Bank5 Connect is an online-only bank, and like many online banks its low overhead costs result in more competitive rates than many traditional brick-and-mortar banks. Bank5 Connect was launched in 2013 as an online extension of BankFive, a brick-and-mortar bank based out of Fall River, Mass.
Bank5 Connect offers deposit accounts including checking, savings and certificates of deposit, and features a streamlined online system that allows customers to make deposits, withdrawals and transfers. Customers have multiple customer service options, from phone support to live chat, as well as an online contact form.
Bank5 Connect’s High-Interest Checking offers a great return without a monthly maintenance fee, as does its High-Interest Savings account. Making deposits or withdrawals is easy with options like direct deposit, mobile check deposit and online bill pay. Easy online access and a mobile app make it simple to track spending and keep savings on track. Bank5 Connect CDs come in terms ranging from six months to three years, giving customers flexible savings options.