I had no problems opening an account with Bank5. It took 3 or 4 days, but that's the norm now since the government has put pressure on banks to deter money laundering. The bank did everything I asked, and the best part is they provide unlimited insurance above FDIC limits.
I've dealt with many other banks, and Bank5 rates in the top two or three in satisfaction.
And, no, I'm not an employee.

Comment

Health

B+

Data as of Q2 2024

Data displayed below is for insuring bank: BankFive

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Health Grade Components

Overall
FDIC Certificate #	23286
Year Established	1855
Employees	200
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.39%
Return on Equity - YTD	5.85%
Annual Interest Income	$40MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$1.86B$1.78B
Loans	Q2 2024vs Q2 2023	$1.44B$1.38B
Deposits	Q2 2024vs Q2 2023	$1.31B$1.29B
Equity Capital	Q2 2024vs Q2 2023	$123.5MM$113.5MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$8.6MM$8.7MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$3.2MM$801K
Real Estate Owned	Q2 2024vs Q2 2023	$0$0

Rates

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Savings
Money Market
Checking
CD

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Always verify rates and promotions with the bank or credit union. We are not Bank5 Connect; we are a rate comparison website and cannot provide official rates or promotions.

Bank5 Connect Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
5.10%	$25k	-	Jumbo Savings
1.50%	$100	-	Connect Savings

Bank5 Connect Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
4.47%	$5k	$1m	Accelerator Money Market
1.00%	$100	$1m	Connect Money Market

Bank5 Connect Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
2.70%	$100	-	High-Interest Checking (Connect Checking)

Bank5 Connect CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.95%	$500	-	6 Month CD
4.75%	$500	-	3 Month CD
4.25%	$500	-	12 Month CD
4.25%	$500	-	15 Month CD
3.30%	$500	-	24 Month Investment CD
3.20%	$500	-	18 Month CD
3.20%	$500	-	21 Month CD
0.85%	$500	-	36 Month CD

Locations

Bank5 Connect is an Internet only bank and does not have branch locations. Its headquarters is located at 79 North Main Street - Fall River, MA 02720

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.

Bank5 Connect

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