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
 
       
   
 
Is this account right for me? Interest bearing business checking account. Designed for sole proprietors, government entities and non-profits.
Initial Opening Deposit $50
Monthly Maintenance Fee $12
Minimum balance to waive fee: N/A
Transactions Fees $0.20/debit, $0.90/deposit, $0.12/deposited item
ATMs Free Salem Five ATMs, $2.00 for each foreign ATM withdrawal or inquiry
Online Banking Free Business Online Banking (view only), Online Bill Pay $5/month
Debit/ Credit Card Free Business ATM/Debit
Business Credit Card
Web Cash Manager $7.50, $10, $18/month depending on functionality
Other Features -Earn credits based on account balances to offset most types of transaction charges

-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.
 
       
   
 
Is this account right for me? Available to attorneys or law firms for escrow deposits.

Interest compounded daily and credited monthly

Unlimited monthly transactions

No monthly service charges
Initial Opening Deposit $50
Monthly Maintenance Fee N/A
Minimum balance to waive fee: N/A
Included transactions per month Unlimited
ATMs Free Salem Five ATMs, $2.00 for each foreign ATM withdrawal or inquiry
Online Banking Free Business Online Banking (view only), $5.00 monthly fee for Online Banking Bill Payment
Web Cash Manager $7.50, $10, $18/month depending on functionality
Other Features -Free 24 hour access to Salem Five AccessLine
-Investment Management solutions to fit any business size or need, including credit card acceptance and payroll services
 
       
   
 
Is this account right for me? Non-interest bearing business checking account. Designed for non-profits. 150 included transactions per month.
Initial Opening Deposit $50
Monthly Maintenance Fee N/A
Minimum balance to waive fee: N/A
Transaction Fees 150/month included, then $0.75 per transaction over 150
ATMs Salem Five ATMs included in transaction count
Online Banking Free Business Online Banking (view and transfer), Free Online Banking Bill Payment
Web Cash Manager $7.50, $10, $18/month depending on functionality