Salem Five Bank Main St, Woburn

I have to agree with all the bad reviews here. I have had a business checking account here since 2012 Was charged $74.00 monthly maintenance fee. REALLY?? I had gotten charged this fee before but never close to this amount. When I questioned this, apparently I was told I had gone over my "transaction limit" for the month. Okay......A little backstory to understand better. Over the course of time since 2012, I have noticed that Salem five never seems to make consumers aware of policy changes/new fees/fee increases. One example would be charges for using ATMs outside their network. That's right. I have to pay their ATM fee and then Salem five charges me ANOTHER fee on top of that!!! That wasn't the case in 2012! I'll bet $74 that out of network ATM use is counted as a "transaction" toward or past the "transaction limit". And I'll bet another $74 they never informed the customers about it! Lol! Do you see what I mean here? The ol' Bait & Switch-a-roo! Anyway.. When asked if they could waive or reduce the $74 fee Liz said no and instead tried to sell me another product. How can I have ANY confidence in your products or services- If you keep changing the rules and denying that you did so/ denying any rectification in the first place?? When I expressed my displeasure and stated that I simply wanted my money back, Liz started walking away. When I followed her, she THREATENED TO CALL THE COPS. Liz didn't like me "raising my voice in front of customers and employees." To which I responded, "If you ran an ethical business you wouldn't be embarrassed in front of your staff and customers. Apparently Salem Five must be in a rut financially. Now give me back the $74 you stole." Liz didn't like that, which prompted a call to law enforcement and further embarrassment. Salem Five is the 21st century version of the mafia- They steal from you and call their legbreakers for protection.

Terrible service. Tellers are untrained, have no knowledge whatsoever. Bank manager never gets back on matters on time. Would never bank with them again. They did not resolve the issue I had, instead turned around and said the teller had miscommunicated a promotion to me and now I was not able to get that. How is that the customers fault??? The way this bank handled it was beyond terrible.

I recently opened accounts with Salem Five at this particular branch. I dealt with Nadia, she was so pleasant, very helpful and made me feel great about switching over my accounts from one bank to Salem Five. 👍👍

Never once in 4 years have I had any experience less than 5 stars, genuine people who care about your satisfaction. No plans on ever taking my banking needs elsewhere 👍🏼

My neighbor recieved 74 dollar service charge for too many transactions. The previous month was 50 dollars. Liz, the manager, was all shoulders. And when he was upset they decided to call the police, because he stated that, that was stealing his money. He left a review but somehow it has vanished. Do not bank here.

The worst bank in the state of Massachusetts they don’t have any respect for your money that you worked hard for it .they move your money from one account to the other without your knowledge or permission . Random bank fees transaction it’s always late deposit um check you have to wait 3 or 4 business day . Example I have a transportation business and I got paid with a Canadian check the amount of 85 dollars when to deposit on SFB ,first of all the teller she didn’t know how to deposit it then she told me I would take a couple days to cash the check almost 2 weeks Went by so I got a 23 dollars credited to my account.long history short they charged me 60 dollars to deposit a check on the amount of $83.00 . Awful bank they don’t take any responsibility on their actions do not open any accounts there

Don’t waste your time applying for a loan here. Total clown show.