How can I avoid the monthly fee?

You can avoid the $5 monthly fee by keeping at least $500 in your account or if you’re under the age of 26.

Can I use ATMs for free?

Yes! You can use Salem Five and Allpoint ATMs at no cost, and we don’t charge for other ATMs (the ATM owner may charge a fee).

Does this account earn interest?

No — this account is designed for simple, everyday banking.

Is this a good starter account?

Yes — it’s a great option for students or anyone looking for a simple, low-cost checkless checking account.

What if I need an account with check writing functionality?

If you need to write checks, check out the Classic Five Checking or the Club Five Checking accounts – both allow for check writing.

Connect Five Digital Checking

Simple, digital-forward banking with fewer fees to help you manage spending, prevent overdrafts, and build better financial habits over time.

Open Connect Five

Group of people gathering together and sharing a meal, representing the connections, resources, and personalized guidance available through Connect Five.

Two people sitting at an outdoor café table enjoying refreshments and conversation.

Checking with Fewer Fees and Fewer Surprises

A digitally-oriented, checkless account, perfect for teens, young adults or those starting out on their financial journey and looking to manage their spending. Connect Five makes it easy to avoid fees¹ and has safeguards in place to help you be more fiscally responsible.

No monthly maintenance fee¹ if under 26 years old, or by maintaining a $500 minimum balance
Free ATM use at Salem Five ATMs and 55,000+ Allpoint^® ATMs
No Salem Five fees at other banks' ATMs (third-party fees may apply)
Optional Debit Card Roundup feature to automatically save money
No overdraft fees*
Free online & mobile banking

*Transactions will be declined for insufficient funds.

Connect Five Account™ Benefits

Support better financial habits with automatic savings designed to help you manage your money responsibly.

Opt in to Debit Card Round Up and your purchases are rounded up to the nearest whole dollar. This balance is transferred automatically to a companion savings account to gradually build up your savings in an effortless way.

Enroll when you open your account in-branch or online.

Graphic promoting Salem Five's Debit Card Round Up feature, which automatically rounds up debit card purchases and transfers the difference to savings.

Pair Connect Five with a Savings Account

Build a strong financial profile when you connect your Salem Five checking to a savings account. It’s easy to open both at the same time!

Open Both Online Now

FAQs: Connect Five Account™

How can I avoid the monthly fee?

You can avoid the $5 monthly fee by keeping at least $500 in your account or if you’re under the age of 26.
Can I use ATMs for free?

Yes! You can use Salem Five and Allpoint ATMs at no cost, and we don’t charge for other ATMs (the ATM owner may charge a fee).
Does this account earn interest?

No — this account is designed for simple, everyday banking.
Is this a good starter account?

Yes — it’s a great option for students or anyone looking for a simple, low-cost checkless checking account.
What if I need an account with check writing functionality?

If you need to write checks, check out the Classic Five Checking or the Club Five Checking accounts – both allow for check writing.

What to expect when applying online

1

Choose your checking option

Let’s find the right fit

2

Apply online or visit a branch

Apply online now

3

Download the mobile app

Find a Salem Five Branch

Helpful Resources

Financial Insights

Salem Five’s Education Center provides insights and tips to help you along your financial journey.

Investing Basics for Teens

Digital (or Virtual) Credit Cards

Buying vs Renting a Home

View All Topics

Smart Planning

Build smart money habits - plan your spending, grow your savings, and reach your goals.

Savings Calculators

Budget Calculators

Debt Calculators

Try All Calculators

Learn About Family Finances

Explore articles on budgeting, saving, retirement planning, and other family finance topics in our Education Center.

Becoming Financially Independent

Savings vs. Money Market Accounts

Types of Savings Goals

View Family Finance Articles

¹A monthly maintenance fee will be imposed each month the balance in the account falls below $500 any day of the month or statement period. The monthly maintenance fee will be waived if the primary account owner is under the age of 26. Minimum opening deposit is $10 for the Connect Five account.

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Personal Banking

Mortgages

Loans

Digital Banking

Business Banking

Lending

Cash Management

Commercial Banking

Lending

Treasury Management

Connect Five Account™