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Corporate Online Banking

 

Corporate Online Banking Video Tutorial

 

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 these security features work for you, log in to Corporate Online Banking to be sure that your contact information is correct. To access your profile information on the home page, click on your name in the upper right-hand corner of the screen.

AUTOMATIC DEDUCTIONS


Q: Will Salem Five continue to automatically deduct payments, bills and external loan payments from my account?
A: Yes, Recurring Bill Payments will continue as part of the upgrade. However, you will need to reestablish Recurring Internal Transfers after the weekend of the upgrade.
DEPOSITS

Q: What will happen to incoming Wires or ACH transactions over the weekend of the system upgrade?
A: There will be no interruption to incoming Wires or ACH transactions posted to your account during or after the weekend of the system upgrade. All incoming Wires or ACH transactions will occur as previously established.

Q: Will there be any changes to desktop Remote Deposit Capture?
A: No, there are no changes to desktop Remote Deposit Capture. You will continue to log in to the Salem Five Remote Deposit as you currently do today.

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. For example, if your statement cycle date is on or after September 23rd, you will not receive two statements for the month. However, if your statement cycle date is on or before September 22nd, you will receive two statements.

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

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.

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 the payment will arrive at the payee. When you initiate a bill payment, the earliest date it could arrive at the payee is displayed, and you can specify the date from there.

Q: When will funds be debited from my account?
A: PLEASE NOTE: Your online bill payments will no longer be deducted from your account on the date that you schedule them to be paid. In the new system:

  • For bills paid electronically through bill pay, funds will be withdrawn on the "Deliver By" date you specify.
  • For bills paid by paper check through bill pay, funds will be withdrawn when the check is cashed/deposited.

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 were previously deleted, were carried over to the new system. If you no longer use a Bill Payee, you can delete them. PLEASE NOTE: If you delete a payee after the weekend of the system upgrade, they will be deleted permanently.

CORPORATE ONLINE BANKING LOG IN

Q: How do I login to Corporate Online Banking the first time?
A: 1. 
Go to SalemFive.OLBanking.com/SmallBusiness.
     2. 
Enter your existing Company ID and User ID. PLEASE NOTE: Your User ID is case sensitive.
     3. 
Enter your temporary password, which will be sent by Salem Five in a separate mailing.
     4. 
Once prompted, create a new password for future use. PLEASE NOTE: Your new password will be case sensitive.
     5. 
Enter security questions and select a picture/phrase for your Corporate Online Banking account.
     6.  S
ave your account settings.

   
CORPORATE ONLINE BANKING SECURE BROWSER LOG IN

Q: How do I login to Corporate Online Banking Secure Browser the first time?
A:
1. Go to SalemFive.OLBanking.com.
     2. C
lick on the link at the bottom of the screen to download your Salem Five Secure Browser.
     3.
Installation will begin and a progress bar will be displayed as file folders are created or updated.
     4.
If prompted, please allow ‘Commercial Center Security’ to make changes to your computer.
     5. W
hen complete, select finish and restart your computer.
     6.
Click on the desktop icon created in the installation process.
     7.
Enter the activation key, which will be provided by Salem Five in a separate mailing, and click on the continue arrow.
     8.
Create and Verify your new PIN, which will be used each time you login going forward.
     9.
Select how you prefer to receive your out-of-band verification code through either email or SMS text message.
   10.
Enter the verification code you receive and click on the continue arrow.
   11.
Enter the PIN you previously created, and select login.
QUICKBOOKS

Q: How do I modify my QuickBooks settings for the upgrade?
A: Please click below to get important QuickBooks conversion instructions.

- QuickBooks Online Edition

- QuickBooks Web Connect for Windows

- QuickBooks Web Connect for Mac