Consumer Banking Fee Schedule
This Consumer Banking Fee Schedule is part of your Consumer Banking Services Agreement. It contains the monthly fees, transaction fees, minimum balance requirements, and other fees that may apply to your consumer account at Salem Five.
Find account features
-
CHECKING ACCOUNTS
Feature The Open AccountTM 18/65 Checking 1
Without Interest18/65 Checking
With InterestMinimum Balance to Open $10 $10 $10 Monthly Maintenance Fee None None None Charge per Check Paid No Charge No Charge No Charge Online Banking with Bill Pay No Charge No Charge No Charge Banking through Quicken® No Charge $7.50 $7.50 Open Rewards:
PRIMEOpen Rewards:
PRIME PLUSOpen Rewards:
PREMIER18/65 Checking 1
Without Interest18/65 Checking
With InterestAverage Monthly Balance2 < $1,999.99 $2,000.00 -
$3,999.99$4,000.00+ None None Cash Back Debit Rewards 2 $.05/chip, swipe or sign $.10/chip, swipe or sign $.15/chip, swipe or sign None None Salem Five charges
for ATM transactions
at non-Salem Five ATMs 3No Charge No Charge No Charge No Charge No Charge Reimbursement for Surcharges
for ATM Transactions
at non-Salem Five
ATMs 2,3None Up to $7.50 All surcharges
reimbursedNo Charge No Charge
1 Customers who are at least 65 years old or less than 19 years old are limited to one free savings and one free checking account per customer. NSF and uncollected funds fees are reduced to $5 per item. 2 Your Cash Back Debit Rewards (“Open Rewards”) and ATM Surcharge Reimbursements will be calculated based on the average monthly balance in your Open Account, as of the current statement cycle date for the statement cycle period. This date can be found on the top right hand corner of page one of your monthly statements, under the heading “Statement Ending.” 3 If you initiate a transaction at an ATM not operated by Salem Five, a surcharge may be applied by that operator and/or by an automated transfer network. For Open Rewards: Premier, all surcharges will be reimbursed each statement cycle. For Open Rewards: Prime Plus, surcharges will be reimbursed up to $7.50 each statement -
SAVINGS ACCOUNTS
Features Open Savings4 Statement Savings4 Gold Star Saver4 18/65 Savings5 Monthly Maintenance Fee None $3.00 None None Minimum Daily Balance
to Waive Monthly FeeNone $300.00 None None Excess Debit Fee $10.00 $10.00 $10.00 $10.00 Salem Five fees for ATM
transactions at non-Salem Five
ATMs6$2.00 $2.00 $2.00 $2.00 Conditions The Open Account
RequiredNone Must be under 18 years of age Must be 65 years old or less than 19 years old
4 A savings account is a limited transaction account that permits up to six pre-authorized, automatic or telephone transfers per calendar month to third parties or between deposit accounts within the Bank. Debits in excess of these limitations are assessed the excess debit fee. 5 Customers who are at least 65 years old or less than 19 years old are limited to one free savings and one free checking account per customer. Insufficient Funds (NSF) and uncollected funds fees are reduced to $5 per item. 6 If you initiate a transaction at an ATM not operated by Salem Five, you may also be charged a surcharge by that operator and/or by an automated transfer network. -
MONEY MARKET ACCOUNTS
Features Star
Money Market7Gold Star
Money Market7Advantage
Money Market7Monthly Maintenance Fee None None $15.00 Minimum Daily Balance
to Waive Monthly FeeNone None $2,500.00 Excess Debit Fee $10.00 $10.00 $10.00 Salem Five fees for ATM
transactions at non-Salem Five
ATMs8$2.00 $2.00 $2.00 Conditions None None None
7 A Money Market account is a limited transaction investment account that permits up to six pre-authorized, automatic or telephone transfers per calendar month. Transfers or withdrawals by check, debit card, or similar order payable to third parties are included in the aggregate limit of pre-authorized transfers. Debits in excess of these limitations are assessed the excess debit fee. Check access is not available for Star Money Market accounts. 8 If you initiate a transaction at an ATM not operated by Salem Five, you may also be charged a surcharge by that operator and/or by an automated transfer network.
Find special services and account related fees
-
Checking and Savings
Checking and Savings Account Related Fees Amount Checks and all other debits presented against insufficient or uncollected funds (NSF)9 $5.00/$35.00 Overdraft Protection Annual Fee $25.00 Overdraft Deposit Sweep (OD Deposit Sweep), per item
$3.00 Returned Deposited/Cashed Item10 $7.23/$7.50 Stop Payment Order $30.00 Copy of Check, Statement or Deposit Slip11 $5.00 Lost Passbook Fee $20.00 Check Printing and Supplies Fees Vary Account Closing By Mail $10.00 Inactivity Fee12 $5.00 Paper Statement Fee13
$2.95 9 This per item fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals, and other electronic means (as applicable), whether the item is paid at our discretion or returned unpaid. For accounts flagged as 18/65, the $35 per item fee is reduced to $5 per item. The first five (5) NSF items paid per day will be charged the fee as an NSF Paid Item Fee, whereas any NSF items returned unpaid will be charged an NSF Returned Item Fee. Should a transaction overdraw your account in the amount of $5.00 or less, your account will not be charged.
10 As established from time to time by the Commissioner of Banks. If the item returned is drawn on an account held by the Salem Five account holder at another bank, the fee assessed is
$7.50.11 Per statement, deposit slip or check (first 25 checks requested annually per account are free after which the per item charge applies).
12 The inactivity fee will be imposed on checking accounts if the average daily balance is below $250.00 and the account has been inactive for the preceding 12 months.
13 If your account requires eStatements, Salem Five may assess this fee if you fail to register for, or at any time you discontinue, receiving eStatements.
14 Additional charges may be assessed by intermediary bank(s). These charges will be deducted from the check or wire transfer proceeds.
-
Electronic Banking
Electronic Banking Fees Amount Withdrawals or Inquiries at Salem Five ATM locations No Charge Withdrawals or Inquiries at Non-Salem Five ATM locations
$2.00 Point of Sale Transaction
No Charge ATM/Visa® Debit Card Replacement $10.00 External Fund Transfer Debit No Charge Expedited Electronic Payment $9.95 Expedited Payment by Overnight Check $16.00 Zelle® Instant Transfer No Charge -
Health Savings
Health Savings Accounts Amount HSA Set-up Fee $25.00 Monthly Maintenance Fee
$2.50 -
Retirement Accounts
Retirement Accounts Amount IRA Annual Service Fee $15.00 Qualified Plan Annual Service Fee
$25.00 Distribution/Termination Fee (Under Age 59½)
$25.00 Trustee Transfer Fee
$25.00 -
Miscellaneous
Miscellaneous Fees Amount Money Order $3.00 Treasurers Check
$5.00 Foreign Check Collections - Canadian Items14
$15.00 Foreign Check Collections - All Other Items14
$30.00 9 This per item fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals, and other electronic means (as applicable), whether the item is paid at our discretion or returned unpaid. For accounts flagged as 18/65, the $35 per item fee is reduced to $5 per item. The first five (5) NSF items paid per day will be charged the fee as an NSF Paid Item Fee, whereas any NSF items returned unpaid will be charged an NSF Returned Item Fee. Should a transaction overdraw your account in the amount of $5.00 or less, your account will not be charged.
10 As established from time to time by the Commissioner of Banks. If the item returned is drawn on an account held by the Salem Five account holder at another bank, the fee assessed is
$7.50.11 Per statement, deposit slip or check (first 25 checks requested annually per account are free after which the per item charge applies).
12 The inactivity fee will be imposed on checking accounts if the average daily balance is below $250.00 and the account has been inactive for the preceding 12 months.
13 If your account requires eStatements, Salem Five may assess this fee if you fail to register for, or at any time you discontinue, receiving eStatements.
14 Additional charges may be assessed by intermediary bank(s). These charges will be deducted from the check or wire transfer proceeds.
-
General Account
General Account Related Fees Amount Account Reconciliation (per hour) $25.00 Account Research (per hour)
$25.00 Incoming Wire Transfers12
$15.00 Outgoing Wire Transfer - Domestic12
$25.00 Outgoing Wire Transfer - Foreign (in US Currency)12
$40.00 Outgoing Wire Transfer - Foreign (in Foreign Currency)12
$30.00 Escheat Processing (Abandoned Property)
$50.00 Legal Processing - Government Levy
$50.00 Legal Processing - Trustee Attachment or Other Legal Service
$50.00 9 This per item fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals, and other electronic means (as applicable), whether the item is paid at our discretion or returned unpaid. For accounts flagged as 18/65, the $35 per item fee is reduced to $5 per item. The first five (5) NSF items paid per day will be charged the fee as an NSF Paid Item Fee, whereas any NSF items returned unpaid will be charged an NSF Returned Item Fee. Should a transaction overdraw your account in the amount of $5.00 or less, your account will not be charged.
10 As established from time to time by the Commissioner of Banks. If the item returned is drawn on an account held by the Salem Five account holder at another bank, the fee assessed is
$7.50.11 Per statement, deposit slip or check (first 25 checks requested annually per account are free after which the per item charge applies).
12 The inactivity fee will be imposed on checking accounts if the average daily balance is below $250.00 and the account has been inactive for the preceding 12 months.
13 If your account requires eStatements, Salem Five may assess this fee if you fail to register for, or at any time you discontinue, receiving eStatements.
14 Additional charges may be assessed by intermediary bank(s). These charges will be deducted from the check or wire transfer proceeds.
-
Foreign Currency Exchange
Foreign Currency Exchange Amount Exchange Fee $5.00 Small order fee if less than $500 USD
$10.00 Next day delivery before 11:00 AM (M-F only)
$10.00