4 Simple Personal Checking Options

A Personal Checking Account Designed to Simplify Your Life

To streamline the pairing of our customers with the right personal checking account, the BankFive team, based in MA and RI, takes our Simplifying Your Life philosophy to heart. All of our accounts give you total access to your money from virtually anywhere, practical features that anyone can understand, and great benefits designed with your life in mind. By offering four simple personal checking account options, we give you the choice of products that have many useful features to fit your needs depending on how you bank.

The choice is yours - BankFive gives you the freedom to choose an account that meets your needs and simplifies your life. Take a look at our account options in the grid below and if you have any questions, please contact us anytime, whether through chat, email, phone, or visiting one of our 13 locations.

BankFive Personal Checking Accounts eAccess Checking Student Checking Free Checking Relationship Checking
Monthly Maintenance Service Charge None None None $5.001
In-Branch Service Fee (per visit)2 $5.00 None None None
Earns Interest Yes No No Yes
Minimum balance to earn interest $10.00 n/a n/a $100
Free ATM Transactions Yes3 Yes3 Yes4 Yes5
ATM/Debit Card Free Free Free Free
UChoose Debit Rewards® eligible Yes Yes Yes Yes
Online and Mobile Banking Yes Yes Yes Yes
Online and Mobile Bill Pay Yes Yes Yes Yes
eStatements Free Free Free Free
Pay People (Person to Person payments)6 Yes Yes Yes Yes
External Transfers (To/From BankFive to other bank accounts)6 Yes Yes Yes Yes
  Open Account Open Account Open Account Call 774-888-6100

1 $5 monthly maintenance service charge waived with minimum $10,000 relationship of deposits and loan balances
2 As an Internet-only account, we are passing along our cost-savings of servicing the account only online to you by giving ATM surcharge rebates and interest. We will charge $5 per visit for in-branch transactions.  
3 BankFive will not impose an ATM service fee. However, other banks may impose a surcharge for use of their ATMs. For eAccess and Student Checking accounts, BankFive will refund other banks' surcharges up to $10 per statement cycle.
4 Free at all BankFive ATMs. BankFive does impose a $1.50 service fee at non-BankFive ATMs. Other banks may impose a surcharge for use of their ATMs as well.
5 BankFive will not impose an ATM service fee at non-BankFive ATMs if minimum required balance is maintained. BankFive will charge a $1.50 service fee for the use of a non-BankFive ATM if balance drops below minimum required balance. Other banks may impose a surcharge for the use of their ATMs as well.
6 Standard processing is free. Expedited processing may incur additional charges.
Apply Online Today!

Opening a personal checking account or free checking account at BankFive of Massachusetts and Rhode Island is easy. Pick the personal checking account option that is right for you and apply online today! If you have any questions, call 774-888-6100 to speak with a team member.

Not Sure Yet?

Still not sure which of our personal checking account options is right for you? Below you will find more information about each account option to help you choose the personal checking account that will enhance your banking experience: 

Bigger and Better Benefits with the eAccess Checking Account

Our eAccess checking account is for those personal checking account customers who want access to their accounts from anywhere, at anytime, from any device. This is an internet-only account that is perfect for the person on the go who wants extra perks.

  • Personal Checking with competitive interest rate
  • Free ATM Transactions
  • UNLIMITED ATM/Debit card use
  • $5 Fee for In-Branch Transactions

Why charge a fee for in-branch visits? Customers who primarily bank online-only receive a competitive interest rate and ATM surcharge rebates which the Free Checking account does not offer. These perks are provided in exchange for the customers using our online services versus branch services. Because eAccess Checking customers bank online, it costs us less to offer the account. Those cost savings are returned to customers through the ATM surcharge rebate and competitive interest rate. Any transactions conducted at one of our branches will be assessed a $5.00 fee per visit.

For current rates, click here.

Open eAccess Checking Today!

Get Perks On the Go with Our Student Checking Package

Perfect for students ages 16-24 years of age*, this account allows free ATM withdrawals at all BankFive and SUM ATMs, and also allows for a rebate of up to $10 per month at all other ATMs. This account is easy to access from anywhere with mobile and 5Online, and has no monthly maintenance service charge. This personal checking account level is flexible and can go with you anywhere.

Student Checking includes additional perks:

*On 25th birthday, account automatically changed to eAccess Checking, subject to the terms and conditions, terms of service, and fees of that account.

Open Student Checking Today!

A Free Checking Account with No Hidden Fees

Free Checking is BankFive's basic personal checking account designed to simplify your life without unnecessary fees.

Enjoy all BankFive online services and sign up for a BankFive Visa® Debit card and UChoose Rewards to maximize the benefits of this straightforward account.

  • NO monthly maintenance service charge
  • NO per check charges
Open Free Checking Today!

An Account That Maximizes Your Full BankFive Relationship

The Relationship Checking account offers premier benefits including:

  • Interest on balance*
  • Preferred CD rates
  • Discounts on personal loans
  • Free bank checks

*$100 minimum deposit to earn interest. Fees may reduce earnings. $10 minimum balance required to open account.

To open a Relationship Checking account, call 774-888-6100.

ALL of BankFive personal checking accounts offer the following benefits:

  • 5Online and Mobile Banking
  • Mobile Deposit Capture
  • eStatements
  • Bill Pay
  • UChoose Debit Card Rewards eligible
  • FREE first order of standard checks
  • FREE ATM/debit card use at BankFive ATMs
  • Access your money at any SUM® ATM without a surcharge*
  • Combined statements available

Open An Account Today!

*BankFive is a member of the SUM program. BankFive customers who use their cards at SUM designated ATMs will not be charged an ATM surcharge. However, BankFIve will impose a $1.50 ATM service fee for Free Checking customers who use a non-BankFive ATM. If using a non-SUM ATM, BankFive will reimburse other banks' surcharges up to $10 per statement cycle for eAccess and Student Checking accounts only.


Click here to see common account charges.