Salem Five Open Checking $300 Bonus

This offer is expired and may no longer be available. Check out current offers from Salem Five Bank or all available offers instead.

Salem Five Bank : Open Checking

Bonus Amount
$300
Account Type
Personal Checking
Available In Your Area?
No
Offer Expired On
November 26, 2021
Bonus Requirements
  1. Open a new Open Checking account online using the promo code 2021OCT100.
  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.
Other Details
Hard Credit Pull?
Monthly Fees?
Open Online?
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Salem Five Bank is offering an easy $300 welcome bonus for opening a new Open Checking account. 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 Massachusetts or New Hampshire, we recommend checking this one out!

Keep in mind that if you open the account in-branch, the bonus drops down to $100. So open online unless you absolutely can't!

How To Earn The Bonus

The Salem Five Open Checking promotion requires you to set up direct deposits in order to earn the $300 bonus. Full requirements to receive this bonus are:

  1. Open a new Open Checking account online using the promo code 2021OCT100.
  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 in Massachusetts or New Hampshire, and be at least 18 years old.
  • Must provide reference code 2021OCT100 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.

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.