Business Checking

Different types of businesses have different financial needs. Salem Five offers a range of checking accounts – so you can find one that feels like it was created specifically for you.

Switching to a Salem Five checking account is easy! Click here to give us a try.


 
       
   
  Free Business Checking Business Star Checking Corporate Checking
 
Is this account right for me? This basic account is for businesses with low transaction volume. 75 are included each month. It is a non-interest bearing account with no monthly fees. The business version of our popular Star Checking account, designed for any business with a moderate number of monthly transactions.

200 included transactions per month

Our corporate account is designed for commercial businesses with high balances and higher levels of activity.

Account analysis account Business ATM Debit Business Credit Card

Low, fixed monthly fee

Per-transaction fee, which may be offset by earnings credit

Initial Opening Deposit $50 $50 $50
Fees Related to Account $0 $25 $20
Minimum Balance to Waive Maintenance Fee

N/A

$5000 Average Daily Ledger Balance/$25,000 Combined Average Ledger Balance (loans are not included) N/A
ATMs

Unlimited Salem Five ATMs,
$2.00 for each foreign ATM withdrawal or inquiry

Unlimited Salem Five and foreign ATMs Unlimited Salem Five ATMs,
$2.00 for each foreign ATM withdrawal or inquiry
Debit Card Free Business ATM/Debit
Business Credit Card
Free Business ATM/Debit
Business Credit Card
Free Business ATM/Debit
Business Credit Card
Transaction Fees 75/month included, then $1 per transaction over 75 200/month included, then $0.75 per transaction over 200 $0.20/debit, $0.90/deposit, $0.12/deposited item
Overdraft/
Savings Companion
$3 OD per sweep w/Statement Savings ($1,000 minimum balance) $3 OD per sweep w/Star Money Market ($10,000 minimum balance & premium rate) N/A
Online Banking

Free online business banking (view and transfer),
Quicken Included

QuickBooks® Available

Free online business banking (view and transfer)

Quicken Included

QuickBooks® Available

Free online business banking (view and transfer)

Web Cash Manager
Custom Features Available:



-QuickBooks®
-Information Reporting
-Wire Transfers
-ACH Origination
-Bill Pay
-Positive Pay

Online Banking w/Bill Pay $5/month Free Fees varies with service options selected
Other Features   Free Personal Star account Monthly account analysis statement that summarizes activity. Analyze your transaction volume and fees, and earn credits that help to offset any fees from your analyzed services.
Investments SFF Branch Advisor available Dedicated Advisor: Succession Planning, 401k Overnight Sweep to REPO

SFF Branch Advisor available

Dedicated Advisor: Succession Planning, 401k
Insurance Comprehensive Insurance review available Comprehensive Insurance review available Comprehensive Insurance review available