Bank5 Connect High-Interest Savings FAQ

Here you'll find a helpful list of Frequently Asked Questions about Bank5 Connect High-Interest Savings Accounts.

How do I withdraw money from my Bank5 Connect Savings Account?

To withdraw funds from your Bank5 Connect Savings Account, you can use:

  • Online funds transfer
  • Telephone transfer
  • Check request
  • A Bank5 Connect Visa Debit Card linked to your account

How many monthly withdrawals am I able to make from my Bank5 Connect Savings Account?

You are allowed to make a total of six withdrawals and transfers per month from your Bank5 Connect Savings Account. This is a federal limit for electronic and telephone transactions from all U.S. savings and money market accounts. You will be charged a $10 fee for each transaction that exceeds this limit.

Can I use my Bank5 Connect Savings Account to cover overdrafts on my Bank5 Connect Checking Account?

Yes. Linking your Bank5 Connect Savings Account to your Bank5 Connect Checking Account is a simple and smart way to cover accidental overdrafts. Call us at 1-855-55BANK5 to link your accounts today. 

Can I transfer money from my Connect Savings Account to my account(s) at another bank?

At this time, external transfers to accounts at other banks are only available through Connect Checking Accounts. Click here to open a Connect Checking Account today!

Is there a minimum balance to open a Bank5 Connect Savings Account?

Yes, the minimum balance to open a Bank5 Connect Savings Account is only $10; the minimum balance to earn interest is just $100. Deposits are FDIC Insured for up to $250,000 and DIF Insured for over $250,000, meaning 100% of deposits are insured in full.

How do I go about opening a Bank5 Connect Savings Account?

Opening a Bank5 Connect Savings Account is easy, click here to open an account online today!