Customers at Salem Five Bank receive automatic cash rewards every time they use their Salem Five Debit card to make a purchase through the new Salem Five Cash-Back Debit Rewards program.
For each debit card transaction, the Massachusetts-based financial institution awards customers a percentage of their monthly debit card purchases. The percentage paid is doubled for signature-based transactions when the customer chooses “credit” at the point of sale. The cash rewards appear automatically on customers’ monthly statements.
The Salem Five Cash-Back Debit Rewards program requires either a Star Checking or Gold Star Checking account. New accounts and existing Star Checking and Gold Star Checking customers are automatically enrolled.
In addition to the new Salem Five Cash-Back Debit Rewards program, the Bank has greatly enhanced its ATM Reimbursement offering. Through the Bank’s new Unlimited ATM Reimbursement program, customers can use any ATM in the world and Salem Five will reimburse the fees charged by the bank that owns the ATM. There is no limit to the amount or the number of ATM reimbursements. Through this enhancement, Salem Five has removed reimbursement caps to provide unlimited ATM reimbursements to Star Checking and Gold Star Checking customers.
“Innovation and convenience continue to lead the way for our growth and product development,” said Joseph M. Gibbons, President and Chief Executive Officer for Salem Five. “The Salem Five Star Checking and Gold Star Checking accounts are like no other checking accounts. The combination of Cash-Back Debit Rewards, Unlimited ATM Reimbursement and free Online Bill Payment make these checking products the best value in the marketplace.”
Mr. Gibbons commented, “Our customers let us know what they want in a checking account and these two new programs deliver on those needs. With Cash-Back Debit Rewards we are rewarding our customers for something that they already do – making purchases. Unlimited ATM Reimbursement allows customers to use any ATM without having to pay a fee. Providing convenience to our customers is a part of ensuring an exceptional banking experience at Salem Five.”
To learn more about Salem Five Cash-Back Debit Rewards and Unlimited ATM Reimbursement programs visit www.salemfive.com or call 1-800-4SALEM5.
Founded in 1855, Salem Five operates 17 branches in Salem, Beverly, Boston, Danvers, Hamilton/Wenham, Lynn, Malden, Marblehead, Middleton, North Andover, Peabody, Saugus, and Swampscott, Massachusetts. With $2.4 billion in assets, Salem Five is the third largest savings Bank headquartered in Massachusetts. Salem Five provides customers with a full range of retail and commercial banking products and services. In addition, Salem Five operates Salem Five Mortgage Corporation, LLC, a mortgage banking company with offices in Massachusetts, Maine, New Hampshire, and Rhode Island. Salem Five Mortgage Corporation services $1.5 billion in loans for investors and is the largest Fannie Mae Seller/Servicer headquartered in Massachusetts. Salem Five Investment Services, LLC offers stocks and bonds, mutual funds, asset management accounts, annuities, domestic and foreign securities, as well as financial and retirement planning, portfolio review and professional money management services. Salem Five Boyle Insurance, LLC offers a complete line of personal and commercial insurance services.
