Bank5 Connect Avis 

The insurance protection of deposits in excess of $250,000 was a significant reason for my becoming a customer of your bank. The opening of Trust accounts was made both easy and done efficiently.

Called them the first week of November after receiving a notice in the mail that my checking would be closed for inactivity. They told me they had closed the account the week before and I could not get my money back. When I asked what I could do, they suggested I contact the state government I live in for help (I do not live in Massachusetts where this online bank operates from). I did not know that not making any transactions for roughly three years gave them the right to confiscate my money. No, I would not recommend this institution.

The bank login doesn't work, doesn't recognize user ID or pw nor does it send you an email when requested to change same. The chat box option consistently says "CHAT BUSY'. I'm on hold on the phone now and I'm number 9 in the queue. Fun, right?

Horrible website. Made me doubt it was a legitimate bank.
Have not received my log in credentials.

Very easy to open an account.

Highly skeptical of all the "glowing" reviews of this bank. Disappointing experience trying to open an account online. Website not functional and call to customer service provided the response "we will have someone look into it and get back with you"! Obviously, no one ever got back to me. First impressions of a company are important, if they don't act like they want you as a customer, what kind of service will they provide after you become one?

Update:So Bank5 Connect has responded that if I do not provide additional personal details then "they may not be able to recognize my review as genuine". I guess they think that I have nothing better to do than come on this site and post bogus reviews of their company, which I incidentally had never heard of before a few days ago. I wonder if they requested that all the reviewers who posted 5 star reviews also provide personal information to confirm the validity of their reviews. Sorry, Bank5, you had a chance to earn my business, and you failed twice. The fact that the website did not work as expected is forgivable, but to then have my call to your customer service basically dismissed instead of trying to find an answer to the issue is not. You are not the only bank around.

The online account opening experience is very quick and easy and user-friendly. The lack of fees and high interest rates on the accounts are excellent. My only feedback for improvement would be that it takes up to three business days for your account to show up in online banking after opening it.

I could never complete the application after it was approved, even after turning VPN off. The last screen just kept running with the circle/arrow animation just circling forever. Since I was unable to fund my account, I had to call to cancel it. PC running Win 11 Pro 23H2.

EZ to communicate with. I opened a CD and it was very simple. Would recommend.

Great service! Funded within a day and I am able to manage my account! I am happy overall with the service, and I like savings interest rates!

The online process of opening a CD with Bank5 Connect was completed quickly and efficiently. All communications were through secure messaging, and customer service was very accommodating.

The application process was onerous and redundant. Even after I had successfully linked my external bank account with the Bank 5 connect CD account they still wanted me to send them my bank statement with the account number.

Why was I charged $62.37 for my FIRST order of checks??? You clearly stated, and I quote, "Your first order of checks is free" on your website. I opened my account with $100. I have not used it yet. I ordered my first set of checks for direct deposit through my employer. Now, my balance is $37.63. If you are not going to keep your word on this, I may have to look for another financial institution that I can trust will do what they say. I am highly disappointed.
10/23/2024
External Withdrawal HARLAND / CLARKE CHECK ORDER BILLING CHK ORDER
-$62.37
$37.63

I am delighted to have been contacted by Bank5 so quickly to resolve this matter. Their due diligence shows how they care for their account holders' satisfaction. I look forward to a prosperous future using Bank5 for my financial needs.

All of our interactions with Bank5 Connect have been really good. Most recently we arranged a video call to short cut the steps involved in transferring from a Jumbo savings to a CD. One thing I have always appreciated about B5C is the extra layer of protection provided for funds over the FDIC maximum. Very positive experience so far.

I specifically wanted an account to hold funds for sending to and from a gold account called Glint. After opening the account, I was informed that you could not link to that routing number. This is a Mastercard Checking account. Nothing abnormal or unusual.
I'll be requesting my deposit back and closing the account.

The core function, namely offering a product and setting it up, was satisfactorily completed. However, there was inadequate thought to security.

I received a promotional certificate offer in an e-mail, and the only way I could apply for it was by following a link in the unsolicited e-mail, and providing SSN and other info that should be protected. We all know that spam often comes masquerading as genuine offers from financial institutions. I phoned Bank5 to be sure the offer was legitimate, then proceeded. When the certificate was opened, I was notified by e-mail, and they again disregarded safety concerns by requiring I follow another sketchy link and enter other private information. They need a way to apply for these promotional products online within your account, or at least via phone with a representative.

Helped resolve credit card issue

As per the reply I got from the bank here on my last review, I went ahead and tried to resolve my issue once more. This time instead of calling I tried using the Chat Support to see if I would get help from someone different. I explained my situation and requested to speak to a supervisor. The chat representative told me I would get a call back. A day passed without a call back, so I tried chat support again the next day, and they said the same thing. Finally, I get a call where I was able to explain my situation. It was then explained to me the reason why my application wasn't being accepted was because for some reason in whatever system they use, I don't live at the address I provided. So the supervisor I spoke with told me to send 2 proof of address to the customer support e-mail after our call ended in which I then e-mailed 3 pieces of proof. Now the past 2 weeks I've been waiting. I did call about 3 different times asking for the same supervisor, with every time, being told I would get a call back. Well it's been 2 weeks and I haven't gotten a call back. Safe to say, I'm cutting my losses and keeping the 1 star review. It should not be this difficult to open an account when all my information is legitimate.

I had a somewhat complicated request, and it was handled with expedition and good humor. I think we were on the phone for a good 20+ minutes, but the rep maintained focus and composure. All things were excellent.