With the Open checking account, you automatically get a number of benefits. See how the perks stack up:

Cash Back

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.



*To qualify for the $250 offer, the Open Account must be opened between 2/28/22 – 5/23/22 and have a cumulative direct deposit of $2,000 or more made within 90 days of account opening. Direct deposit is reoccurring income electronically deposited into your checking account for purposes such as payroll, pension, or government benefits. Person-to-Person payments, payments through third parties such as PayPal, and bank transfers between accounts, do not qualify as a direct deposit. You must deposit at least $10 to open this account. The one-time bonus offer will be deposited into the new account within 60 days of meeting the offer criteria. The account must be open with a positive balance to receive the bonus offer. Only one offer per customer and one per household. Household is defined by address. Bonus qualifiers are subject to change and bonus payout is reviewed by, and at the discretion of, the Bank. Customer must meet the following criteria to be eligible for the offer:  1.) Must be a new checking customer and could not have a Salem Five personal checking account within the prior twenty-four months. 2.) Must reside in Massachusetts counties of: Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, Worcester. 3.) Must be at least 18 years of age. 4.) Must provide reference code 2022MAR250 to branch employee if opening the account in branch. Promotional offer for an account opened online will only be available through this web page and link or by using the reference code 2022MAR250 in promo field. 5.) Must not be employed by Salem Five.