Available nationwide, Bank5 Connect High-Interest Savings is offering a staggering 0.40% APY Rate. Continue reading below to learn everything you need to know about Bank5 Connect.
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About Bank5 Connect High-Interest Savings
Bank5 Connect, a banking division of BankFive is an online-only bank, which means there are no physical locations available. They are based in Massachusetts and have been serving their communities for more than 160 years.
Being an online account, they can offer one of the highest rates! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
I’ll review Bank5 Connect High-Interest Savings below.
Bank5 Connect High-Interest Savings 0.40% Rate
To earn Bank5 Connect’s competitive rate, simply have an opening deposit of $10. That’s all it takes and you’ll get to enjoy earning the 0.40% rate on all balances.
- Account Type: High-Interest Savings Account
- Interest Rate: 0.40%
- Minimum Balance: $100
- Maximum Balance: None
- Credit Inquiry: Hard pull
- Opening Deposit: $10
- Credit Card Funding: Unknown, let us know
- Direct Deposit Requirement: None
- Monthly Fee: None
- Early Termination Fee: None
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.40% APY||Review|
|Aspiration||1.00% APY + $150 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
Bank5 Connect ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with Bank5 Connect’s ACH capabilities.
How to Earn Bank5 Connect Rate
- Open a High-Interest Savings account from Bank5 Connect with an opening deposit of $10.
- Maintain a $100 balance amount and earn the 0.40% APY rate.
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Free Online Banking and eStatements
- Free Mobile Banking
- Savings can be used to cover overdrafts of checking account
Check out Bank5 Connect and open a High-Interest Savings account this amazing rate! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Bank5 Connect High-Interest Savings Account.