Frequently Asked Questions

Fast answers to common questions.

Choose a topic below, or browse our entire inventory of frequently asked questions. If you have a question we haven’t answered here, don’t hesitate to contact us.

Contact Us
Account Numbers & Routing Numbers
Account Opening
Address Changes
Apple Pay
ATMs
Beneficiaries
CDs
Check Reorders
Debit Cards
Deposits & Mobile Deposits
External Transfers
Fees
Hours & Holidays
Mint.com
Monthly Statements (eStatements & Paper Statements)
Name Changes
Online Banking & Mobile Banking
Overdraft Protection
Purchase Rewards

 

Account Numbers & Routing Numbers

What is Bank5 Connect's routing number?
Bank5 Connect's routing number is 211370642.

Where can I find my Bank5 Connect account number?

  • On your checks
    • Your account number is the second grouping of numbers at the bottom of your checks (the first grouping of numbers is the bank’s routing number).
  • Within Online Banking
    • Log into your Online Banking account via our homepage and click on the name of the account in the “My Accounts” section. Then, click on the downward pointing arrow under “Account Details”. The type of account, the account number, the APY, the interest rate, and the accrued interest will now be visible.
  • By calling us
    • ​If you do not have checks, or access to Online Banking, please call us for your account number at (855) 552-2655.

Account Opening

How do I open an account?
You can open an account online via our online application at https://secure.andera.com/index.cfm?fiid=5C7E3BD5778D45FAA620A4BACFCA01EC

Is the online application secure?
Yes. Bank5 Connect uses encryption for online security. Encryption technology helps provide secure transmission of information along the Internet by encoding the transmitted data using a mathematical formula to scramble the data. Without a corresponding “decoder”, the transmission would look like nonsense and would be unusable.

Who can open an account?
U.S. residents who are at least 18 years of age, and reside in a state other than Massachusetts or Rhode Island are eligible to open a Bank5 Connect account. For more information about why Massachusetts and Rhode Island residents are not eligible for Bank5 Connect accounts, please visit us here

What documents do I need to open an account?
You will need your Social Security Number, a valid ID (driver’s license, state ID, military ID, or passport), your previous home address (if you’ve lived at your current address for less than two years) and something to fund your new account (credit card, debit card, checking account, or savings account).

Can I open an account if I have a security freeze in place?
No. In order to protect our customers and applicants, and to help prevent fraudulent accounts from being opened in their name, we will not open accounts for applicants who have a security freeze on their credit accounts. Please remove the freeze before filling out the online application.

I tried to open an account online but was declined, even though I have great credit. What’s the deal?
Please note that credit score does not factor into our decision to open a deposit account. That said, as an online bank we do have strict policies in place to safeguard against fraudulent accounts being opened. We take identity theft and security very seriously and only open an account when we are truly confident in the identity of the applicant. In addition to the application itself, we utilize ID information provided to us by consumer reporting agencies to help validate each applicant. Please see the question below, “Why was my application declined?” for more information regarding why your application may have been denied.

Why was my application declined?
There are many reasons why your application may have been declined. One of the most common reasons is failing the ID verification process. As an online-only bank, we take identity validation very seriously, and will not open an account unless we are confident that the applicant is who they claim to be. We use the best industry technology available to us, but unfortunately these tools are not perfect and sometimes a valid applicant can be rejected. If you believe your application was declined in error, please call us at (855) 552-2655 and we will be happy to work with you one-on-one to validate your identity and establish your account.

Other reasons for a declined application can include:

  • Having outstanding debt at another bank (often because of unpaid bank fees)
  • History of frequent overdrafts
  • History of account abuse

If your application was declined, you will hear from us regarding why, but we would also recommend reviewing your ChexSystems report to see if there is any specific negative information that could have influenced the decision. You have the right to dispute any information contained in your consumer file at ChexSystems. Please visit Chexsystems.com for more information.

How long will it take to open my account after I apply?
The account will be opened within 48 business hours of application approval.

How soon after my account is opened will I have access to the funds in it?
You will have access to the funds in your account within 5 business days from the date the funds were deposited into the account.

How long after opening my account will I be able to access it via Online Banking?
You will be able to access your account in Online Banking within 48 business hours of the account being opened.

How will I get my new account agreements disclosures?
All agreements and disclosures will be provided to you electronically during the online account opening process. You can also obtain a copy of our agreements and disclosures at any time by visiting our Disclosures page.

Address Changes

How do I change my mailing address?
You may change your mailing address by completing a Change of Address form. The form is available by logging into your Online Banking account via our homepage and clicking on the “Address Change Request” link under the “Secure Forms” menu. You may also call us at (855) 552-2655 to have the form sent to you.

Apple Pay

Can I use my Bank5 Connect debit card with Apple Pay?
Yes. You can add your Bank5 Connect debit card to Apple Pay and easily make purchases with any compatible Apple device. Visit https://support.apple.com/en-us/HT204506 for more information.

ATMs

Where can I find Bank5 Connect ATMs?
While there are no Bank5 Connect-branded ATMs, Bank5 Connect is part of the SUM Network, which gives our customers free access to thousands of ATMs nationwide. And, if you use an ATM outside of the SUM Network we still won’t charge you, but keep in mind that the owners of out-of-network ATMs might. But, we’ll reimburse you for any ATM surcharges you incur from out-of-network ATMs, up to $15 per statement cycle.

Are there any ATM withdrawal limits with my Bank5 Connect Checking account?
The daily ATM withdrawal limit for Bank5 Connect Checking accounts is $500.

What should I do if the ATM eats my card?
To report a lost or stolen debit card, please call us immediately at (855) 552-2655 during regular business hours, or after hours at 1-800-472-3272.

Can I deposit money into my Bank5 Connect Checking or Savings account via an ATM?
No. But you can deposit money into your Checking or Savings account in these ways:

  • Direct Deposit – Set up direct deposit with your employer, and have your paychecks go directly into your Bank5 Connect account
  • External Funds Transfer – Log into Online Banking via our homepage and move money into your Bank5 Connect account from your accounts at other banks.
  • Mobile Deposit – Use the Bank5 Connect mobile app to deposit your checks by snapping a photo and following the in-app instructions.
  • By Phone – Call us at (855) 552-2655 and we will walk you through the process.
  • By Mail – You can send us a check for deposit via U.S. Mail. Just sign it, write, “For Deposit Only” on the back of the check along with your account number, and mail it to: Bank5 Connect, 79 North Main St. Fall River, MA 02720

Beneficiaries

How do I add a beneficiary to my Bank5 Connect account?
To name a beneficiary on a Bank5 Connect account, please call us at (855) 552-2655. We will need to send you a form – either by email or U.S. Mail – and you will need to fill it out, have it notarized, and return it to Bank5 Connect.

CDs

How do I receive my money when my CD matures?
When your CD reaches maturity, simply contact us at (855) 552-2655, or log into Online Banking and send us a Secure Mail to let us know what you’d like to do with the funds. You can choose to roll the funds over into a new CD, or we can transfer the funds to another account for you, or mail you a check.

Can I make additional deposits to my CD after I open it?
It depends. If you open a 24-Month Investment CD with us, you can make additional deposits during the term of the CD. This is an “add-on” CD, and you can make unlimited deposits into the account whenever you’d like. If you open one of our other CDs however, you will not be able to make deposits after the account is opened, until the CD matures. Once the CD matures, you will have the option to withdraw your funds, or roll your deposit over into a new term. If you choose to roll your deposit over into a new term, you will have the option to add additional funds at that time.

Is there an early withdrawal penalty if I withdraw funds from my CD before it matures?
Yes. If you withdraw funds from your CD before the end of the term, you will be charged an early withdrawal penalty equal to 3 months’ interest if the CD term was less than one year, or equal to 6 months’ interest if the CD term was one year or greater.

Check Reorders

How can I order new checks?
You can order checks from our preferred partner, Harland Clarke. You can place your check order through Online Banking. Just log into your Online Banking account and click “Check Order” under the “Additional Services” menu. Please note that while there are many check providers who can print checks, Harland Clarke offers free added benefits including recovery support, lost wallet and document replacement, check replacement, and expanded support.

Debit Cards

How do I request a new debit card?
If you already had a debit card with us and it has been damaged, lost, or compromised, please call us right away at (855) 552-2655. Please be aware that there is a $10 replacement fee. If you didn’t request a debit card at account opening and have never had a debit card with us before, you will need to complete an application. You can obtain this form by logging into your Online Banking account and clicking on the “ATM/Visa Debit Card Application” link under the “Secure Forms” menu.

How long will it take for me to receive my new debit card?
You should receive your debit card within 10 business days. Please note that your account must be funded before your debit card will be sent out.

What should I do if my debit card is lost or stolen?
To report a lost or stolen debit card, please call us immediately at (855) 552-2655 during normal business hours, or after hours at 1-800-472-3272.

How do I activate my debit card?
Call 1-800-757-9848 and answer the prompts to activate your card.

Does my Bank5 Connect debit card have a daily purchase limit?
Yes, your Bank5 Connect debit card has a daily purchase limit of $1,000. If you need to extend that limit, please call us at (855) 552-2655.

Is there a limit to the amount of money I can withdraw from an ATM with my debit card?
Yes, the daily ATM withdrawal limit for Bank5 Connect Checking accounts is $500.

Is my Bank5 Connect debit card eligible for Apple Pay?
Yes. You can add your Bank5 Connect debit card to Apple Pay and easily make purchases with any compatible Apple device. Visit https://support.apple.com/en-us/HT204506 for more information.

Does Bank5 Connect offer a debit card rewards program?
Yes. Your Bank5 Connect debit card is eligible for our Purchase Rewards program.

Deposits & Mobile Deposits

How do I deposit money into my Checking or Savings account?
You can deposit money into your Checking or Savings account in these ways:

  • Direct Deposit – Set up direct deposit with your employer, and have your paychecks go directly into your Bank5 Connect account
  • External Funds Transfer – Log into Online Banking via our homepage and move money into your Bank5 Connect Checking account from your accounts at other banks. (External Funds Transfer is not currently available with Bank5 Connect Savings accounts, however you can transfer funds from a Bank5 Connect Checking account to a Bank5 Connect Savings account with our Internal Funds Transfer option).
  • Mobile Deposit – Use the Bank5 Connect mobile app to deposit your checks by snapping a photo and following the in-app instructions.
  • By Mail – You can make a deposit by mail by sending us your checks. Sign the check and write “For Deposit Only” on the back of the check with your account number below your signature. Mail to: Bank5 Connect, 79 North Main Street, Fall River, MA 02720

How do I deposit additional funds into my 24-Month Investment CD?
One way to deposit funds into your 24-Month Investment CD is to open a Bank5 Connect Checking account. Through our Online Banking platform, you can transfer money into your Bank5 Connect Checking account from other banks, and you can transfer money from your Bank5 Connect Checking account to your Investment CD via Online Banking or Mobile Banking. Another option is to initiate the transfer at another bank.

How long will it take for a mobile check deposit to hit my account?
Deposits made before 4:00 p.m. ET on a business day are processed that same day and funds are generally available within 2 business days after the deposit. If the deposit is made after 4:00 p.m. ET on a business day, or if the deposit is made on a non-business day, it will be processed the next business day, and the funds will generally be available within 2 business days after the day it is processed. Longer holds may be applied on an individual basis for various reasons.

External Transfers

How do I transfer money to and from my Bank5 Connect Checking account and accounts I have at other financial institutions?
If you have a Bank5 Connect Checking account, you can easily transfer money to and from that account, and the accounts you have at other financial institutions. Simply log into Online Banking and click the “External Transfers” link under the “Move Money” menu. If it’s your first time using the External Transfers service, you will need to register. Once you have registered, and added your external accounts, you will be able to make transfers to and from your Bank5 Connect Checking accounts and your accounts at other banks.

At this time the External Transfers service is only available in Online Banking. It is not available via the mobile app. If you need to make an External Transfer from a mobile phone, you will need to log into your Online Banking account on your mobile device via the Login button on our homepage.

How do I transfer money to and from my Bank5 Connect Savings account and accounts I have at other financial institutions?
At this time, the External Transfers service is only available for Bank5 Connect Checking accounts. If you want to move money to and from a Bank5 Connect Savings account, we would recommend opening a Bank5 Connect Checking account to move money between Bank5 Connect and other financial institutions. You can then transfer money to and from your Bank5 Connect Checking and Bank5 Connect Savings accounts via our Internal Transfers service. Simply select either “Make a Transfer” or “Schedule a Transfer” links under the “Move Money” menu in Online Banking or the mobile app.

How do I access External Transfers on the Bank5 Connect mobile app?
At this time the External Transfers service is only available in Online Banking. It is not available via the mobile app. If you need to make an External Transfer from a mobile phone, you will need to log into your Online Banking account on your mobile device via the Login button on our homepage. Then, click the “Menu” link at the top left of the page, click “Move Money”, and then click “External Transfers”.

Fees

What fees are associated with Bank5 Connect accounts?
Please refer to our Fee Schedule for information regarding our fees.

Hours & Holidays

What are Bank5 Connect’s hours?
Our Customer Service Representatives are available by phone at (855) 552-2655 during the following times:
            Monday-Wednesday: 7:30 a.m. ET to 5:00 p.m. ET
            Thursday-Friday: 7:30 a.m. ET to 7:00 p.m. ET
            Saturday: 7:30 a.m. ET to 3:00 p.m. ET
            Sunday: 11:00 a.m. ET to 3:00 p.m. ET

We are also available via live chat Monday-Friday between 8:00 a.m. and 4:30 p.m. ET

On which holidays is Bank5 Connect closed?
Bank5 Connect follows the Federal Reserve’s Holiday Schedule. Our Customer Contact Center will be closed on the following holidays (please note that if the holiday falls on a Sunday, we will be closed on the following Monday as well):

  • New Year’s Day
  • Martin Luther King Jr. Day
  • Presidents Day (also referred to as Washington’s Birthday)
  • Memorial Day
  • Independence Day (also referred to as the Fourth of July)
  • Labor Day
  • Columbus Day
  • Veterans Day
  • Thanksgiving Day
  • Christmas Day

In addition, our Customer Contact Center typically closes early on Christmas Eve and New Year’s Eve. We recommend checking the Bank5 Connect homepage a few days in advance of Christmas Eve and New Year’s Eve, as exact closing times will be posted there.

Please note that we are also typically closed on Easter Sunday as well, but because Easter is not a Federal Reserve Holiday, we are open the following Monday.

Online Banking & Mobile Banking

How do I sign up for Online Banking?
You will automatically be enrolled in Online Banking when your account is opened. You will receive your initial login instructions via email shortly after opening and funding your account.

How do I log into Online Banking?
You can log into your Online Banking profile via our homepage, or through the Bank5 Connect mobile app.

Why do I keep getting asked for a security code every time I try to log into Online Banking?
Our Online Banking platform utilizes multi-factor authentication in order to safeguard our customers’ accounts. Any time you attempt to log into your account from an unrecognized device or internet browser, you will be prompted to generate a security code, which will be delivered to you by phone call, text message, or email (depending on your account settings and preferences).

Clicking the “register my private device” button during multi-factor authentication will generally prevent you from needing a security code during future logins from that same browser and device, however any time you clear your browsing history, utilize a private browsing window, or use a browser or device you’ve never used before, you will be prompted to complete multi-factor authentication again.

I requested a security code to log into Online Banking, but I haven’t received it. What should I do?
If you’ve requested a security code for multi-factor authentication, but haven’t yet received it, we recommend trying another delivery method. For example, if you chose the “Call me” method and didn’t receive a phone call, try the “Text me” or “Email me” option instead, if they’re available to you. Unfortunately, the delivery of the security codes needed for multi-factor authentication can sometimes be blocked by your phone carrier, email provider, or internet service provider. For this reason, we recommend enabling various forms of communication such as email, text message, and phone call delivery. That way, if you have trouble retrieving your security code, you can try another delivery method.

If you don’t yet have multiple communication methods enabled, and are not able to retrieve your security code, you may call us at (855) 552-2655 for assistance accessing your account. Once you are able to log into your account, we would strongly recommend adding another method of communication for your account to avoid this problem in the future. Your security options can be designated within Online Banking by clicking “My Settings”.

What should I do if I forget my Online Banking username or password?
If you have forgotten your Online Banking password, click the “Forgot Password” link near the Online Banking login box on our homepage.

If you have forgotten your Online Banking username, click the “Forgot Password” link near the Online Banking login box on our homepage, and then click on the “I forgot my username” link that appears at the bottom of the page.

Where can I download the Bank5 Connect mobile app?
You can download the Bank5 Connect mobile apps from the iTunes App store and the Google Play store.

For iOS: https://itunes.apple.com/app/id642903422
For Android: https://play.google.com/store/apps/details?id=com.ifs.banking.fiid1449

Overdraft Protection

Does Bank5 Connect offer any kind of Overdraft Protection?
Yes, by linking your Bank5 Connect Checking account to your Bank5 Connect Savings account. By having the two accounts linked, the funds you have in your Bank5 Connect Savings account can be used to cover accidental overdrafts in your Bank5 Connect Checking account. Call us at 1-855-552-2655 to link your accounts today.   

Mint.com

Can I use Mint.com to manage my Bank5 Connect accounts?
Yes. To use Mint.com with your Bank5 Connect accounts, follow these steps:

  1. Log into your Mint.com account
  2. Click the “Add Accounts” button
  3. Search for “Bank5”
  4. Select the “Bank5Connect” listing
  5. Enter your Online Banking username and password to link your Bank5 Connect accounts with Mint.com

Monthly Statements (eStatement & Paper Statements)

How do I sign up for eStatements?
As of 1/1/18, all new Bank5 Connect Checking and Savings accounts are automatically enrolled in eStatements at account opening. If you opened a Checking or Savings account prior to 1/1/18 and are still receiving paper statements, or if you have a CD account for which you are receiving paper statements, you can sign up for eStatements by logging into Online Banking, clicking on the “Additional Services” menu and selecting “eStatements”. You will then need to accept the disclosure, and select the account(s) you would like to enroll.

Is there a charge for eStatements?
No, eStatements are free. While there is a charge of $1 per statement, per month, for Bank5 Connect Checking and Savings accounts that receive paper statements through U.S. Mail, Checking and Savings accounts that are enrolled in eStatements will not incur a fee.

Is there a charge for paper statements?
Yes. There is a charge of $1 per statement, per month, for Bank5 Connect Checking and Savings accounts that receive paper statements through U.S. Mail. If you would like to avoid the paper statement fee, please ensure that your account is enrolled in eStatements. You can enroll your account in eStatements by logging into Online Banking, clicking on the “Additional Services” menu, and selecting “eStatements”. You will then need to accept the disclosure and select the account(s) you would like to enroll.

Name Changes

How do I change the legal name on my account?
If your name has changed, you will need to send us a copy of your government issued ID. If your government ID does not yet reflect your new name, you will also need to send us proof of the name change (for example, your marriage license or divorce decree).

Purchase Rewards

What is Purchase Rewards?
Purchase Rewards is a program that lets you earn cash back by using your Bank5 Connect debit card at participating retailers and restaurants. With the Purchase Rewards program, you receive targeted offers, based on how you shop. The more you use your Bank5 Connect debit card, the more offers you can receive, and the more cash back rewards you can earn.

Is the Purchase Rewards program free?
Yes. There is no cost associated with Purchase Rewards. This program is just another benefit of using your Bank5 Connect debit card.

How do I sign up for Purchase Rewards?
You don’t have to sign up. All Bank5 Connect debit card holders are automatically enrolled in the program. Just log into your Online Banking account and look for the Purchase Rewards box. After you have started to use your debit card on a regular basis, you should begin to see individual offers populate in this box. Clicking the “View all offers” button will take you to a page detailing each of the cash back offers available to you.

How do I use Purchase Rewards?
Once you have offers available to you, click on them in order to activate the offers. We recommend reading the details associated with each individual offer, as each offer has different specifications and requirements associated with it. Then, redeem your offers by shopping at those retailers and restaurants with your debit card. Your cash back rewards will be automatically deposited into your account in the weeks following your qualified purchases.

When will I receive the cash back for the offers I redeem?
Your cash back rewards will typically be deposited into your account one month after the month in which the offer was redeemed . In other words, if you redeemed an offer in September, you should see the cash back reward credited to your account by the end of October. You can keep track of your redemptions by clicking into Purchase Rewards via the “View all offers” button in Online Banking and clicking on the “Earned Deals” tab.

If I have more than one account, will I see the same offers for both accounts?
Offers are matched on an account-level, based on the purchases made with that account’s debit card. If you make different purchases with different accounts, you will see different offers for those accounts. Please note that if you activate an offer for one account, you must use the debit card associated with that account to redeem the offer.

If there are two debit cards on the same account, can both receive the same reward?
No. Offers and rewards are based on the account, not the debit card associated with the account. If an offer is available in an account that has more than one debit card, whichever debit card redeems the offer first will trigger the reward, and the reward will be marked as “used”.

Why don’t I have any available offers?
Offers are based on how you currently shop with your Bank5 Connect debit card, in order to ensure that the offers are relevant to you. If you seldom use your debit card, you may not receive any offers until you begin using your card more frequently. The more you use your Bank5 Connect debit card, the more likely you are to receive relevant offers.

Is my personal information shared with retailers and restaurants?
No. We do not share any of your personal information with the retailers or restaurants that participate in the Purchase Rewards program.

Are my cash back rewards taxed?
No, the rewards are not taxed as income.

If I return an item, do I lose the reward?
No. Because we do not share your personal information, the rewards cannot be lost after you redeem them.

I had an offer that expired yesterday. Can I still get it?
No. Once an offer has expired there is no way to retrieve it. You can view expiration dates for all of your offers by clicking into Purchase Rewards via the “View all offers” button in the Purchase Rewards box in Online Banking, and then clicking the “Expired” tab.

Someone I know received an offer I want. How can I receive that offer as well?
Each offer received through Purchase Rewards is based on how you currently shop with your Bank5 Connect debit card, so the offers you receive are relevant to you. Since everyone’s transaction history is different, there is no specific way to get someone else’s offer, other than to have the same transactional history as that card holder.

How do I opt out of the Purchase Rewards program?
You can opt out of the program by logging into Online Banking and clicking the “View all offers” button in the Purchase Rewards box, and then clicking the “Preferences” tab. In the “Preferences” tab, click the “Opt out” button. Please note that if you choose to opt out of Purchase Rewards, you will no longer receive cash back deals from retailers and restaurants.

I never received the cash back from my offer. What do I do?
Your cash back rewards will typically be deposited into your account one month after the month in which the offer was redeemed. In other words, if you redeemed an offer in September, you should see the cash back reward credited to your account by the end of October. If you have waited the specified amount of time and are still not seeing your reward credited to your account, please call us at (855) 552-2655.

Security

What should I do if I notice any suspicious activity or transactions on my account?
If you notice anything suspicious with your accounts, please call us immediately at (855) 552-2655 to provide details.

What should I do if my Bank5 Connect debit card is lost or stolen?
To report a lost or stolen debit card, please call us immediately at (855) 552-2655 during normal business hours, or after hours at 1-800-472-3272.

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