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What People Are Saying About Bank5 Connect

“All of my dealings with Bank5 Connect’s people have been positive, and your site is well-designed and intuitive.”

~John M.

Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-Bearing Transactions Accounts

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

However, because Bank5 Connect is a member of the Depositors Insurance Fund (DIF), all deposits above the FDIC limit are insured in full. Accordingly, all noninterest-bearing transaction account deposits that are no longer insured by the FDIC will be insured in full by the DIF effective January 1, 2013.

 

 
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What People Are Saying About Bank5 Connect

My wife used to tease me because I didn’t know what a CD was. Thanks to your site, I know all about CDs now and plan to purchase one. My wife still teases me, though. Nothing Bank5 Connect can do about that.
~Bob R.

Why Bank5 Connect is Different

As an online-only bank, Bank5 Connect has low overhead costs, meaning we can offer more competitive rates on our products.

Bank5 Connect offers everything a traditional bank does, including checking accounts, savings accounts, CDs, and more. We also offer online bill pay, eStatements, and free mobile banking.

Feel free to have a look around. If you have any questions, please call us at 1-855-55BANK5, chat with us online, or use our contact form. We look forward to working with you!

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Monday, March 27, 2017