Overview / Commentary
79 North Main Street
Fall River, MA 02720

BankFive is headquartered in FALL RIVER and is the 30th largest bank in the state of Massachusetts. It is also the 633rd largest bank in the nation. It was established in 1855 and as of December of 2023, it had grown to 226 employees at 16 locations. BankFive's money market rates are 11X the national average, and it has a B+ health rating.

Reviews (2)

An Ok Bank

This bank is mostly located in Southern MA.  I only use it basically because of its convience.  The bank is just like all the other banks in the area like Webster, Bank of America and so on.  The only down side is I dont consider them a big enough bank. 

ACH Services

My company provides a consulting service that we charge a monthly fee for, these fee's are deducted once a month. We signed up with Bank 5 for this service we have over 600 people we help and that pay us every month. Our business depends on our bank drafting service. Bank Five on December 31st writes us a letter telling us they are revoking our ACH account. That the termination is effective Jan 17th.
They couldn't even give us 30 days.
I am so upset right now this could ruin our business.

Dear Mr. Pepi,

BankFive conducts annual reviews of all companies who initiate ACH and/or Wire transactions using our Cash Management/Business Banking online system. After completing the most recent review of Strategic Transitions, a decision has been made by BankFive to revoke the ACH services for Strategic Transitions effective January 17, 2014. After this date, Strategic Transitions will no longer have the ability to initiate ACH transactions via BankFive’s Cash Management/Business Banking online system. In order to avoid a $50.00 fee, please return the security tokens used for approving ACH transactions to BankFive either in person by bringing them to any BankFive office, or mailing them to:


Attn: Customer Contact Center

79 North Main Street

Fall River MA 02720


Health Grade Components

FDIC Certificate #23286
Year Established1855
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD5.4%
Annual Interest Income$71.1MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.81B$1.71B
LoansQ4 2023vs Q4 2022$1.42B$1.34B
DepositsQ4 2023vs Q4 2022$1.31B$1.32B
Equity CapitalQ4 2023vs Q4 2022$119.5MM$107.7MM
Loan Loss AllowanceQ4 2023vs Q4 2022$8.6MM$10.2MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$1.5MM$1.5MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not BankFive; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankFive Savings Account Rates

0.60%$10-eAccess Savings
0.10%$10-Nickels Savings Account
0.05%$100-Statement Savings
0.05%$10-Student Savings
0.05%$10-Lucky Piggy Savings

BankFive Money Market Rates

4.65%$25k-Accelerator Money Market
0.15%*$50k*-Money Market Account
OTHER TIERS: 0.10% $100 - $50k
0.15%*$25k*-Business Money Market Account
OTHER TIERS: 0.05% $10+ | 0.10% $1k+

BankFive Checking Account Rates

1.00%$10-eAccess Checking
0.15%$100-Relationship Checking
0.05%$10-Basic Checking

BankFive CD Rates

5.00%$5k-3 Month CD Special
4.75%$5k-6 Month CD Special
4.50%$50k-12 Month Add On CD Special
3.00%$100-2 Year Investment CD
3.00%$500-7 Month CD
2.75%$500-11 Month CD
2.65%$500-15 Month CD
2.50%$500-6 Month CD
1.00%$500-1 Year CD
0.90%$500-4 Year CD
0.75%$500-3 Year CD
0.65%$500-5 Year CD
0.35%$500-18 Month CD

BankFive IRA Rates

4.25%$500-1 Year IRA - Branch Only
2.50%$500-6 Month IRA - Branch Only
0.75%$500-3 Year IRA - Branch Only
0.65%$500-5 Year IRA - Branch Only
0.45%$500-30 Month IRA - Branch Only
0.40%$500-2 Year IRA - Branch Only
0.35%$500-18 Month IRA - Branch Only


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