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Coronavirus FAQs

Answers to the questions we're getting asked the most in light of COVID-19.

We understand that this is a challenging and stressful time for our customers. Below are some answers to the questions we've been getting asked the most in recent weeks. We will be updating this page frequently with additional helpful information. In the meantime, if you have a question that isn't listed here, please contact us at (774) 888-6100.  We are here to help!
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COVID-19 Loan Program
An unsecured personal loan with no interest accrual or payments due for the first 6 months. Learn More
Can I get an extension on my loan payment?
  • If you are unable to make your scheduled loan payment due the COVID-19 pandemic and require an extension, please call us at (774) 888-6100.
Will the branches accept coins through the drive-up window?
  • Our branch drive-ups are not accepting loose coins. If you need to deposit coins you will need to do so using wrappers which can be picked up at the drive-up window. All coin wrappers must have the customer's name and account number written on them, as the coins will be counted and verified after the deposit is made. Please note that only 2 rolls of coins can be sent through the drive-up tube. If you have more than two rolls, you will need to use the drive-up drawer (if the branch has one), or you will need to make an appointment to bring your coin rolls inside the lobby.
How can I deposit a check?
  • ATM - You can deposit a check at any one of our ATMs. Please visit our Locations page to find a BankFive branch near you (please note that our Cranston, Woburn and Wrentham Lending Offices do not have ATMs).
  • Mobile Deposit - Use the BankFive 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 check. Sign the check and write “For Deposit Only” on the back of the check with your account number below your signature. Mail to: BankFive, 79 North Main Street, Fall River, MA 02720.
Can I get a money order at the drive-up?
  • Yes. You can purchase a money order at the drive-up at one of our branches. Please visit our Locations page to find a BankFive branch near you (please note that our Main Office, and our Cranston, Woburn and Wrentham Lending Offices do not have drive-up service).
Can I do a Passbook Savings transaction at the drive-up?
  • Yes. You can conduct transactions for your Passbook Savings account at the drive-up at one of our branches. Please visit our Locations page to find a BankFive branch near you (please note that our Main Office, and our Cranston, Woburn and Wrentham Lending Offices do not have drive-up service).
 ​I would like to be able to conduct my banking online and through the BankFive mobile app, but I don't currently have an Online Banking account. How do I sign up?
  • You can sign up for personal Online Banking by clicking on the "Sign Up" link in the BankFive mobile app, or by clicking the "Register" link in the Online Banking box on our homepage.
  • You can sign up for business Online Banking by clicking on the "Register" link in the BankFive Business mobile app, or by clicking the "Register" link in the Online Banking box on our homepage.
Where can I download the BankFive mobile app? I am using the BankFive mobile app to deposit checks. How long until my mobile deposit will be available to me?
  • Mobile deposits confirmed as received before 4:00 p.m. on a business day will be credited to your account the same day. Deposits confirmed as received after 4:00 p.m. on a business day, and deposits confirmed as received on holidays, or days that are not business days, will be credited to your account the following business day. For information on when your funds will become available (in other words, when you will be able to withdraw them), please review our Funds Availability disclosure by clicking on the "Your Ability to Withdraw Funds" link on our General Disclosures page. Information regarding mobile deposits can be found in the section titled "Deposits at Automated Teller Machines/Mobile Deposit".
How can I access my BankFive Safe Deposit box if your lobbies are closed?
  • You can schedule an appointment to access your safe deposit box by calling us at (774) 888-6100.
Who should I contact to schedule a loan closing now that your lobbies are closed?
  • You can call us at (774) 888-6100.
How can I apply for a loan now that your branch lobbies are closed?
  • You can call us at (774) 888-6100 to schedule an appointment. You can also apply for a mortgage using our online application.
Who should I call if I have questions about a Solar Loan?
  • You can call us at (774) 888-6100.
What are the bank's hours during the COVID-19 pandemic?
  • While our branch lobbies are currently closed (they will start reopening on Monday, June 29th; please see details below), our drive-up windows are still open. Our branch drive-up hours are currently as follows:
    • Monday-Friday: 8 a.m. - 5 p.m.
    • Saturday: 8 a.m. - 1 p.m.
    • The drive-up windows at our DartmouthExpress, and Swansea branches continue to be open on Sundays from 11 a.m. - 3 p.m.
  • Our Customer Contact Center hours are currently as follows:
    • Monday-Friday: 7:30 a.m. - 5 p.m.
    • Saturday: 7:30 a.m. - 3 p.m.
    • Sunday: 11 a.m. - 3p.m.
  • Starting Monday, June 29th, our Flint, Globe, Acushnet Avenue, and County Street branches will open for lobby transactions Monday-Friday. As of Monday, June 29th, hours at these branches will be as follows:
    • Monday-Friday
      • Drive-Up: 8 a.m. - 5 p.m.
      • Lobby: 9 a.m. - 3 p.m.
    • Saturday
      • Drive-Up: 8 a.m. - 1 p.m.
      • Lobby: By appointment only
  • Starting Monday, July 6th, our Bristol, Swansea, Somerset, North, President Avenue, Dartmouth, and Fairhaven branches will open for lobby transactions Monday-Friday. As of Monday, July 6th, hours at these branches will be as follows:
    • Monday-Friday
      • Drive-Up: 8 a.m. - 5 p.m.
      • Lobby: 9 a.m. - 3 p.m.
    • Saturday
      • Drive-Up: 8 a.m. - 1 p.m.
      • Lobby: By appointment only
    • Sunday (Swansea & Dartmouth branches ONLY)
      • Drive-Up: 11 a.m. - 3 p.m.
      • Lobby: By appointment only
  • Due to occupancy limits, our Express branch lobby will remain unavailable at this time. Express branch hours will remain as follows:
    • Monday-Friday
      • Drive-Up: 8 a.m. - 5 p.m.
    • Saturday
      • Drive-Up: 8 a.m. - 1 p.m.
    • Sunday
      • Drive-Up: 11 a.m. - 3 p.m.
  • Our Main Office is currently open for appointments only. To make an appointment at our Main Office, please call us at 774-888-6100.
What is BankFive doing to assist local small businesses who are negatively impacted by COVID-19?
  • We are maintaining a page of resources for small businesses in our community, to help them navigate through this challenging time. This page includes information about emergency loans, grants, and other helpful advice. We also encourage our small business customers to reach out to our Commercial Lenders if they have any specific concerns or questions.
  • On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was passed to help support businesses and families through the on-going novel coronavirus (COVID-19) pandemic. One of the provisions of the bill pertains to companies who have a Small Business Administration (SBA) guaranteed loan. Specifically, SBA borrowers who are current on their loan payments are relieved of any
    obligation to pay the principal, interest and any associated fees for a 6-month period beginning with the first payment due on a loan after March 27, 2020.
Is the money that I have in my BankFive accounts still insured even though I can no longer access my accounts inside the branch?
  • In difficult circumstances, it's not uncommon for banks to have to temporarily limit operations to protect the health of their employees and customers. This may include closing a lobby, converting to drive-up only services, or encouraging customers to use ATMs or digital channels to access their services. Regardless of the bank’s operating conditions, your money is insured by the FDIC. Deposits with an FDIC-insured bank or savings institution like BankFive will continue to be protected up to at least $250,000, and at BankFive deposits in excess of FDIC limits are insured by the Depositors Insurance Fund (DIF).
Will there be enough cash during the COVID-19 pandemic? Do I need to keep large amounts of cash in my possession to protect myself in case there is not enough cash available in the future?
  • The Federal Reserve System has and will continue to meet the currency needs of banking customers. Be assured that sufficient resources are available to handle customer needs. Consumers are encouraged to continue to conduct transactions as they normally would. Credit and debit cards and other payment systems will operate as normal. Keep in mind, the safest place for your money is inside an FDIC-insured bank. Having significant sums of cash to fund more than your normal activities might seem like a good idea, but cash is also subject to loss or could make you a target for theft. Banks will continue to ensure that their customers have access to funds either directly or electronically, and inside an FDIC-insured bank, your funds are protected by the FDIC. Since 1933, no depositor has ever lost a penny of FDIC insured funds. Furthermore, at BankFive, deposits that exceed FDIC limits are covered by the Depositors Insurance Fund (DIF), and no depositor has ever lost a cent in a DIF-member bank.
How do I know where my Stimulus Check money will go?
  • The IRS will deposit money to eligible tax payers based on the bank deposit information used for their most recent (2018 or 2019) refund. If you did not receive a refund, visit https://www.irs.gov/coronavirus/economic-impact-payments and click on the "Get My Payment" button to check your payment status.
The account I used for my last tax refund deposit is now closed. How can I update my new account information so I will receive my Stimulus Check there?
  • If you have not yet filed your 2019 taxes, and the bank account information on your 2018 tax return is outdated, the IRS urges you to file your 2019 taxes electronically as soon as possible, with your updated bank account information. According to https://www.irs.gov/coronavirus/economic-impact-payments, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. 
I've never designated a bank account to receive a tax refund deposit at. How can I designate a bank account to receive my Stimulus Check?
  • If the IRS does not have your direct deposit information from a 2018 or 2019 return, and you have not yet received your payment, visit https://www.irs.gov/coronavirus/economic-impact-payments and use the "Get My Payment" application to let the IRS know where to send your direct deposit.
If you have a question that is not answered here, please don't hesitate to contact us via our Contact Form, or by calling us at (774) 888-6100.
Additional Resources
Quick links to some helpful information.