Salem Five Open Checking $250 Bonus

Salem Five Bank logo

Salem Five Bank : Open Checking

$250

Offer Expired On

May 23, 2022

How To Earn The Bonus

  1. Open a new Open Checking account online using the promo code 2022MAR250.
  2. Within 90 days, receive direct deposits totaling $2,000.
  3. The bonus will be credited to your account within 60 days of meeting the requirements.

Available in Your Area?

No

Monthly Fees?

No

Open Online?

Yes

Credit Pull?

Hard

Salem Five Bank logo

Salem Five Bank is offering an easy $250 welcome bonus for opening a new Open Checking account. This amount is slightly lower than when it was offered in Q4 of last year. The terms require direct deposits totaling $2,000 or more, but you have 90 days to hit that total, and it can be in a single direct deposit or multiple smaller deposits. If you're in select Massachusetts counties, we recommend checking this one out!

How To Earn The Bonus

The Salem Five Open Checking promotion requires you to set up direct deposits in order to earn the $250 bonus.

Full requirements to receive this bonus are:

  1. Open a new Open Checking account online using the promo code 2022MAR250.
  2. Within 90 days, receive direct deposits totaling $2,000.
  3. The bonus will be credited to your account within 60 days of meeting the requirements.

The fine print

  • Direct deposit is reoccurring income electronically deposited into your checking account for purposes such as payroll, pension, or government benefits. Person-to-Person payments, payments through third parties such as PayPal, and bank transfers between accounts, do not qualify as a direct deposit.
  • You must deposit at least $10 to open this account.
  • The account must be open with a positive balance to receive the $300 offer.
  • Only one offer per customer and one per household. Household is defined by address.
  • Must be a new checking customer and could not have a Salem Five personal checking account within the prior six months.
  • Must reside Must reside in Massachusetts counties of: Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, Worcester, and be at least 18 years old.
  • Must provide reference code 2022MAR250 to branch employee if opening the account in branch.
  • Promotional offer for an account opened online will only be available through the bonus's landing page.

How does this checking offer from Salem Five compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

Citi

Citi Priority Account

Bonus
up to $1500
Account Type
Personal Checking
Expires In
50 days
Requires
  • Min Balance

Fifth Third Bank

Personal Checking

Bonus
$350
Account Type
Personal Checking
Expires In
125 days
Requires
  • Direct Deposit

Chase

Chase Total Checking®

Bonus
$200
Account Type
Personal Checking
Expires In
53 days
Requires
  • Direct Deposit

Why Salem Five Bank?

Open Checking

The Open Checking account from Salem Five Bank is a personal checking account that has no monthly fee, no minimum balance, and offers cash back rewards on your debit card purchases.

The reward rates are tiered based on your deposit balance, from $0.05 to $0.15, and sweeps directly into your linked savings account.

Fees

Open Checking does not charge a monthly fee.