Bank5 Connect is an online-only bank, and like many online banks its lower overhead costs result in better rates and lower costs while still providing the bank products customers use most. Bank5 Connect is a the online extension of BankFive, a brick-and-mortar bank based out of Fall River Massachusetts, and was launched in July 2013.
Bank5 Connect offers deposit accounts including checking, savings and certificates of deposit, all with streamlined online system that makes it easy to make deposits, withdrawals, and transfers. Customers havemultiple customer service options, from phone support to live chat, or an online contact form.
Bank5 Connect provides a full suite of deposit accounts the feature competitive rates and low costs. Its high-yield checking offers a great return without monthly fees, as does the high-interest savings account. Making deposits or withdrawals is easy with options like direct deposit, mobile check deposit, online bill pay. Easy online access and a mobile app make it simple to track spending and keep saving on check. Bank5 Connect CDs come in terms from 6 months up to 3 years to give customers a range of ways to save.
Bank5 Connect is a leader in the online banking space. Evaluate their rates and account options below, then open an account securely to take advantage of these great rate offers.
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The sign-up process featured an end screen that said I had established a checking acct, despite the fact that I did not tick that box. I had to e-mail them to say not to send a booklet of cheques. They limited my initial deposit to 10k, but offered no explanation. Once my acct had been established, and I gained access, I attempted to deposit more, but found that the TO/FROM windows listed only Bank5, i.e., the only possible transaction is a transfer from Bank5 to Bank5. Really? I e-mailed asking what I’d done wrong. Got an e-mail saying they answered my e-mail within the acct. After checking that, it said only ‘Can’t do it.’ When I rang to get to the bottom of this mystery, was told ‘Can’t do it.’ I then asked, ‘How do you expect me to deposit money?’ The answer was, ‘post a cheque in the mail.’ Unbelievable. I asked, How do you expect me to withdraw money?’ The answer was, ‘We’ll issue you an ATM card, and you can withdraw cash.’ It’s like I was in a time warp talking to someone from 1970 who had no clue what an online bank is. The search goes on.