Bank5 Connect is an online-only bank, and I’ll review their Checking and Savings accounts here, along with any current promotions and bonus opportunities.
Just like other online bank competitors, Bank5 Connect has lower overhead costs compared to traditional brick-and-mortar banks, and that results in better rates and fewer fees for the customer.
Bank5 Connect offers Checking, Savings and CD (Certificates of Deposit) account options. You can do just about everything online, including making deposits and transferring funds.
READ MORE: GET TOP BONUSES FROM CHASE, AXOS, AND BMO.
Bank5 Connect Promotions Review Below
Bank5 Connect CD Account Offer
- Available nationwide
- Minimum for APY: $500
- Maximum for APY: –
Bank5 Connect High Interest Checking
*This account currently doesn’t make it onto our High Yield Reward Checking list. See the list here.
The Bank5 Connect High Interest Checking is on top of many “Best Online Checking Account” lists, so let’s see why.
It may not seem like much, but traditional Checking accounts are offering rates like 0.1% APY!
It features most of what you’d expect from traditional Checking accounts:
- Make deposits
- Write checks
- Debit card
- Online bill pay
On top of that, you’re going to get many of the perks you’ll only find with online banking:
- No monthly maintenance fee
- Free online banking/billpay/eStatements
- Free mobile banking
- UChoose Debit Rewards program
- Free first order of basic checks
- Free ATMs anywhere, anytime!
- Bank5 Connect will never charge you for using an ATM and will reimburse other banks’ surcharges up to $15 per statement cycle.
And here’s how the Bank5 Connect High Interest Checking account competes with other online Checking accounts:
- Earns a great interest rate for a Checking account
- Minimum balance to open is only $10
- Minimum balance to earn interest is only $100
| Bank5 Connect Checking Account Fees | |
| First order of checks | Free |
| Cashiers check | Free |
| Overdraft Transfer | Free |
| Incoming Wire | Free |
| Returned Deposited Item | $5.71 |
| Overdraft | $15.00 |
| Uncollected Funds | $15.00 |
| Stop Payment | $15.00 |
| Garnishments | $25.00 |
| Levies | $25.00 |
Bank5 Connect High-Interest Savings Account
You can also choose to link the Bank5 Connect Savings account to the Checking account for overdraft protection. Plus, you’ll earn a bit more interest on the funds that you set aside here.
- The minimum balance to open a Bank5 Connect Savings account is $10.
- The minimum balance to earn interest is $100.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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