Salem Five Bank is offering a $50 or $100 banking bonus when you open a Star Checking, Gold Star Checking, or eOne Checking account (plus eOne Savings) and complete qualifying activities with your new Salem Five checking account.
Salem Five Bank branches are located through Massachusetts, and you can open your account online or in-branch to qualify for this offer.
Salem Five Bank $50 Checking Account Promotion
To qualify for a $50 bonus, you must first complete this Salem Five $50 Registration Form before you open your new checking account and complete the qualifying activities.
After you register, you must open a new Star, Gold Star, or eOne Checking account and complete 1 of the following 3 options within 60 days:
1. Complete 2 direct deposit transactions over $250 each.
2. Complete 6 online bill pays over $25 each.
3. Complete 20 debit transactions over $5 each.
After you have registered and qualified your account, you will receive a $50 Visa Reward Card within 60 days of meeting 1 of the above requirements.
- You must be a new customer to Salem Five Bank.
- You must open a new Salem Five Star, Gold Star, or eOne Checking account as a primary owner.
- Multiple bill pays to the same payee or to an individual are ineligible.
- A direct deposit is an electronic credit such as payroll, annuities, government benefit deposits, bonuses, travel reimbursements, or other types of deposit payments from a company into a checking or savings account of an employee, retiree, taxpayer, or shareholder.
- This offer is limited to consumer accounts only.
- There is a limit of 1 incentive per new account opened.
- Non-US residents and individuals under 18 years of age are not eligible.
Salem Five Bank $100 Checking Account Bonus
You can also complete this Salem Five $100 Registration Form to get a $100 bonus instead of only $50 with the same requirements to qualify your checking account.
However, the fine print for the $100 offer does indicate that you must open a new Star, Gold Star, or eOne Checking AND eOne Savings combo account as a primary owner.
So if you open a Star Checking or Gold Star Checking account, then you can qualify for the $100 bonus instead of the $50 bonus, but if you want to open an eOne Checking account and qualify for the $100 bonus instead of $50, then you must also open an eOne Savings combo account with your eOne Checking account.
Basically, if you plan on opening a Star Checking or Gold Star Checking account, then the $100 deal is obviously the better offer, but if you plan on opening an eOne Checking account, then you have to decide if also getting the eOne Savings account is worth the extra $50 bonus for you.
Salem Five Bank Checking Account Fees
The minimum balance to open a personal Star Checking or Gold Star Checking account is $10 in person, and $100 by mail or online.
The eOne Checking account can only be opened online with a minimum $100 balance.
Star Checking Account: Monthly maintenance fee waived with payroll direct deposit, $1,500 minimum daily balance, automatic transfer to a Salem Five Mortgage, or a combined deposit/loan balance of $5,000 (excluding mortgage loan balances).
Gold Star Checking Account: Monthly maintenance fee waived with a $5,000 minimum daily balance or a combined deposit balance/outstanding loan balance of $20,000 (excluding mortgage loan balances). The monthly maintenance fee will also be waived if you have an original consumer mortgage balance of $500,000 or more (excludes reverse, sold and service released, and commercial mortgage balances) or if you have an investment account with Salem Five Financial.
eOne Checking Account: No monthly maintenance fee and no minimum balance requirement. The eOne Checking account is not available at Salem Five branch locations and must be opened online only.
Salem Five Bank ReferFive Promotion
The Salem Five Bank ReferFive promotion offers up to $250 per year when you refer new customers to open a Salem Five Bank Checking account, plus your referrals earn a $50 Visa Gift Card as well.
The ReferFive program provides both current customers and new customers a $50 bonus for Salem Five Bank referrals.
If you are a current Salem Five Bank customer, please feel free to leave a comment below this article containing your contact information if you would like to provide potential new customers with a Salem Five Bank referral, so that you can both benefit.
Check out the Salem Five Bank ReferFive Program to earn up to $250 per year for referring new customers or $50 for opening a new account through a Salem Five Bank customer referral.
Once a person you referred has opened a new Star Checking, Gold Star Checking, or eOne Checking account with qualifying activity, you will each receive a $50 Visa Gift Card.
The people you refer will receive an email containing registration instructions and requirements of the program.
To receive this offer, those being referred must be new customers to Salem Five.
ReferFive Program Details
ReferFive is available in any Salem Five office and for accounts opened online or by mail.
By submitting a referral, you agree that Salem Five may inform the person you refer that you are an existing customer for the purposes of contacting them about ReferFive.
To receive this offer, those being referred must be new customers to Salem Five and open a new Salem Five Star Checking, Gold Star Checking, or eOne Checking account as a primary owner.
The newly referred customer must meet 1 of the following transaction criteria within 60 days of account opening:
1. Make 2 direct deposits over $250.
2. Make 6 online bill pays.
3. Make 20 debit card transactions.
If the new customers meets 1 of these requirements, both parties will receive a Visa gift card in the amount of $50.
The referring party must be an existing customer of Salem Five and maintain an account in good standing at the bank until the referred party completes all ReferFive program requirements.
Closing an account prior to that may result in disqualification.
To qualify, the referred party must follow all steps exactly as described and meet all program terms and conditions.
All gift cards will be issued within 60 days of successfully meeting 1 of the transaction criteria listed.
Employees of Salem Five are eligible for this promotion.
This offer is available for consumer accounts only.
There is a limit of 1 incentive per new account opened and 5 $50 gift cards per referring customer per calendar year.
The minimum balance to open a personal Star Checking account is $10 in person, and $100 by mail or online.
Non-U.S. residents and individuals under 18 years of age are not eligible.
This program may be modified or cancelled at any time without notice to either party.
Take advantage of the ReferFive program referral bonuses from Salem Five Bank.