This ring from Quontic Bank is a debit card that you wear on your finger…definitely an odd concept
at first but this is actually an incredibly unique and useful product. Alright, let's jump
right into it. What is going on everyone I hope you are all having a fantastic day. So Quontic
offers a number of financial services including checking accounts, savings accounts, mortgages,
and now their incredibly unique Quontic Pay ring which I have to say after reviewing hundreds of
different platforms and financial tools, I've never seen anything like this before. I do want
to thank Quontic for sponsoring today's video but I'll always this will be a fully open and
honest review and I’d love to know what you think of this unique product in the comments
section and there is also a link down below like button where you can sign up if you want
to get your Pay ring for free for a limited time. Okay so how exactly does this work, what benefits
is it going to offer you, and is this product actually worth getting. Well first of all to get
the Ring you do have to have a Quontic checking account where the funds that you're spending
will be pulled from. They have a few options including one that helps you earn free Bitcoin,
but I recommend Quontic’s High-Interest Checking account. Right now this account pays 1.10%
APY on your entire account balance when you make at least 10 qualifying point of sale transactions
of $10 or more per month. If you're using this as your main banking platform and you're looking to
get this really unique ring that we'll talk about in a second, then hitting that threshold really
shouldn't be an issue, and earning over 1% for a checking account is pretty competitive right
now. You’ll get a fully mobile and online banking experience with no monthly or overdraft fees and
FDIC insurance. I do want to point out that there is a minimum deposit requirement of $100 when you
open your account but again it's not that big of a deal if you plan on using it as your main banking
platform. And lastly, you can also withdraw cash from this account at over 90,000 free-to-use ATMs
across the country switch including the Allpoint network and Money Pass networks among others all
of which are located at a number of your favorite retail locations. Alright so again if you want to
see a more in-depth breakdown of the more standard banking tools that Quontic offers then let me know
down in the comments section but we have got to talk about this debit card ring because
again I've never seen this before and needless to say…it caught my attention. So Quontic is calling
this the next wave of banking technology and I think that’s great in a space that far too often
remains stagnant and the same as it was decades ago. With the entire financial technology sector
booming in the last few years, it's great to see someone releasing a really unique product but how
does this actually work. Well you can see here that the Quontic pay ring is a pretty standard
black ring that again you can get for completely free right now using the link in the description.
When it comes to actually paying for items, you simply make a fist and tap your hand to the card
reader just like you are knocking on a door and just like you would tap your phone or a card that
has contactless payment. Again it's the proximity to card reader but also the positioning of the
ring itself so anyone who just waves a reader near your hand is not going to be stealing your
money or anything and the ring has to be facing downwards directly towards the card reader. Okay
so the first question that obviously came to mind when I first saw this product is…is that actually
useful? And I think it's a complex answer that honestly depends on the user. At the moment,
I personally don't wear any rings but seeing that I am getting married soon, I could see a scenario
where if I know I'm going to be out and about or traveling and making a lot of purchases then I
could wear this ring in place of my traditional wedding band. I’m not saying that I want the
Quontic ring to be my wedding band but something that I could substitute in and if you're the type
of individual that likes to wear rings and jewelry then this would probably blend right into your
wardrobe and no one would ever know that you're wearing a debit card on your finger. The other
question that quickly came to my mind is what if the battery dies and the amazing thing is that
there is no battery. You don't need to lug around charging cables or battery packs, this product
works with the exact same tech that is built into a contactless payment debit or credit card meaning
we don't have to worry about charging it which is definitely a bonus in my opinion. Quontic
also states that their product is built to last and is manufactured to be both water and scratch
resistant in order to survive the normal wear and tear that comes with any piece of jewelry that
you wear on your hands. And remember that this product is obviously going to be tide back to
your standard Quontic checking account and it is basically used as a substitute for your Quontic
debit card meaning using this product helps you meet that 10 transaction requirement each month
in order earn 1.10% cash back on all of the money in your High Interest Checking account. Okay so I
get this is a bit of a strange concept but I think that they are pushing the boundaries of financial
technology and honestly taking the definition of financial technology to a whole new place.
Plus if you do decide to make Quontic your main banking platform and utilize this unique product,
you can also open up a Quontic savings account, money market account or certificate of deposit
which all that pay some of the highest rates in the industry right now. Money Market and CDs are
two account options that many other modern tech platforms do not currently offer so something that
might be worth checking out. A few other oddball questions that you may be wondering…what if you
don't know your ring size and that’s a simple answer; Quontic will send you a ring sizing kit
and send you the pay ring or the size that you select so no worries there. And since the ring
is accepted anywhere that you see the contactless payment symbol which is much more common nowadays
than it was even just a few short years ago that means that this product is actually useful
anywhere that things like ApplePay GooglePay SamsungPay or Zelle are accepted. Personally,
I love the concept and think that this has a lot of potential going forward and for the right user,
this is definitely a product worth getting especially if you are a minimalist since this
means that you're basically wearing your wallet on your finger. And honestly, I feel like this is
just the first of many unique wearable financial products that are to come and it wouldn't surprise
me if we see these financial technology companies getting more and more creative in the coming years
on how to move the industry forward and blend that world of old traditional finance and modern
technology not only on the software side of things with the platforms we use but now getting into the
hardware space and ways that we can truly integrate our finances into our everyday
lives. Again I totally understand that this is a very unique product so I'd love to know what you
think of the Quontic Pay Ring down in the comment section below and the advantages and disadvantages
that you see from a product like this. Remember if you do want to sign up for your Quontic Pay ring
and get it for completely free for a limited time then I will link to a sign up for that down below
the like button. Huge thank you to Quontic for sponsoring today's video and for creating this
incredibly unique product that regardless of your opinion on it, is going to help move the financial
technology industry in a whole new direction. Be sure to hit the like button and subscribe to the
channel for more content like this in the future and of course thank you so much for
your time I really do appreciate it so much. Take it easy and I'll see you in the next one!