Scammers and the Coronavirus
Coronavirus has shown us some of the best and worst in humanity. We have seen medical professionals, truck drivers, and other front line workers step up to the ...
Our secure browser is a convenient gateway to applications provided to our commercial clients. It offers the confidence of layered protection through secure site access, malware prevention and one-time passcodes delivered via text.
Digital Tools Location Status SBA Programs Fraud Alerts FAQs
COVID-19 has brought many challenges to our community. Together, we will get through this difficult time and want you to know that we are here for you.
We are taking all recommended safety precautions to protect our valued customers and employees. As we work to return operations to their full capacity, all updates and important information will be posted below.
Thank you for your patience during this trying time and for continuing to allow us to serve you here at Salem Five.
Our branch lobbies have reopened for service. For current location status and hours, click here.
We do have some new procedures, however, to help ensure continued good health and well-being for both our customers and employees.
If you plan to visit us, please wear a face covering while on bank premises in compliance with the guidance provided by the Commonwealth of Massachusetts.
In accordance with the same guidance, to assure we can maintain a safe distance, there will be an occupancy limit of no more than one customer/party per employee. If the branch you are visiting is at capacity, you may be asked to wait at a safe distance for the next representative to assist you.
Inside each branch, floor markings are present to assist you in continued maintenance of the recommended social distance while awaiting service
If you are elderly or health-compromised and would like to schedule an appointment, please call your local branch.
The SBA announced in late March that is offering payment relief for a six-month period for businesses with a qualified SBA 7a Loan. As such, customers who made a payment for the month April can either have their payment returned or have it applied to the loan’s principle. For more information about this program, please contact your relationship manager. For general information about other SBA programs from Salem Five, click here.
If you are experiencing a hardship, Salem Five’s personal and business banking professionals are ready to assist you. Please call the Salem Five Contact Center at (800) 850-5000 to explore your options.
Please be advised that Salem Five has minimal information regarding these payments. We encourage you to visit IRS.gov and click the "Get Info on Economic Impact Payments" button for details.
Please email our Loan Servicing Team at LoanHelp@SalemFive.com. A Representative will contact you within 1-3 days to discuss your options.
Although our branch lobbies have reopened, utilizing the drive thru to complete transactions is a safer option. Any teller transaction, including: deposits, withdrawals, transfers, cashing checks, money orders and official checks can be completed at the drive-thru. Please be prepared to show a photo ID.
To complete a wire transfer without entering a branch, please call (781) 231-2153 to request that a domestic or foreign wire form be sent to you by email so the process can be expedited when you drop off the completed form at a branch with a drive-thru window during posted banking hours.
Wires must be dropped off by 3:00 PM for same-day processing. A photo ID will be required.
Some banking requests such as checks for deposit, transaction and account maintenance paperwork can be done via mail. Please send any of these requests to:
Salem Five Bank
Attn: Customer Service
210 Essex St.
Salem, MA 01970
If you are elderly or health-compromised you can schedule an appointment during the hour before the branch opens. Please call your local branch to arrange a time that works for you.
You can also process many transactions and maintenance requests via online banking.
Call (800) 850-5000 and select Option 2 for Online Banking.
You can do many of your usual in-branch transactions with online banking and and with Salem Five's mobile app, such as:
For a series of video tutorials and other helpful information, click here. You may also reach us at (800) 850-5000 and select option 2 for Online Banking.
Salem Five urges you to beware of scams and criminals using fear/intimidation, trickery, urgency or disinformation related to the coronavirus to attempt to steal your sensitive, personal or account information. Be aware of strange calls, emails, texts or websites that look like they are coming from legitimate businesses or government agencies asking for information like SSN, usernames/passwords (login info), account numbers, credit or debit card numbers, PINs, etc. Salem Five will never request such information through email/text/outbound calls.
We have received customer reports concerning criminals fraudulently impersonating Salem Five to verify fake transactions in an attempt to gain account access. As a reminder, Salem Five will NEVER call, text, or email you asking for your online banking log-on user ID or Password, the code you receive to get access, or your PIN or the 3-digit security code on the back of your card.
What is a Spoofing Scam?
From the Federal Trade Commission: Scammers are using fake caller ID information to trick you into thinking they are someone local, someone you trust – like a government agency or police department, or a company you do business with – like your bank or cable provider. The practice is called caller ID spoofing.
With bank spoofing scams on the rise, here are just a couple examples of how they may take place.
Scenario 1: You get a call from someone identifying themselves as your bank’s fraud department who wants to confirm a suspicious transaction on your account. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They may send you a text code to read back. Then, you start seeing transactions you didn’t initiate on your account.
Scenario 2: You get a call from someone identifying themselves as your bank and offering you or your business COVID 19 assistance. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They then use this information to open accounts or loans in your name or transact on your existing accounts.
Be careful what you share, and remember:
Salem Five is also here to help! If you believe you have been a victim of a scam, or have provided someone your account or online banking information, contact us immediately at (800) 850-5000.
For more information visit the FTC site here.
Content provided by the Federal Trade Commission: Is a scammer getting unemployment benefits in your name? Click here for details.
In a large-scale scam erupting in the midst of the Coronavirus pandemic, imposters are filing claims for unemployment benefits, using the names and personal information of people who have not filed claims. People learn about the fraud when they get a notice from their state unemployment benefits office or their employer about their supposed application for benefits.
If this happens to you, it means someone is misusing your personal information, including your Social Security number and date of birth. Act fast. Here are steps that can help you protect your finances and your credit:
One other thing: The unemployment payments usually are deposited to accounts the imposters control. But sometimes payments get sent to the real person’s account, instead. If this happens to you, the imposters may call, text, or email to try to get you to send some or all of the money to them. They may pretend to be your state unemployment agency and say the money was sent by mistake. This a money mule scam and participating in one could cause you more difficulties.
If you get benefits you never applied for, report it to your state unemployment agency and ask for instructions. Don’t respond to any calls, emails, or text messages telling you to wire money, send cash, or put money on gift cards. Your state agency will never tell you to repay money that way. Anyone who tells you to do those things is a scammer. Every time.
The Cybersecurity and Infrastructure Security Agency (CISA) issued an alert about an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage through phishing emails which contain a malicious link to a fake page used for re-directs and credential stealing. The phishing email subject line currently reads, “SBA Application - Review and Proceed,” and the sender is marked as “disastercustomerservice@sba[.]gov.” The alert provides information, including recommended mitigations, for small businesses to take to strengthen their cybersecurity posture. Best practices recommended by CISA include, but are not limited to, the items below. System owners and system administrators should review any configuration change prior to implementation to avoid unwanted impacts.
From the Federal Trade Commission: Scammers are using fake caller ID information to trick you into thinking they are someone local, someone you trust – like a government agency or police department, or a company you do business with – like your bank or cable provider. The practice is called caller ID spoofing.
With bank spoofing scams on the rise, here are just a couple examples of how they may take place.
Scenario 1: You get a call from someone identifying themselves as your bank’s fraud department who wants to confirm a suspicious transaction on your account. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They may send you a text code to read back. Then, you start seeing transactions you didn’t initiate on your account.
Scenario 2: You get a call from someone identifying themselves as your bank and offering you or your business COVID 19 assistance. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They then use this information to open accounts or loans in your name or transact on your existing accounts.
Be careful what you share, and remember:
Salem Five is also here to help! If you believe you have been a victim of a scam, or have provided someone your account or online banking information, contact us immediately at (800) 850-5000.
For more information visit the FTC site here.
Select a location to view more information:
Coronavirus has shown us some of the best and worst in humanity. We have seen medical professionals, truck drivers, and other front line workers step up to the ...
Spoofing is where an unknown person disguises communications as a trusted and known source. It is a form of cyberattack that ...