Get a $750 Welcome Deposit for eligible new customers who open an 
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- Bank5 Connect Checking And Savings
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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.
Bank5 Connect High Interest Checking
The Bank5 Connect High Interest Checking is on top of many “Best Online Checking Account” lists, so let’s see why.
CURRENT RATE FOR BALANCES OVER $100: 0.76% APY
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 |
BBVA Compass, Simple Bank, Chime and Charles Schwab all have popular online Checking accounts with no fees. Also take a look at Checking Account bonus offers as well. See all the best free Checking accounts here.
MoneysMyLife Top Offer Picks  Earn a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit. Also earn a $150 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 10 days & maintain a $10,000 balance for 90 days. Apply for both offers and get a $350 total bonus. Full Review Get $300 when you open a new Chase Premier Plus CheckingSM account and set up direct deposit. This account has more features than the Chase Total Checking® and the monthly service fee can be waived with a few different requirement options. A $300 Checking bonus is one of the best offers from Chase Bank. Full Review Earn $200 when you open a new Chase Total Business Checking® account, deposit $1,000 in new money within 10 business days of account opening, maintain that balance for 60 days and complete five qualifying transactions within 60 days. This is the most popular Business Checking offer.Full Review |
Apply online for a new TD Bank Checking account to earn either a $300 bonus for the TD Premier Checking account ( $2,500 in direct deposits required), or a $150 bonus for the TD Convenience Checking account ($500 in direct deposits required). This is a limited time offer. 
Get a $750 Welcome Deposit for eligible new customers who open an 
Earn 75,000 miles each year (worth $750) if you spend $25,000 on purchases with the Barclays Arrival® Premier World Elite Mastercard®. This credit card is intended for high spenders looking for a card to carry for the long-term. The card will earn unlimited miles at the rate of 2 miles per $1 spent on all purchases. 
The HSBC Cash Rewards Mastercard® has a sign-up bonus of $150 when you spend at least $500 on purchases within the first 3 months of account opening. This credit card will also earn an ongoing 1.5% cash rewards rate on all purchases and has no foreign transaction fees. There is no annual fee with this card. 
CIT Bank is offering a 1.85% APY rate with their Money Market Account for all balances. This account is available online nationwide and consistently offers one of the best rates in the nation. The minimum opening deposit is $100 and there are no fees for opening or maintaining the account. 
Ally Invest is one of the nation's top choices for a low-cost stock broker, and they now have a promotion where you can earn a cash bonus of $50 to $3500, as well as $500 in commission-free trades. Your cash bonus value will depend on your deposit amount made within 60 days of account opening. 
Simple Bank has an offer where you can earn a $20 bonus after opening their free online Checking account that's available nationwide. You'll then be able to earn unlimited $20 referral bonuses. Direct deposit isn't a requirement and all you and your referrals need to do is open a new account and use the Simple Visa debit card to make a first purchase. 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.
- Current rate for balances over $100: 0.90% APY
- The minimum balance to open a Bank5 Connect Savings account is $10.
- The minimum balance to earn interest is $100.
CIT Bank has great rates on their online Money Market and Savings accounts you should definitely compare to. HSBC has one of the best online Savings options from a big bank. Visit this Savings and Money Market Rates page for a thorough comparison. Be sure to take a look at some Savings account bonuses also. See more below:
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- Popular Direct Online Savings And CD Account Promotions
- Chase Coupon Promo Codes: $200, $300, $350, $500 – May 2018
- HSBC Bank Promotions: $200, $350, $750 Checking Account Bonuses
- Marcus By Goldman Sachs Online Savings & CD Offers, Promotions
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Synchrony Bank Online Savings, CD, Money Market Promotions
- DollarSavingsDirect Online Savings & CD Account Promotions, Offers
- Salem Five Bank Checking, Savings, CD Promotions
Bank5 Connect High Yield CDs
Bank5 actually has some of the best CD rates in the market. Here are some of the benefits:
- Only a $500 minimum deposit
- There are no monthly maintenance fees associated with Bank5 CDs
- Connect CDs have terms of 6, 12, 18, and 36 months
- Investment CD has a term of 24 months
- All Bank5 Connect CDs are FDIC Insured for up to $250,000
- Once the CD matures, you have the opportunity to deposit additional funds and roll it over into a new term
Bank5 CD Rates
| Term | Min. Deposit | Min. Deposit To Earn APY | APY |
| 6 month CD | $500.00 | $500.00 | 1.45% |
| 12 month CD | $500.00 | $500.00 | 1.00% |
| 18 month CD | $500.00 | $500.00 | 1.75% |
| 21 month CD Special | $500.00 | $500.00 | 2.40% |
| 24 month Investment CD | $500.00 | $500.00 | 2.70% |
| 36 month CD | $500.00 | $500.00 | 2.90% |
If you’re interested in a CD account, be sure to read my guide on the best CD rates. Synchrony Bank, EverBank, and BBVA Compass all have popular CD accounts at the moment. More below:
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Popular Direct Online Savings And CD Account Promotions
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- EverBank Review: Checking, Money Market, CD Promotions And Bonuses
- Virtual Bank Checking, Money Market, CD Promotions & Offers
- Live Oak Bank Online Savings And CD Offers, Promotions
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Synchrony Bank Online Savings, CD, Money Market Promotions
- Crestmark Bank Online CD Account Promotions Available Nationwide
- Salem Five Bank Checking, Savings, CD Promotions
*These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.