SALEM, MA, January 28, 2010
/24-7PressRelease/ -- Salem Five Bank announced it has added the convenience of enhanced online account opening to its suite of Internet-based banking services. In addition, customers who open an account and enroll in Salem Five Online Banking will have access to several account management features including Expedited Payments and External Transfers.
Customers can now open one of Salem Five's deposit accounts by completing and submitting the four-step online application. Once the application is verified, approved, and funded, customers can complete the online banking enrollment form to instantly view their Salem Five account.
Salem Five recently launched its Expedited Payments feature to allow its online banking customers to send a last minute payment to almost any payee in the United States. Taking advantage of this service, customers can select either an overnight check or an expedited electronic payment to potentially avoid late fees and protect their credit rating.
In addition, online banking customers can easily move funds electronically between a Salem Five checking or savings account and an account at another financial institution with External Transfers. Customers can also use this online banking tool to schedule one-time or recurring transfers.
"By continuing to enhance our online banking platform with new services and tools, we are able to provide customers with a more convenient and better banking experience," said Jay Spahr, senior vice president, eCommerce, Salem Five Bank. "We are committed to listening to our customers and delivering efficient and easy to use features and technologies that will help meet their banking demands."
Salem Five has also enhanced the capabilities of its free Wireless Mobile Banking service to provide online banking customers with the same level of convenience and features as online banking. Salem Five's Wireless Mobile Banking can be accessed with any Internet-enabled phone, PDA or mobile device, to get account balances, view transaction history, transfer funds and pay bills. The encrypted Mobile Banking service can also be used to find Salem Five locations and ATMs, look up current rates on products, view or cancel pending bill payments, and receive text messages relating to balances and transactions.
Salem Five was the first bank in the region to introduce online banking in 1995.
About Salem Five
Founded in 1855, Salem Five operates 20 branches in Salem, Beverly, Boston, Danvers, Hamilton/Wenham, Lynn, Malden, Marblehead, Middleton, North Andover, Peabody, Reading, Saugus, Sudbury, Swampscott and Woburn, Massachusetts. With $2.9 billion in assets, Salem Five is the third largest private 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 and New Hampshire. 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. http://www.salemfive.com
Media Contacts:
Scott Hanna
Salem Five Bank
(978) 720-5790
scott.hanna@salemfive.com Jason Newberg
The Castle Group
(617) 337-9534
jnewberg@thecastlegrp.com
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