Deymond Lashley has never set foot in a Salem Five Bank branch — or even the bank’s hometown of Salem, for that matter.
But when the New Yorker started hunting for high-paying online savings accounts, he discovered that Salem Five’s Internet banking division, Salem Five Direct, paid 1.25 percent a year, one of the highest rates in the country. He set up an account and locked in the rate last month.

Comments
Just another bank scam to screw the customer out of as much money as possible w/o regard to fairness. Were is the government regulation protecting those who do not, or choose not to bank on line, for many valid reason not to mention safety of their money. I bet they did not care whether you banked on line when the banks took our tax money to bail them out during the recession.. The bankers and the lawyers caused the world wide recession we are just starting to rise from but very few were held accountable. They now have a new scam to defraud their customers that are also paying for their RD expenses and supporting their brick and mortar image which I am sure enhanses both their brand and marketing abilities. The miserably low interest rate that is offered should apply to all the customers of the bank no matter how they bank. Next we will have banks with call centers in India or China if we dont already !!!!!.
with rates that low who really cares
Fact check. I checked this morning and Salem Five seems to offer the same CD rates on both its regular website and its Salem Five Direct website. And those rates also are available in their Congress Street branch.
My dream is that EVERYONE withdraws their money the same week. They mess with us and it would be great to mess with them for an entire week...not a day, but an entire week. They would not know what to do and Wall Street would go nuts.
If you don't know there are banking call centers in India you ate behind.