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

BankFive is headquartered in Fall River and is the 33rd largest bank in the state of Massachusetts. It is also the 662nd largest bank in the nation. It was established in 1855 and as of June of 2022, it had grown to 217 employees at 16 locations. BankFive's savings rates are 15% higher than 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 - YTD0.62%
Return on Equity - YTD7.95%
Annual Interest Income$23.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.62B$1.33B
LoansQ2 2022vs Q2 2021$1.25B$982.3MM
DepositsQ2 2022vs Q2 2021$1.27B$1.17B
Equity CapitalQ2 2022vs Q2 2021$105.9MM$102.4MM
Loan Loss AllowanceQ2 2022vs Q2 2021$9.6MM$7.6MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$1.9MM$2.2MM
Real Estate OwnedQ2 2022vs Q2 2021$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

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

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
0.45%$500-30 Month Bump-up CD
0.35%$500-18 Month CD


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