Fifth Third Bank (OH) is headquartered in Cincinnati and is the 3rd largest bank in the state of Ohio. It is also the 16th largest bank in the nation. It was established in 1865 and as of September of 2016, it had grown to 18,022 employees at 1,208 locations. Fifth Third Bank (OH) has an A health rating.
My husband and I have had a joint checking and individual checking accounts with 5/3 Bank since we got married over 8 years ago. We have had very few issues with our checking accounts and, when we have had issues, they were resolved fairly quickly. We also have 2 savings accounts and an additional 2 savings accounts in our children's names'. There has been no issues with the savings accounts and my children loved the goodies they received when we opened their accounts. I have spoken with Customer Service multiple times over the year regarding overdraft fees and when my debit card number was stolen and unauthorized purchases were made. Customer service at 5/3 is excellent and they have always worked diligently to correct anything that has gone wrong. I like how, if you have certain types of accounts with 5/3, that you don't have a monthly fee, which, in our case, we have multiple checking and saving accounts as well as our mortgage. I have been very happy with our choice to bank at 5/3 and would highly recommend it to others who have access to a 5/3 bank.
I've been a member of this bank for about 3 years now. Every time I've called their customer service I got great service. I don't think they ever put me on hold for more than one or two minutes. They've always stayed on the line with me until all my problems were resolved. They go out of their way to provide their customers with exceptional service. The first time I was thinking about getting a credit card I went into one of their branches and one of their financial advisors sat with me for nearly an hour answering all my questions and providing me with all the information I needed to make an informed decision. I ultimately decided to get a credit card and received it in the mail well before they said it would come. I've never had a negative experience with Fifth Third Bank.
Fifth Third bank is a regional bank with online banking options. Online features are limited but ever growing. The bank does offer tons of fraud protection and decent enough online banking features, just nothing spectacular for setting up new accounts or features to achieve goals. Often times you even have to call them to simply change your password! The bank has amazing customer service, but overall terrible/sub standard products. They have fees for $$$ falling below a decent level ($1500) or unless you have direct deposits. Fees for multiple different services. In exchange for your fee you get nothing new over any other bank. No higher interest rates, no new exciting investment vehicles or services... just regular run of the mill banking services you can get from anywhere. The bank offers average or slightly below rates for interest and slightly above or average rates for fees. All in all the bank is a bit sub standard. I will reiterate it does have amazing customer service from employees, but its online banking features and its service offerings are all standard or below.
My mother and I were major depositors for many years, but that does not seem to matter.
(1) My mistake my balance was low. I was glad a lady from my branch called to say she had a $500 check I wrote that would be returned if I didn't deposit enough money to cover it before close of business. I deposited more than a sufficient amount into an ATM two hours later. They still charged me for returning that check, the charged me for returning another check (by now I had deposited enough to cover all my checks), and charged me an overdraft fee.
(2) I knew my balance was too low for a $450 check I wrote that the bank would receive any day. I hurried and sold some gold for which the dealer wrote a generous check. I immediately deposited this check so the $450 check would be more than adequately covered. I asked the teller if that money was in my account "right now" so if they received a $450 check that would be paid from my account, it would be covered. She assured me it would be covered. They received the check that day and still charged me for an overdrawn account. A customer service person said it counted as an overdraft because the check was pending and the $450 was not available that day. He said the teller gave me wrong information, but he did refund this overdraft fee.
(3) I asked my branch to wire transfer money to a friend's account in State Bank of India. Not all foreign banks have standard internatonal bank numbers. Because State Bank of India did not have that number, but uses something different, Fifth-Third's computer system could not handle it.
|FDIC Certificate #||6672|
|Return on Assets - YTD||1.15%|
|Return on Equity - YTD||9.19%|
|Annual Interest Income||$3.18B|
|Assets and Liabilities|
|Assets||Q3 2016vs Q3 2015||$140.8B$139.5B|
|Loans||Q3 2016vs Q3 2015||$92.83B$93.19B|
|Deposits||Q3 2016vs Q3 2015||$104.9B$105.2B|
|Equity Capital||Q3 2016vs Q3 2015||$17.73B$17.02B|
|Loan Loss Allowance||Q3 2016vs Q3 2015||$1.25B$1.24B|
|Unbacked Noncurrent Loans||Q3 2016vs Q3 2015||$770.1MM$520.3MM|
|Real Estate Owned||Q3 2016vs Q3 2015||$91.4MM$148.8MM|
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