Fifth Third Bank
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About Fifth Third Bank
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Fifth Third Bank is a regional bank headquartered in Cincinnati, Ohio. It offers a full line-up of financial products, including checking and savings accounts, certificates of deposit (CDs), ABLE (Achieving a Better Life Experience) accounts, 529 college savings plans, health savings accounts (HSAs), loans and more. While its promotional CDs have competitive rates, the rest of its savings accounts have less-than-ideal yields.
Pros & Cons
- Large ATM network
- No-fee checking account
- Promotional CDs have competitive rates
- HSAs, ABLE and 529 savings accounts available
- Only available in 11 states
- Some monthly fees
- Low interest rates on most deposit accounts
- $5,000 minimum deposit for promotional CDs
Fifth Third Bank has a mix of no-fee and low-fee accounts. While its interest rates aren’t as competitive as most online banks, it has branch locations across the Midwest and South and most accounts can be opened online.
Top Fifth Third Bank Reviews
They are always courteous and helpful either in person or when I call with a question. Someone typically greets me upon entering the bank and the wait is never too long when compl...Read full review
I Have had mortgages and loans with FifthThird, along with several other accounts. Service has been great. Have never encountered a negative person. They are always ready to help ...Read full review
What is Fifth Third Bank?
Fifth Third Bank operates over 1,000 branches across the Midwest and South. It offers a variety of financial services to individuals, businesses and commercial entities.
One of its best accounts is its Momentum Checking account, which features early paydays, cash advances and tools to help you avoid overdrafts. Fifth Third is also known for having specialized accounts, including ABLE accounts, 529 college savings plans and HSAs. It was the first U.S. bank to launch a charitable foundation back in 1948.
Fifth Third Bank serves residents in these 11 states:
- North Carolina
- South Carolina
- West Virginia
How does Fifth Third Bank work?
You can open a Fifth Third Bank account online, by phone or in person. Opening an account typically requires providing personal information such as your name, address and Social Security number.
Once your account is open, you can manage it through the Fifth Third Bank mobile app, which allows you to deposit checks, move money, view rewards and set goals. Fifth Third Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
You can reach customer support one of several ways:
- Stop by a local branch
- Send a message through your account portal
- Schedule an appointment with a branch associate
- Call customer service at 1-800-972-3030
Fifth Third Bank products and services
With Fifth Third Bank, you’ll find these products and services:
- Checking accounts
- One of Fifth Third’s most noteworthy accounts is its Momentum Checking account, which has no monthly fee or minimum balance requirement, and comes with two ways to avoid overdrafts: through a cash advance or extended overdraft forgiveness.
In addition, Fifth Third has a premium Preferred Checking account that offers higher interest earnings, as well as accounts for students, military members and those with poor banking histories. Its ABLE checking account is for families who have a loved one with special needs and want a way to save that won’t disqualify them for government benefits.
- Savings accounts and CDs
- Fifth Third Bank offers a range of savings accounts. While most annual percentage yields (APYs) hover around 0.01%, its promotional CDs have rates as high as 4.25% at publishing.
Fifth Third Momentum Savings
Fifth Third Momentum Savings is a traditional account with a $5 fee that can be waived in several ways, such as by maintaining an average monthly balance of $500 or having a Fifth Third checking account. This account can also be used as a kids' savings account.
Fifth Third Relationship Money Market
Fifth Third Relationship Money Market comes with check-writing privileges and has a $5 fee that can be waived similar to the Momentum Savings. While it advertises tiered interest rates, it currently earns 0.01% APY across all balances.
529 Savings Plans
Fifth Third’s 529 Savings account and CD are ideal for those who want to save for a child's future education. There’s a minimum $25 deposit for a 529 savings account and $500 for a 529 CD.
Fifth Third’s minor savings account is ideal for minors, featuring no minimum deposit and no monthly fee for those under 18.
Health Savings Account
For those with a high-deductible health insurance plan, Fifth Third’s HSA can help you set aside money for medical expenses, tax-free.
Certificate of deposit
Fifth Third Bank offers a variety of CDs including standard, 529, IRA and promotional options, with a minimum opening deposit of $500 and a baseline APY of 0.01%. While the promotional CDs require a higher opening deposit of $5,000, they offer the highest APYs, up to 4.25% at the time of publishing.
- With Fifth Third Bank, you’ll find a broad selection of mortgages, including fixed-rate, adjustable rate and FHA loans. It also has The Fifth Third Down Payment Assistance Program, which can help eligible individuals cover up to $3,600 in closing costs.
The bank also features personal loans, home equity loans, small business loans and secured and unsecured lines of credit.
- Credit cards
- Fifth Third Bank has several credit cards with different rewards and benefits, including cashback, points and travel rewards. There’s also a secured card for those who need to build their credit history.
- If you’re in the market for life insurance, Fifth Third Bank provides policies for term, universal, variable and whole life insurance. They also offer disability and long-term care insurance.
- Investment services
- With Fifth Third’s investment services, you can open an individual retirement account (IRA) with as little as $500, or get one-on-one financial guidance from an in-house financial professional.
Fifth Third Bank fees
Most of Fifth Third’s traditional checking and savings accounts have no monthly fees. Specialized accounts have fees ranging from $5 to $25. However, many can be waived by meeting certain requirements, such as maintaining a minimum balance or having additional linked accounts.
Other Fifth Third Bank fees include:
- $37 for overdrafts, up to 3 times per day
- $3 for domestic non-network ATMs
- $5 for international non-network ATMs
- $33 for stop payment requests
- $15 for return deposit items
- $8 for cashier’s checks
- $2 for money order
- $5 per month for dormant accounts
- $15 for incoming wires
- $30 for outgoing domestic wires
- $50 for outgoing international wires in a non-U.S. currency
- $85 for outgoing international wires in a U.S. currency
Fifth Third Bank FAQ
Does Fifth Third Bank offer mobile banking?
Yes, Fifth Third Bank offers a mobile banking app that allows you to manage your accounts, deposit checks and transfer money.
Does Fifth Third Bank use Zelle or another payment service?
Yes, Fifth Third Bank offers Zelle for person-to-person payments. You can log into the mobile app to send or receive money.
Can I open an account at Fifth Third Bank if I have bad credit?
It depends on which account you’re applying for. However, Fifth Third does offer an Express Checking account designed for those who need help building credit.
Where is Fifth Third Bank available?
Residents in these states can open an account with Fifth Third Bank: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee and West Virginia.
Is Fifth Third Bank legit?
Fifth Third Bank is a reputable and reliable financial institution that offers a range of banking products and services. Its branch access makes it a good choice for customers who live in its 11-state service area.
It’s also a good option for anyone who needs a specialized account, including premiere checking and savings accounts, military accounts, student accounts, HSAs, 529 college savings plans, ABLE accounts and more. However, interest rates on savings products aren’t as competitive as similar products offered by online banks, so it could be worth shopping around for higher yields.
Fifth Third Bank Reviews
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I paid off my loan in full as soon as I received my statement. One week later, I received a notification by mail that they had received my money but would not apply it to my loan until I called them, and it would continue to accrue interest until the matter was finalized. First of all, why would I send them $10,000 if not to have it applied to my loan? Secondly, it's impossible to reach customer service. I've spent 45 minutes on hold and been transferred around. I am still on hold at this time.
This is the worst bank to deal with, their employees provide you with false information on their days/hours open, what you can accomplish during the phone call, what you are able to do, etc. The online website is a complete and total joke - they make it impossible to sign up, waste hours of your time, charge fees, and are unwilling to help. They are illiterate, unhelpful, and rude.
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Online banking is simply impossible. I wish there was someone in charge to help me. The helpline is simply unhelpful. "I am sorry but it's generated by the system. There is nothing we can do about it if the automated systems finds suspicious activities". The most common transactions in the US or outside, consulting your account online from outside of the country or a purchase outside of the country with their International card triggers a block on the account. Even when you use a trusted device. It's only through a lengthy and painful process that you can get your online rights to be reinstated. I have to go through this sometimes multiple times per week! I used to rave about Fifth Third until this security madness started in October of 2022. Could not be more critical of a bank service.
I had no choice. My mortgage was sold to 5/3 Bank. Both the transition and subsequent dealings with 5/3 have been awkward at best, dysfunctional at worst. From the initial payment, to setting up automatic payments to early payoffs to loan satisfaction documents every process was awkward, obtuse, and slow. I have had many mortgages over the years and they all were eventually sold on one or more times. I have never experienced any issues in the process - until 5/3 bank. So if you have a choice, just say no.
I opened a checking and savings account with a local Fifth Third Bank in Naples Florida. I did not activate the ATM card, made one large deposit and then did not touch the account for months. Fraudsters somehow started charging a "never activated atm card" over 10 transactions of just under $50 each. Fifth Third took months to PARTIALLY refund the fraud. They are refusing to refund the final $97. This has been a terrible experience with a financial institution that DOES NOT PROTECT THEIR CUSTOMER. This fraud was SO CLEARLY obvious I am still baffled as to how a huge bank did not flag these transactions. DO NOT BANK with 5th 3rd if you value your time and money.
Back in June of 2022 me and my wife got hacked. I am 77 years old, a Vet and cancer survivor. We have been dealing with this situation since and every time we get turned down for our money being returned. We have given them paperwork after paperwork from Webroot, Social security, IRS, etc and still refuse to give us back my wife's money. There were two Zelle payments made from our account that we never and a repeat never authorized. Other money that was taken and used for Amazon and many overdrafts when we mailed out bills and they bounced were returned. All they keep saying is denied. Do not bank with this company because they don't care about their customers. Their security is a joke. Keep your funds and go elsewhere to a bank that cares.
Had A cc with them and apparently through online with the last 4 of my ss, my last name and dob anyone can retrieve my username and reset my password. All that info has been leaked in data breaches. Someone hacked in and sent a balance transfer. I got an alert and called right away. After 45 min on hold the rep said she didn't see any transaction. I said look at the limit and available credit. Then she said, "Ok lets close the acct and send you a new card." I told them but it seems they are getting in through online. I’ve had this card sitting in a drawer at home for a year. She she said they couldn't close the online access.
Over a 4 month period the hackers kept making balance transfers and fake payments that would bounce. I called and called and no one was able to help me. They kept saying it's under investigation. The limit was 3800 and they scammed the bank out of 10,400 total. No one ever called me from the investigation department. They reported me to the bureaus, 30/60/90 days late and then closed the account c/o with a balance of 10,400. My score went from 780 to 580. My other banks even if I called them ahead of time to let them know what was happening started lowering my limits and closing my accounts that I had no balance on.
After 4 months of ineptitude they closed the claim and removed the late payments and the balance and closed my account for good. The loss was their fault, I called the moment it happened and every day for 4 months. As an ex-banker myself, I am dumbfounded how no one ever called me and how they reported me to the bureaus without finishing the investigation and how they didn't do anything to stop the fraud. I told them exactly what was going on. It was a glitch in their online system. Alas, at the end, the damage was done. My other creditors such as Barclays, were unsympathetic and lowered my limits.
We called and made payments every month with a representative. Paid up every month. We call to pay for Feb and there is a 155 late fee for Jan. Management could not explain where it came from and were very rude. Terrible service. Awful company.
For the second time, 5th 3rd Bank placed an extended hold on a check I deposited into my checking. First time it happened the told me there was an 8 business hold on the check because the person that wrote the check account had extensive fraudulent behaviors - - lots of bounced check. The person who wrote me the check was a former Assistant State Attorney and active member of the bar association. When I contacted the gentleman who wrote me the check he said the check cleared his account two day after I deposited it. It told 5 weeks for the check to clear. The check was for $600.
My wife wrote me a check for $2,000. I deposited in my account at the ATM on Saturday. Monday evening it was credited to my account. Tuesday morning my accounts was negative. I went the branch with ATM recipient with image of check on it and a screenshot of the check from my wife account showing the check cleared her bank Monday morning. At the branch I discover the ATM register the deposit as $200 and there was a $4,000 hold on my account. I spent an hour and forty minutes pushing prompts, being transferred and getting the runaround. Spent another hour with the branch manager. Ended the day being told the check is being held for 10 business days. Betting it going to be at least a month!
Researched fifth third Bank to discover they are ranked number four in formal complaints against them at the consumer financial protection bureau, the federal agency oversees financial institutions. They are not even in the top 100 largest banks in America but the 4th most complained about, really? This morning I went back to the branch, I paid the balance of my credit card with them and closed it. Withdrew all the money from savings then closed the account. As soon as the holds are lifted and the check clears, I will close the checking account. Thank you, **, have a nice day 5th 3rd Bank. Scam someone else!!!!
I have a credit card with 53rd Bank. I am usually very punctual with my payments. However, during the pandemic lockdown, we were forced to make some very difficult decisions for our finances, resulting in four late payments. This organization placed four negative marks on my credit because of these late payments. I recently contacted them to ask if they had any pandemic forgiveness programs to have these removed. They claimed that they sent me a notice during the pandemic that would have helped my situation, but I didn't see them, and there is nothing they can do now. According to them, I am stuck with these negative marks on my credit.
Fifth Third Bank Company Information
- Company Name:
- Fifth Third Bank
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