Salem Five Bank — Providing full-service financial services including banking, mortgage lending, loans, insurance and investments.

A Checking Account that Fits Your Needs

Our all-in one checking account that is even better than “free” checking. Enjoy the latest in banking technologies, get support from local experts and easily open online or in a local branch location.

Open Now


 

A Move Worth Making | And Now Get $500*

Simply open a checking account by October 13, 2025 and have $2,000 or more in direct deposits post to your new account within 90 days
  • Must be a resident of MA, NH or RI to qualify
  • Click "Open Now" buttons to open account online
  • Or, open account in-branch and mention promo code: 2025SEP500
  • The $500 bonus will be deposited into your account within 60 days of meeting the criteria
 
Important
Review and save the .pdf instructions to be sure you get your Bonus Promotion between September 15, 2025 - October 13, 2025.
  • 55000

    Allpoint ATMs worldwide

  • 33

    branch locations

  • 170

    years of service

With the Open checking account, you automatically get a number of benefits. See how the perks stack up below. Pair the account with a companion Open Savings account and enjoy no minimum balance or monthly maintenance fee for this account, too!

Blue price tag with a dollar sign ($) in the center.

No Monthly Maintenance Fees

Stylized icon of a wallet with a blue button.

No Minimum Balance

Icon of an ATM dispensing a dollar bill.

No ATM Fees

At 55K+ Allpoint ATMs and all Salem Five ATMs

See how rewarding an account can be.


*To qualify for the $500 offer, the Open Account must be opened between 9/15/25 and 10/13/25 and must have two or more direct deposits with a cumulative amount of $2,000 or more made within 90 days of account opening. Direct deposit is reoccurring income electronically deposited into your checking account for purposes such as payroll, pension, or government benefits. Person to Person payments and balance transfers do not apply. The one-time offer will be deposited into the new checking account within 60 days of meeting the offer criteria. Account must be open with a positive balance at the time the offer is credited. Offer is restricted to one per customer and one per household. Must be at least 18 years of age and resident of MA, NH or RI. Salem Five employees are ineligible. The $500 offer is nontransferable and restricted to those individuals receiving the offer. Customer must be a new customer who has not had a personal checking account at Salem Five within the last twelve months. Customer must provide the promo code of 2025SEP500 at account opening.