Cash Management FAQs
Do I need to have a special checking account to use Salem Five Web Cash Manager?
For Salem Five Web Cash Manager billing purposes, you can have any type of business checking account.
Will the earnings credit on the Business Premium checking account reduce the cost of using Salem Five Web Cash Manager?
Yes, Salem Five Web Cash Manager's monthly fees can be offset by the earnings credit for customers in this kind of business checking account.
How long does it take to receive my Salem Five Web Cash Manager User ID and Password?
Approximately two weeks after completed agreement(s) and enrollment forms have been submitted.
Will I be provided with a user's manual to learn about and use the product?
There is extensive online help to lead you through all the steps needed to perform transactions. You can also call Salem Five's Business Banking at 978.720.5318 if you still need help.
I need help. Is there someone I can talk to?
Of course, we’re always ready to listen. Just call our product specialists at 978.720.5318. They are available Monday through Thursday 8:15 am to 5:00 pm and Friday 8:15 am to 4:30 pm.
Do I have to install any software on my PC to use this product?
No, you can access the login screen by going to www.salemfive.com/ and clicking on the "Salem Five Web Cash Manager" login button. Additionally, all future enhancements will be done "behind the scenes" and will automatically be available the next time you log in.
What is the required length of my password?
The minimum length is 6 characters with a maximum length of 12. Your password is not case sensitive and can contain letters and/or numbers.
How often do I need to change my password?
The system will force you to change your password every 60 days. Additionally, you may change your password at any time and require user password changes more frequently if you wish.
I have a Mac. Is the direct interface between QuickBooks® and Salem Five Web Cash Manager compatible with a Mac?
No. Unfortunately, the Salem Five Web Cash Manager product is only Windows® compatible.
Can I link all of my business accounts to Salem Five Web Cash Manager?
You identify the accounts to be linked when you sign up for the service. You may link checking, money market and savings accounts as well as term loans and lines of credit. Certificates of Deposit can't be linked. After the initial set up, you may add or delete accounts at any time by notifying us in writing.
Can I link my personal accounts at Salem Five to Salem Five Web Cash Manager?
Salem Five Web Cash Manager is for business accounts only. For personal accounts, click here to learn more about Salem Five Online Banking.
What types of reports can I view and print?
You can view summary and detailed transaction reports on all of your deposit accounts. You can also print the results of your transaction searches. For loan accounts you can view and print all of your loan information including your payment and advance history for lines of credit.
Can I add and delete users? Can I assign different users different levels of authority?
Yes, your designated account administrator may add and delete users and modify settings. Different users can have different authorities. Authorities, or access rights, may be set up for account access and/or transaction functionality (such as ACH, Wires and Reporting). User settings are stored in a user profile that controls the user's capabilities.
What type of bill payments can I make through Salem Five Web Cash Manager?
Salem Five Web Cash Manager enables you to make all your payments via ACH (Automated Clearing House) for direct deposit of payroll, vendor payments and consumer credits and debts. Bill payments can also be made to individuals or business entities, but can take up to 10 business days to reach their destination.
What type of tax payments can I make through Salem Five Web Cash Manager?
Salem Five Web Cash Manager enables you to make most federal and state tax payments with easy-to-use templates.
What type of loan payments can I make through Salem Five Web Cash Manager?
Salem Five Web Cash Manager enables you to make payments to your Salem Five business loan(s).
How long does it take to effect transfers between accounts?
Transfers are immediate. You can view your recent transfer by going to detail account reporting, and viewing the real-time transactions information.
Can I view today's activity through Salem Five Web Cash Manager?
Yes, you can view real-time information on all your deposit accounts, such as incoming wires, ACH or checks paid.
I would like to name my accounts "Payroll Account" and "Operating Account." Am I able to do this?
Yes, you may add or modify account names.
I have already released an ACH batch. Can it be reversed?
Yes, but you must call 978.720.5318 before the ACH cut-off time listed on the disclosure page found under the Customer Support menu option and then have Salem Five cancel the batch.
What are the cut-off times for ACH, Wire, Transfers, Bill Payments or Stop Payments?
View the disclosure page to find out the cut-off times for all of these transactions, under the Customer Support menu option.