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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 |
Normally I have a great experience with regular banking, fantastic tellers always positive experience with customer care reps on the phone. I feel the need to warn consumers about unfair banking practices in regards to communication and price gauging. I had Salem Five Boyle Insurance as my agent for home insurance, I received a this is not a bill from Hanover Insurance and my agent would be sending me a bill. In hindsight I should have paid the this is not a bill because I never received a bill from my agent. Next thing I kn... read more
I opened a savings account online with SalemFive. Maybe I did not read the rules closely but found out when I needed to transfer the funds for house purchase, they do not support wire transfers, they limit external bank transfers to $5000 per week and $10000 per month. I requested they close my account since I can't get the funds I need. It has been almost 2 weeks from request and they still have not closed. I have to wait for them to send a check - who in the banking industry has to send checks? They are way behind the curv... read more
We had a very bad experience with this bank. We went to open a few CDs. It took over an hour. They made mistakes (later corrected) on the deposit ticket. They did not disclose the very high early withdrawal fees until they had been there for over an hour. They promised statements, initially monthly, then quarterly, only to later tell us that they do not provide statements. Stay away.
This is a negative review regarding my banking experience with SALEM FIVE CENTS SAVINGS Bank operating online at ************************* For certain customers, the bank decided to require additional One Time Security Code verification for each login. However, this Verification by phone never succeeds. Their phone system deliberately rejects correct verification to discourage customers from logging into their accounts. The bank naturally claims that all fault is with customers, or that they are idiots and don't know how to ... 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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