Our All-in-One Checking Account with Rewards
The Open Account - our ONLY checking account
Why do we only have ONE checking account? Because it’s really all you need. It’s even better than “free” checking at other institutions.
The Open Account is big on rewards, small on fees. No monthly maintenance fee – to be exact. You can enjoy the latest in banking technologies, get support from local experts and get rewarded for your everyday purchases. The rewards get even better when you maintain higher balances. The benefits start great and get even better. You can even add an optional savings account.
Consumer Fee Schedule
Ready to open your Salem Five checking account and start using your digital debit card?
Allpoint ATMs worldwide
years of service
With the Open checking account, you automatically get a number of benefits. See how the perks stack up:
5 cents for every debit card purchase (online or in-person)
No Monthly Maintenance Fees
No Minimum Balance
No ATM Fees
At 55K+ Allpoint ATMs and all Salem Five ATMs
And, more rewards available for keeping higher average monthly balances
- Maintain an average monthly balance between $3,000-$4,999 and receive up to $7.50 in ATM fee reimbursements when other banks charge you.
- Maintain an average monthly balance of $5,000 or more and receive UNLIMITED ATM fee reimbursements when other banks charge you.
Pair the account with a companion Open Savings account and enjoy no minimum balance or monthly maintenance fee for this account, too!
Online tools and on-the-go features
Deposit checks from anywhere
Securely deposit checks from your phone.
Lock/Unlock your debit card
Control your debit card, set limits and lock/unlock from your phone.
Send money to anyone
Pay friends and family easily on the go with Zelle®.
Budget and track spending
Budget, set alerts and view your accounts from other banks in Salem Five online banking.
Convenient and secure
Touch and Face ID technology to keep you secure on the go.
Custom text alerts
Get convenient customizable account updates sent directly to your phone or email.
Minimum opening deposit is $10 for the Open Account and $10 for the companion Open Savings account. Open Savings rate is variable and subject to change after account opening.