Salem Five Bank: 800.850.5000
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FAQs: Answers to Your Questions


ATM

Q: Will there be any disruption with existing ATM machines?

A: No, there will not be a disruption with existing ATM machines. Over the weekend of the system upgrade, you will still be able to withdraw funds. 
However, your account balances from ATM machines will not be up-to-date until Monday, September 25th, and your ATM withdrawal limits may be affected. Please plan ahead so we can make the upgrade as minimally disruptive as possible.

Q: Will there be any changes to the ATM network outside of Salem Five locations?

A: Beyond our Salem Five ATM locations, we are switching our current surcharge-free ATM network to a different provider. Beginning October 4th, 2017,  you will be able to use your Salem Five ATM and Debit VISA card for fee-free access to more than 55,000 ATMs nationwide using the Allpoint® ATM Network.

Allpoint® provides you with the freedom to get your cash where you want, when you want, wherever you are... without the ATM fees. With over 55,000 ATMs in the Allpoint® Network, your cash is never far away.

Q: Are there any changes to deposits made at ATMs?

A: Effective September 25th, 2017, deposits made via ATM after 3:30pm Monday through Friday, and any time on Saturday, Sunday, or federal holiday will become available on the  second business day from the day of deposit.  This change may affect the availability of funds to pay items presented for payment against your account.

Q: Why does my balance inquiry at the ATM state "Account Unavailable"?

A: During the weekend of our system upgrade, you may receive a message of "Account Unavailable" when you try to retrieve your account balance from an ATM. Your account and your available funds are not affected, but your balances may not display correctly until Monday, September 25th.
DEBIT CARDS

Q: Can I still use my debit card over the upgrade weekend?

A: Yes, you can still use your debit card the weekend of the upgrade. However, the daily card limits currently available to you may change from Friday, September 22nd through Monday, September 25th.

Q: What will be different about my debit card features?

A: For added security, we are introducing phone and text alerts to make you aware of potential fraud on your debit card. If we detect a suspicious transaction on your account, we will first alert you by phone, then by text message, email and written letter to ensure that you are aware of the unusual activity. Simply indicate over the phone, through a text reply of ‘Yes’ or through an email response that the transaction is legitimate, and your card will be immediately available for use. Also, coming this fall, you will be able to freeze and unfreeze your debit card from your phone using the NEW CardValet app. If you misplace or suspect fraud on your debit card, you can freeze the card at the touch of a button, or unfreeze it if you feel the issue is resolved.

Q: For these security features to work, do I need to update my contact information?

A: To ensure this feature works for you, log in to Online Banking, and double check your contact information. You can access this by clicking on ”Settings“ and then ”Profile.“ It’s important that we have the most up-to-date contact information for you to alert you right away if we detect any unusual activity on your account.
DEPOSITS

Q: What will happen to payroll and/or social security direct deposits going into my account?

A: There will be no interruption of regularly scheduled direct deposits over the weekend of the system upgrade or thereafter. Deposits will occur as previously established.
TRANSACTIONS

Q: What does posting order of transactions mean, and is it changing as part of the upgrade?

A: “Posting” is the process by which we record transactions received for credit to (eg, deposit) or debit from (eg, withdrawal) your account.  When a transaction is “posted,” the monetary value of that transaction is added to or subtracted from the balance of your account. Due to the upgrade, the manner in which items are posted against your account is changing. Following the upgrade, generally, your transactions will post as follows:  Scheduled transfers (eg, electronic transfers you scheduled in advance) will post in the morning; Automated Clearing House transactions, or “ACH” transactions (eg, external transfers, direct deposit of Social Security benefits, electronic check conversions, etc.), will post throughout the day,  when ACH credits and ACH debits are received simultaneously, ACH credits will post before ACH debits; In-clearing items (eg, checks not presented for payment at a Salem Five location) post at night during nightly processing, in serial number order, including online bill payments that are issued as checks;  In-person transactions (eg, deposits, withdrawals, internal transfers, checks cashed, wire transfers, etc.) and internal transfers initiated via online banking will post as they are processed; ATM and PIN-based debit card transactions are posted in the order in which you initiated the transaction (please note that signature-based debit card transactions are processed in the order they were conducted based on the date and time provided to us by the merchant);   Transaction-related fees (eg, NSF fees) post at the time the transaction triggering the fee posts to your account (eg, an NSF fee resulting from an ATM transaction that overdraws your account will post simultaneously with the transaction causing the overdraft);  Interest paid to your account posts next, followed by service fees/charges occurring at the time of statement cycle/period.
STATEMENTS & E-STATEMENTS

Q: Will I continue to receive e-Statements?

A: Yes, you will continue to receive e-Statements.

Q: Will there be any changes to statements?

A: If you are a Salem Five deposit customer, depending on your statement cycle, you could potentially receive two statements for the month of September. 

If you are a Salem Five loan customer, in addition to your monthly statement, you may receive important supplementary information about your loan account. Also, your October statement may be sent a few days later than usual.


Q: Are there any changes to my loan payments?

A: Our loan payment processing address is changing. Beginning September 25th, 2017, your payments will now be sent to the following address: 

Salem Five Retail Lockbox
PO Box 75148
Chicago IL  60675-5148

Additionally, the return envelope sent with your loan statement will now state "Salem Five Payment Processing" instead of "Salem Five."

DO NOTE: You may need to update your online bill pay with the new address if you send a paper check for processing.
ONLINE BANKING

Q: Will I need to re-establish my Online Banking login?

A. Yes, you will need to re-establish your Online Banking login. The first time you log in to the Online Banking system, please sign on from a desktop or laptop computer and not a mobile device. Also, you will need to sign up for Mobile Banking and register your devices as well. If you do not have access to a desktop computer, please visit a Salem Five branch where you may use our computer for your initial access.

Q: How do I log in to Online Banking the first time?

A. Please refer to the conversion kit that was mailed to your primary address on file for complete steps on how to log into Online Banking after the conversion. Refer to page 7 of the booklet for instructions on logging in for the first time

Conversion Kit (.pdf)


HOW TO LOG IN TO ONLINE BANKING FOR THE FIRST TIME

  1. Go to www.SalemFive.com.
  2. Log in with your existing User ID (case sensitive) from a desktop computer, laptop computer or tablet via our full website. Your temporary password was sent to you in our conversion kit mailing and is listed on page 7.

    PLEASE NOTE: You will be unable to log in to mobile banking through the mobile app unless you log in to online banking from our full website via a desktop computer, laptop computer or tablet first.

  3. Create a new password, following the instructions listed on the screen.

    PLEASE NOTE: You will enter your temporary password two times, first upon initial log-in and then again when prompted for your “current” password.

  4. Select and answer five (5) challenge questions.
  5. Confirm your telephone number from the options provided. You will then receive a verification alert either through text message or by phone call, depending upon what option you choose.

    PLEASE NOTE: If you choose the text message alert option, you will receive two messages. The verification code you need to insert will display as a 4-digit code (see FAQ below). 

    PLEASE NOTE: If you choose to a receive a phone call, MAKE SURE you have not opted for automatic phone calls to be blocked from your phone service provider. The call will drop if you have opted for this option.

  6. Enter in the verification code presented.
  7. Read and accept the Terms and Conditions (checkbox).
  8. Validate your profile information, email address and/or phone number. 



Q: When enrolling for the first time, why do I have to set-up a phone call or text message to get a verification PIN alert?

A: The system is set-up with additional layers of security to protect your accounts and validate your authorization before allowing access. You must establish these when you sign on as part of your enrollment. If you need assistance, please contact your local Salem Five or call the Contact Center at 800.850.5000. 

In the example below, the verification code is 6321. Your code will be different.

 

 verification code view


Q: Will I need to download a new mobile banking app for my phone?

A: Yes, you will need to download the new Salem Five Mobile Banking app. After the upgrade, log in to your Online Banking account to set up and re-register your mobile device. If you do not have access to a computer, please visit a Salem Five branch, where you may use our computer for your initial access. The old mobile banking app will stop working on September 22nd.

Q: Having issues accessing Online Banking via a Safari browser?

A: Make sure you are not in "private browsing" mode. To disable this on a MAC, follow the screenshots and directions below:

Click here to get out of private browsing on iPhone, iPad, or iPod Touch.

To get out of private browsing on MAC:

  1. Open a new Safari window

Safari Screen Shot

This will open a new window which isn't using private browsing. You can tell the difference by looking at the search bar. If Safari is in private browsing, the search bar is dark.

Safari Search Bar Dark Screen Shot

If you are not in private browsing, the search bar is white.

Safari Search Bar White Screen Shot

BILL PAY

Q: Is "Send Money" the new way to pay bills?

A:
Yes.

Q: How can I confirm when a payment will arrive at a payee?

A: In the new system, the "Deliver By" date is the date it will arrive at the payee. When you initiate a bill payment, the earliest date it could arrive at the payee is displayed. You can adjust that date further out if you wish.

Q: When will funds be debited from my account?

A: PLEASE NOTE: The new system will debit funds differently from the current system. Your online bill payments will no longer be deducted from your account on the date that you schedule them to be paid. Rather, for electronic payments, funds will be withdrawn on the "Deliver By" date you specify. If a paper check is mailed, funds will be withdrawn when the check is cashed/ deposited.

Q: How do I confirm if a payment is electronic or check?

A: When you enter a payment amount and either accept the earliest date provided or select a later date, once you select "Save Money," you will then be able to review your payment on the following screen. It will list the method of payment as either electronic or check above the previously selected "Deliver By" date on the right of the screen.

Q: Only the last five digits of my billing account number is viewable. Will my payees be able to process the payments?

A: Yes. For security reasons, only the last five digits of the account number are displayed. The payees will receive the entire account number to process your payment correctly. If you are uncertain that these digits are the last five of your account number, you can always review/update the payee information. 

PLEASE NOTE: The system will revert back to only show you the last five digits, but with this step you will be certain that the full number was entered correctly.

Q: I have more Bill Payees than I remember, why is this?

A: All Bill Payees, even those who were listed as inactive or ones that you deleted, were converted over. If you no longer use these Bill Payees, you can delete them. 

PLEASE NOTE: If you delete a payee, they will now be deleted permanently.

Q: Why are my payees’ nicknames/aliases not showing up?

A: Your Account Nicknames will transfer over, but your Bill Pay Nicknames will not transfer over to the new system. You will need to set up your Bill Pay Nicknames again in the new system.



Q: If I delete a payee, will it be permanently deleted?

A: No, a payee will never be permanently deleted. If you delete a payee and would like them reinstated, please contact us to make it active again.

Q: I received an email that my eBills were being discontinued.  What does this mean?

A: As a result of the upgrade, eBills have been disabled. Any eBills that are still in the your inbox may still be acted upon until September 22nd.  Future scheduled payments based on an eBill have been canceled and can be set up again in our new system starting on September 25th. Scheduled Bill Payments that are not tied to an eBill are not be affected and will go out as scheduled.
POPMONEY

Q: What is Popmoney?

A: An upgraded version of our current person-to-person payment method, Popmoney is an easy, fast and secure online personal payment service that lets you send, request and receive money directly to and from your bank account with just the recipient's mobile phone number or email address.


Q: Why can’t I access Popmoney?

A: Initial enrollment for Popmoney must be completed within Online Banking through accepting the Terms and Conditions. Once you've enrolled on a desktop computer, then you will then be able to use Popmoney on your mobile device.


Q: Where can I locate Popmoney, External Transfers and Pay Bills functionality in Online Banking?

A: Popmoney can be accessed by choosing the ”Pay People“ tab on the main navigation menu. External Transfers can be accessed by choosing the ”Transfers“ tab, and then clicking the ”External Account Transfer“ link. Bill Pay can be accessed by choosing the ”Pay Bills“ tab.


Q: If I'm a Popmoney Small Business user, how do I use this feature?

A: Popmoney Small Business does have separate features available.


Q. Can businesses use Popmoney?

A. Our small business customers will have access to Popmoney. These customers will be able to:


  • View a comprehensive payables dashboard displaying information such as all outgoing payments and payments outstanding
  • Create customized HTML emails that include a company logo and key payment information
  • Make one-time payments, multiple batch payments, future dated payments and recurring payment plans
  • Enable employee access to the application with restricted permissions
  • Create and send customized, professional invoices
  • Receive payments electronically directly into your bank account
  • View all invoices paid and outstanding, view invoice history and export transaction detail to Excel
  • Define payment terms and early payment discounts, send payment reminders and assess late payment penalties
QUICKEN

Q: How do I modify my Quicken settings for the upgrade?

A: Please click below to get important Quicken conversion instructions.
QUICKBOOKS

Q: How do I modify my QuickBooks settings for the upgrade?

A: Please click below to get important QuickBooks conversion instructions.