Bank5 Connect offers a high annual percentage yield (APY) of 2.05%. This rate comes as standard, but it only applies if clients maintain a minimum balance of $100 on their savings account. The account includes other useful perks, such as free mobile and online banking, free eStatements, and the ability to cover checking overdrafts if you link a Bank5 Connect checking account. The account does not include a debit card, but customers can obtain one by opening a checking account. Finally, it's important to note that APY rates are always subject to change, so percentages can increase or decrease after customers open their account.

One of the benefits of a Bank5 Connect's savings account is its minimal set of fees and restrictions. Clients only need $10 to open an account, and the minimum needed for it to earn interest is $100. Users don't have to pay any maintenance fees and there are no penalties for having no money on an account. There are no withdrawal or transfer limits, either, although users can set limits to ATM cash withdrawal to a specific amount acceptable to Bank5 Connect. However, the account follows Regulation D's limit of 6 transactions per month, charging $10 for each transaction that goes above limit. Other fees include $15 on overdraft fees per item, with a maximum of 6 overdrafts fees per day, and $25 on garnishments and levies. As of January 1, Bank5 Connect also charges $1 per bank statement sent through mail, urging customers to opt for their eStatement service.