Bank5 Connect - Where All Deposits Are Insured in Full
Why place your money in an account that doesn't offer 100% deposit insurance, when you can ensure the safety of every penny with a Bank5 Connect account?
As a Depositors Insurance Fund (DIF) member bank, Bank5 Connect gives its customers the assurance of 100% deposit insurance, meaning all Bank5 Connect customer deposits are insured in full, above FDIC limits. Learn more.
- 100% Deposit Insurance - The Depositors Insurance Fund (DIF) insures all deposits above the FDIC limit in Massachusetts savings banks, including online banks like Bank5 Connect that are based in MA.
- Covers Every Penny Above FDIC Limits - There is no dollar limit to the DIF's insurance coverage; they cover everything above the FDIC limit of $250,000. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
- No Residency Requirements - Even though the DIF is a Massachusetts-based company, you need not be a resident of MA to take advantage of DIF insurance.
- All Bank5 Connect Customers Are Covered - All deposits placed in a Bank5 Connect account are eligible for DIF coverage. Whether you put money in a checking account, a savings account, or a CD, it's all eligible for coverage by the DIF.
- It's Automatic - There are no forms or applications required. You automatically receive DIF coverage the minute you make any deposit.
- Protection You Can Trust - No depositor has ever lost a cent in a DIF member bank!
For more information about FDIC insurance and DIF insurance, click here.