Salem five direct adds high-yield savings to its online banking products.
| Position | Marketing News - Brief article |
A Salem Five Direct high-yield savings account just for online banking customers is an example of the new products that banks are creating for the growing online banking segment. Salem Five Direct is the online banking division of Salem Five Bank (assets: $2.8 billion), Salem, Mass.
The name of the new account is eOneSavings. With this account, direct banking customers can earn money market rates regardless of the balance. Customers can transfer money between their online checking and savings accounts.
The bank also added a cash-back rewards program to its online checking account...
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