Reporting

• Simple, intuitive navigation
• Customizable dashboard to meet your specific needs
• Real-time balance and transaction reporting
• 2 years of account history available
• Mobile app allows you to perform most tasks from your mobile device

eStatements

Secure access to your account statements

We’ve made it easy and convenient for you to view your electronic account statements and notices online or via our Mobile Banking App. Once you enroll, you’ll get notified via email when your account statement is available online. And you can view up to seven years of statement history. If you want a “hard” copy, the statements are easy to print at home. With enrollment, you can also gain easy online access to annual tax documents for handy reference..

Account Transfers

Transfer funds between your accounts.

• Transfer between your Salem Five business accounts
• Transfer funds to make a payment to your Salem Five business loan

Zero Balance

Automatically consolidate funds from multiple deposit accounts at the end of each banking day with our Zero Balance service.

• Maximize the use of excess funds - increase interest income or minimize interest expense
• Eliminate the need to manually transfer funds between accounts to prevent overdrafts

Alerts

Smart management of your account activity.

Set up alerts to receive notifications via email or text. Select from a variety of alerts on the system to notify you when an action is required or has been completed.

Automated Sweep Services

Automated Sweep services automatically maximize the use of excess funds regardless of cash flow fluctuations, helping you to maximize interest income or minimize interest expense and preventing deposit overdrafts.

• Automated Investment Sweep: At the end of the banking day, all excess funds above a pre-set target will be invested in a Repurchase Agreement. Invested balances are fully backed by U.S. Government Agency securities.
• Automated Loan Sweep: At the end of the banking day, all excess funds above a pre-set target will be paid to your line of credit as a principal-only payment. If your deposit account needs additional funds to meet the target, an advance to the line of credit will move the required funds to the deposit account.

User Management

Keep your account protected.

Manage your company's users:

• Set up, deactivate, or delete users
• Assign access to specific services and accounts by user
• Manage user level payments permissions

ACH

Automated Clearing House Payments

Originate electronic transactions for collections and disbursements via Commercial Online Banking through the Automated Clearing House network to another U.S. bank.

• Pay individuals or businesses
• Debit receivables directly from your customers’ accounts
• Reduce risk of fraud
• Ensure timely payment
• Control timing of debits to your accounts

Lockbox

Have deposits come to you

Streamline and expedite the processing of incoming remittances with Lockbox.

• Your customers mail payments to a post office box; Salem Five representatives pick up the mail and process all payments
• Lower internal processing costs
• Speed up collections

Wire Transfer

Wire transfer services to move money quickly.

Submit Wire Transfer instructions to Salem Five via the Corporate Online Banking system.

• Send domestic, international USD, and foreign currency wires from your office
• Save Wire Transfer instructions for payees you will pay again in the future
• Multiple levels of authentication ensure that your online payments activity is safe and secure

Merchant Services

The tools and expertise you need as a merchant.

Salem Five has partnered with Clover to offer you the tools you need to grow your business.

• State-of-the-art POS (Point of Sale) systems
• Accept credit, debit, and gift cards, chip cards, and digital wallets.
• Inventory and staff management functionality available.
• PCI compliant to minimize the risk of credit card fraud to provide you and your customers peace of mind

Remote Deposit Capture

Deposit your checks from your PC

Make deposits with any number of checks to your business deposit accounts electronically when it is convenient for you.

• Eliminate trips to the bank to make deposits
• Later cut-off time for same-day credit
• Maintain electronic access to check images

Corporate Card

Give your business credit.

Salem Five partners with Elan to offer a variety of commercial Visa credit cards. Establishing a Corporate Card for your business will help you:

• Control your travel expenses
• Eliminate cash advances and separate expense accounts
• Separate business and personal expenses

Positive Pay

Help deter check fraud and protect your business.

Today, businesses are being targeted by fraudsters at an unprecedented rate. It is critical that you protect your company’s funds from any unauthorized check or ACH electronic debits. At Salem Five, we have the services to assist you in protecting your accounts.

• Check Positive Pay reduces your potential exposure to check fraud by comparing in-clearing checks to issue information that you have uploaded on Corporate Online Banking.
• ACH Positive Pay reduces your potential exposure to ACH Debit fraud by letting you review incoming ACH debits that do not match preset filters that you define.

Real-time Alerts

Stay on top of your account activity

Keeping tabs on your account activity is just plain smart financial management. And, it's easy, when you set-up real-time alerts.  Customize your alert delivery options and receive alerts by email, text and/or mobile push notifications.  Choose from dozens of alerts and know instantly when a transaction occurs.

Stop Payments

Stop a check payment mid-stream.

Initiate Stop Payment instructions directly on Corporate Online Banking.

• Confirm that the check has not already cleared
• Stop Payments are effective for 6 months.

Security

Protect your accounts and protect your business.

Helping you keep your accounts safe is of the utmost importance to us. In addition to services like Positive Pay and features such as Alerts and Stop Payments, we have a Security Center where you can find tips and resources on preventing fraud as well as specific steps to follow if you experience fraud.