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Salem Five Bank
- Finance
- Salem, MA
About this business
Founded in 1855 and headquartered in Salem, Mass., Salem Five Cents Savings Bank was known as the Nickel Bank because the first day's deposits ranged from five cents and upward. Throughout the Civil War, two World Wars and the Great Depression, Salem Five Cent Savings Bank has offered financial services to the residents of greater Salem and surrounding areas. The bank offers an array of products and services for consumers and small businesses. Through various subsidiaries, such as Salem Five Mortgage, Salem Five Investment S... read more
Location details
210 Essex St., Salem, MA, 01970, United States
Get directions| Weekday | Schedule | Status |
|---|---|---|
| Mon | 8:15 a.m. to 5:00 p.m. | |
| Tue | 8:15 a.m. to 5:00 p.m. | |
| Wed | 8:15 a.m. to 5:00 p.m. | |
| Thu | 8:15 a.m. to 5:00 p.m. | |
| Fri | 8:15 a.m. to 5:00 p.m. | |
| Sat | Closed | |
| Sun | Closed |
I received and deposited an out of state check. I got 2 phone calls...both grilling me over why I deposited an out of state check. I asked if the check was returned they said no. Never heard of that on my life. Then it got worse. I got locked out of my online banking. I called...had to explain the check again. The lady promised to unlock the account. 2 days later it's still locked and they cancelled an auto payment I had scheduled. My account and my money is still locked as I write this. I have emails sent, etc., nothing. Ca... read more
I am the treasurer of a small nonprofit located in ******. For many years we had both a checking and a savings account at ********************** Five. The savings account was money set aside for a future use and there were no transactions in that account for several years. Without informing us, Salem Five sent this money to the states ****************************** After I was notified by the state that they had received this money from Salem Five, I went to the branch and was told that they have a policy that any funds with... read more
Disinterested in customer service, won't provide public notary services for **** background checks unless you have an existing account there, with so many other options, don't bother.
Fees are insane and customer service is not very helpful. Lost my job and ******** my account by 9 dollars; was charged a 35 dollar fee. Deposited money to get back in the positive, but was not able to get the fee reversed or even reduced.When I went to close my account, I was told I needed something notarized; which I cannot even afford until I start my new job. Just lacking compassion plus high fees. Stay away
Do not work with ************************* out of the concord office. She is incredibly disrespectful and rude and if you stand up for yourself she will refuse to work with you and take your name off of paperwork and then lied that she was told to.
Wow, what an absolute mess trying to refinance my mortgage with this bank. Started the process three months ago. Have submitted the same paperwork multiple times. Literally go weeks without any communication. Finally i check in for updates. The typical response to these checkins is that they need more updated information because they have sat on it for so long that the information is outdated. Was reached out to again today asking for paystubs and statements for the forth time and told them i am done. This has been exhaustin... read more
Was looking for a decent high yield online bank, found this bank offering 1.50 rate... 3rd month in, they drop my rate to .30.... called to complain and they're like "oh rate change, sorry" bascilly. I checked other banks and they're offering 1.55% at the highest and 1.00% and i mention that to the rep i talked to and they said we'll bump you to 1.00%, BUT it's a courtesy. I checked Salam Banks sight and see they are advertising for 1.00% and i mentioned that to the Rep and she's like "oh that's for new customers" .. They're... read more
I have online savings account with this bank and found out they severely restrict outbound external fund transfer to $5,000 a day. That is unheard of at least based on my experience. Please be warned to use this bank, your money back can be painefully slow, especially if you need funds in a hurry. They designed this to make sure you cannot get your money back easily in the name of protecting you.
BEAWARE!! It’s illegal for a bank to make false or misleading statements about a product or a service or withhold any information about it in an attempt to make you to do what they want postfactum, it’s illegal for a bank to withdraw money from the customers account without any customer’s permission, it’s illegal to harrass customers, it’s illegal to create billion everyday reasons and excuses to not return back and to hold in SalemFiveDirect against customers’s will for over 26 days money that were taken by SalemFiveDirect ... read more
Frequently asked questions about Salem Five Bank
How is Salem Five Bank rated?
Salem Five Bank has a 1 star rating with 16 reviews.
When is Salem Five Bank open?
Salem Five Bank is open now. It will close at 5:00 p.m.
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