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Business Profile

Bank

Salem Five Bank

Headquarters

This business is NOT BBB Accredited.

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Reviews

This profile includes reviews for Salem Five Bank's headquarters and its corporate-owned locations. To view all corporate locations, see

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Salem Five Bank has 38 locations, listed below.

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    Customer Review Ratings

    1

    Average of 3 Customer Reviews

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    Review Details

    • Nancy P

      Date: 03/21/2024

      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. Can a bank do this? To clarify: I've never bounced a check, never did anything wrong. This is all over an out of state check that they claimed to be checking on to protect me. I have never seen anything like this in my life. It is terrifying that a bank has the power to hijack a person's money.

    • MARY K

      Date: 01/15/2024

      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 no activity for three years was sent to unclaimed properties. They said it was all part of a computer algorithm and they had nothing to do with it at the branch. The fact that we had an active checking account at the same bank should have told them that this was not an abandoned account. ********************** Five had our correct contact information on file yet failed to warn us that they were taking this action. This is banking malpractice in my mind - reckless disregard for their customers funds. We filed a claim with the state and after several months our money was returned. We are closing our remaining account and moving the funds to another bank. Dont trust your money with them!

    • Ryder M

      Date: 09/13/2023

      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.

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