product Issues
      Status:
      Answered
      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.
      Am contacting the BBB after multiple resolution attempts with the concerned business QUONTIC BANK. I opened a CD account with them last June 2022 and have consistently experienced poor service. Additionally, the bank's Terms and Conditions are truly shocking.In good faith I opened this CD thinking it was for a 3-year term last year. However, upon filling out the online application and receiving an online confirmation I found out it was for 60 months. I also did not take the time to read the bank's 40+ pages of disclosures/T&C's when I filled out the online application since I was concerned that the online session will time out and I would have to restart over. The bank also does not offer monthly statements which is a basic document that every bank provides even for Certificate of Deposits (CDs).The bank also shared my CD details only when I demanded a copy of the terms and conditions on February 09 ******************************** proactively upon opening a CD.So I am no longer interested in keeping my money with this bank since a fundamental level of consumer trust has been broken. The bank wants to charge me $2,860.00 in penalties to close out my CD. This is a very steep penalty and I offered to give up all interest earned towards my CD from the time of opening my CD and only requested my principal deposit amount of $50,000.00 back. The interest amounts to greater than $1100.00 already but the bank still refused my proposal.Clearly, this bank does not care about their customers and customer satisfaction. This is very evident from the bank's responses that I have attached.Overall, this bank's terms and conditions are written in such a way that it's really difficult to get your money back and it looks like other consumers have experienced similar issues with this bank going by the BBB complaints.I respectfully request the BBB's assistance to resolve this as per my proposal to Quontic Bank and help me get my $50,000.00 principal deposit back.

      Business Response

      Date: 02/16/2023

      Good Afternoon,

      We are responding to the complaint ID ******** from ******************************

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

      The complainant may use their discretion in sharing our response directly to you.

       

      Thank you

      Customer Answer

      Date: 02/18/2023

      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: 

      The complete text of their response below with my name removed as per BBB guidelines. 

      **** *****

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

       

       

       

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


      Sincerely,

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




       

      Business Response

      Date: 05/09/2023

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

      The complainant may use their discretion in sharing our response directly to you.

      Customer Answer

      Date: 05/10/2023

      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:

      The bank says I am asking for a waiver of my early CD close out penalty when I clearly communicated below message on 2/25/2023. Please note that QUONTIC's early CD penalty for a 5-year term is 2 years/730 days of interest. This is completely out of line with the rest of the banking industry which typically charges a maximum penalty of 6 months interest and in some cases up to a year of accrued interest penalty.  I refuse to pay 2 years of interest as penalty to close out my CD.

      Further, it is my opinion that Quontic Bank is charging such a high penalty fee since this aspect is not regulated by the *** so they can get away with this and in my case claim I consented to this even though I explained multiple times that this was done unknowingly by me since this clause was buried in a 40+ page online Terms and conditions.

      ***************************** Message 02/25/2023 08:12 pm

      *******,

      I disagree with Quontic's statements below. As I explained multiple times,
      there is a fundamental level of consumer trust that I placed in Quontic
      Bank when I opened my CD account but clearly this trust was misplaced
      when I only recently discovered Quontic's shocking terms & conditions and overall customer service.

      In summary I proposed a reasonable resolution which is for Quontic to
      deduct all accrued interest which is ~$1000.00 as of today and to return
      only my principal deposit. I also understand how my **** interest
      penalty will be handled and communicated that this
      is reasonable.

      Unfortunately, Quontic is only focused on
      their T&C's based $2860.00 penalty to close out my CD account which
      is unreasonable and unacceptable from my perspective.

      Regards,

      ******


       

       

       

       

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

      Sincerely,


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








       


    • Initial Complaint

      Date:11/07/2022

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      Working with this bank has been an ultimate nightmare. My file was brought to them through my broker. We were told that they could close our file in a matter of 20 days. Here were are a week past closing date. I'm having to cover extension fees that quontic could care less about. Last week we got no where with them. After providing all the documents needed dumping extra money in the account for last minute reserves for 3 month mortgages and also coming with another request to dump another 13k to cover reserves for a closed and charged off account. Which is unheard of. But ok I did it just so I can get my ctc. I haven't fell short of any documents they've requested I've been very promo with their difficult requests . I have no reason to believe that this company purposely does not want to close my file. We've requested a rush on this file still to be no where and left in the dark. I tried calling and talking with **** the operations team to explain my frustration that if they don't plan to approve this file because we're are wasting time and money with them when another lender is willing to pick up the file, and to simply let us know so we can pull out now. I have reason to believe after reading other reviews of this bank that they really are a scam . I also have more reason to believe I'm being discriminated against and will probably need a internal investigation done on why this company is choosing to give me such a hard time.

      Business Response

      Date: 11/08/2022

      Dear *****************************:

      We are responding to the above referenced complaint ID from ************************

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

      The complainant may use their discretion in sharing our response directly to you.

      Please feel free to reach out to me directly at ************ with any additional questions.

      Regards,



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

      Customer Answer

      Date: 11/08/2022

      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:10/18/2022

      Type:Product Issues
      Status:
      Answered
      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 requires ****** to open an account which they received from my bank--**** ************* I decided I didn't want an online bank account and asked for my money to be returned and close my account. I sent the required downloads they asked for---but they have refused to refund because they couldn't verify **** ************ as my bank account because my first name is different on my checking account as they have listed--even though they got my money from my account with social security number--address--etc. My real name is ******--but have been called ***** all my life. Sign my checks and all things most of time with *****. Please look at signature at bottom of my Alabama Drivers License. I have recently recent all my downloads and my drivers license , noting for them to look at bottom of license. They refuse to let me get into my account. I called--which i have called and sent emails many times--the guy confirmed i still had an account and told me to download again. They are intentionally wanting to keep my ******. Please Help! Thank you!

      Business Response

      Date: 11/08/2022

      Dear *******************************:

      We are responding to the above referenced complaint ID from ****** (*****) ****.

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

      The complainant may use their discretion in sharing our response directly to you.

      Please feel free to reach out to me directly at ************ with any additional questions.

      Regards,



      ******* ******
      VP, Regulatory Compliance Officer
      Quontic Bank

    • Initial Complaint

      Date:08/29/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Hi. I opened an account with Quontic bank. The problem that i am facing with the bank is non of their phone numbers are reachable from *********** (US). The only way i can solve any issue is through email. Any help will be appreciated.

      Business Response

      Date: 08/30/2022

      Dear *****************************, 

      We are responding to the above referenced complaint ID from  **************************

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

      The complainant may use their discretion in sharing our response directly to you.

      Please feel free to reach out to me directly at ************ with any additional questions.

      Regards,



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

    Quontic Bank is NOT a BBB Accredited Business.

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