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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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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 bank make my real estate tax payment if town hall is closed?
  • We have been in contact with several local cities and towns about the upcoming May 1st tax bills. So far there is no indication that this date will be pushed out. Thus, BankFive will be paying real estate taxes as usual. Borrowers do not need to send us their tax bills, as we use a third party to obtain that information from each city or town.
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.
How can I get a money order?
  • 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).
How can I do a Passbook Savings transaction?
  • 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, our drive-up windows are still open. Effective Monday, April 6th, branch drive-up hours will be as follows:
    • Monday-Friday: 8:00 a.m. - 5:00 p.m.
    • Saturday: 8:00 a.m. - 1:00 p.m.
    • The drive-up windows at our Dartmouth, Express, and Swansea branches continue to be open on Sundays from 11:00 a.m. - 3:00 p.m.
  • Our Customer Contact Center remains open, but effective Monday, April 6th it will close at 5:00 p.m. instead of 7:00 p.m. on Thursdays and Fridays. Our Customer Contact Center hours will be as follows:
    • Monday-Friday: 7:30 a.m. - 5:00 p.m.
    • Saturday: 7:30 a.m. - 3:00 p.m.
    • Sunday: 11:00 a.m. - 3:00 p.m.
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.
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.
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.