A Checking Account with Rewards

A checking account that is even better than “free” checking. We’re big on rewards, small on fees. Enjoy the latest in banking technologies, get support from local experts and get rewarded for your everyday purchases. 

Open Now

A Move Worth Making | And Now Get $300*

Simply open a checking account by October 31, 2022 and have $2,000 or more in direct deposits post to your new account within 90 days
  • Click "Open Now" buttons to open account online
  • Or, open account in-branch and mention promo code: 2022AUG300
  • The $300 bonus will be deposited into your account within 60 days of meeting the criteria
  • Offer good only for Salem Five non-checking customers who received the targeted direct mail offer
  • 55000

    Allpoint ATMs worldwide

  • 34

    branch locations

  • 160

    years of service

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

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Cash Back

5 cents for every debit card purchase (online or in-person)

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No Monthly Maintenance Fees

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No Minimum Balance

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No ATM Fees

At 55K+ Allpoint ATMs and all Salem Five ATMs

Gift Reward Icon

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!


See how rewarding an account can be.

*To qualify for the $300 offer, the Open Account must be opened between 8/9/2022 and 10/31/2022 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. The bonus offer is nontransferable and restricted to Salem Five non-checking customers who received the targeted direct mail offer. 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 twelve months. 2.) Must reside in Massachusetts. 3.) Must be at least 18 years of age. 4.) Must provide reference code 2022AUG300 to branch employee if opening the account in branch. Promotional offer for an account opened online will only be available through web page noted above. 5.) Must not be employed by Salem Five. Member FDIC.