Written by Ali Cybulski | Edited by Kim Porter | Published on 1/13/2025
Fifth Third Bank, based in Cincinnati, serves 11 states concentrated in the Midwest and the Southeast and provides full service through nearly 1,100 branches. Banking products include checking, savings and money market accounts (MMAs), as well as certificates of deposit (CDs).
The bank offers a traditional checking account and five types of specialty checking accounts. Fifth Third Momentum Checking, a traditional account, is the most popular choice, according to the bank. You can open this account with no minimum deposit, and you don’t need to maintain a minimum balance.
Account benefits include extra time to make a deposit and avoid overdraft fees — $37 per item — plus access to eligible direct deposit payments up to two days before you’re scheduled to receive them. This account also comes with access to Fifth Third’s nationwide network of more than 40,000 fee-free ATMs.
Specialty checking accounts include:
• Fifth Third Preferred Checking, which offers access to exclusive discounts and benefits but has a $25 monthly service charge (waiver available)
• Fifth Third Student Checking, a personal checking account for kids or students ages 13 and up
• Fifth Third Military Checking, which provides monthly service charge discounts and other benefits for military families
• Fifth Third Express Banking, a simple account that allows you to cash checks and make deposits with no balance requirement or overdraft fees, but comes with a $5 monthly service charge
• Fifth Third ABLE Checking, which either reduces or waives service charges if eligible, and allows you to pay no taxes on interest earned or withdrawals used for qualified expenses
Fifth Third Bank promotes two main savings options and, as with its checking accounts, a variety of specialty choices. The first, Fifth Third Momentum Savings, pays an annual percentage yield (APY) of 0.01% and charges a $5 monthly service fee, with a monthly waiver available. No minimum deposit is required.
Overdraft protection is free if the account is linked to a Fifth Third Momentum Checking Account.
The second option, Fifth Third Relationship Money Market, earns a rate that increases with your balance. Visit a branch for specific rate information. The account also comes with free overdraft protection, if linked to a Fifth Third Momentum Checking Account, and includes a $5 monthly service fee with waivers available.
Specialty savings accounts at Fifth Third include kids accounts, 529 accounts for higher education, and health savings accounts (HSAs).
The bank also offers CDs. Savers can select from four types, including promotional, short-term standard, long-term standard and 529. The minimum deposit required for promotional and short-term standard CDs is $5,000; it is $500 for long-term standard and 529 CDs. Terms range from seven days to 144 months.
If you want to open a CD, you must visit a branch, schedule an appointment or call the bank at 877-579-5353. Opening a CD online is not an option.
Fifth Third Bank’s online and mobile banking allow you to pay bills, access account history and set up account alerts. The mobile app has a cardless ATM feature that lets you get cash at more than 2,400 Fifth Third ATMs, even without your card.
For customer service, contact Fifth Third Bank at 800-972-3030 from 8 a.m. to 6 p.m. Eastern time Monday through Friday and from 10 a.m. to 4 p.m. Saturdays. Alternatively, log in to your account and select the chat icon at the bottom of the page to send a message online or via the mobile app. This service is available 24/7.
Fifth Third Bank pros and cons
Pros:
• Access to a nationwide network of more than 40,000 fee-free ATMs
• No minimum-deposit requirement for checking or savings accounts, though accounts must be funded within 45 days of opening
• Extra time to make a deposit and avoid overdraft fees with Fifth Third Momentum Checking
Cons:
• Branches limited to 11 states
• Low rates on savings accounts
• Overdrafts cost $37 each, up to a maximum of three charges daily
There Is A Whole Class Of Depositers Who Were Not Paid The Rate They Were Warranted To Recieve.
Fifth Third Bank has admitted to underpayment on the initial Money Market promotion and on another promotional extension. (I hope all customers in these two classes have gotten apologies and checks.).
However, the fraud continued after that period. Local agents guarantee a rate or return, collecting funds (and bonuses?) and 5th 3rd chooses not to pay it (getting fatter bonuses?). The local branch commits to a FIRM Money Market rate and guarantees to notify me if rates go down. I made significant deposits based on that warranty.
Money Market statements are delayed and cover three months. My statement showed I was paid at a rate about 25% less than what they committed to on paper, over the phone and in person.
Local branch representative who took my checks and made the guarantees said his boss would not let him do anything to correct the situation. No one from local branch management has contacted me.
I have reported this fraud to the president of 5th 3rd who has ignored me and the issue. That being the case, I went on to contact the BBBs in three states, agencies and governing authorities in the same three states, the postal authorities, the FBI and other federal agencies.
This matter should have been quickly corrected with a smile six months ago when I first discovered the fraud and went in person to the local branch.
The canned responses from 5th 3rd are unresponsive to the issues. They have provided no spread sheet showing what was actually paid on a daily basis only a summary after the fact showing three months of underpayment asking me to just trust them (again).
This is how one star ratings are earned.
Not Available Nationwide
will not accept NY address, CSR says they only do business in states that they have branches in.
DON”T BANK HERE GEORGIA
This has been the worst bank experience. My friends and family haven’t even heard of this happening. I went to open an account with them because they advertise the use of Zelle. I deposited 1500 dollars in CASH and my account was put on hold for a month. I walk into the bank to try to get access to my account, and it’s “unavailable” due to a higher office. Yes I was late on rent. No I was not told about any holds prior to the deposit.
Years later, after I haven’t done anything but store money there because I moved 4 states away, I try to deposit a money order online. Turns out, it was a scam money order. They definitely didn’t tell me this. What they DID do was lock my account. This is when I found out they do not have customer service on weekends. On Monday, I play phone tag with different reps telling me to call a different office. Eventually, I find out that, without even telling me, the account owner, they are closing ALL of my accounts. Not just the savings where the scam occured.
They continued to email me daily about “Checking a new document on my online account” and I can’t, because I am locked out. No, they would not allow me to access my account, no matter how many different forms of ID I could try to offer. Then I asked to speak to a supervisor. They informed me that they would not take the call because it was about a closed account. I still had jobs direct deposits going into these accounts, which were supposed to be closed. One day I called asking if the deposits would bounce back and was told there was no deposit, even though the job said processed . The next day, I called another rep and was told my deposits were in my account balance. It’s been two weeks since the scam and they are still ACCEPTING MY MONEY, but not letting me access it. I wish I hadn’t deposited that check. I wish I had never banked here to begin with. I seriously don’t have one good experience with them.
Whether they even knew that I was calling from my own number, I don’t know. They definitely lack the foresight and decency of a bank their size.
Fifth Third Fails In Its Most Basic Duty: Protect Account & Reimburse When Funds Are Stolen
I am sharing this review, ironically, during the celebration of National Consumer Protection Week. My business has been a customer of the downtown Fifth Third Bank branch for approximately 20 years. Fifth Third failed to protect our funds from an account takeover via a "check-washing" theft (involving the changing of payor's name, and obvious forgery of signatures). Unfortunately, despite immediately reporting the theft, it happened more than once (June, 2023, and December 2023). Fifth third failed in its most basic duty --- keep the funds safe and secure. To add insult to injury, Fifth Third then denied our requests for reimbursement. The runaround and bureaucracy at Fifth Third is atrocious. Fifth Third failed in its legal duty to secure and protect the consumer, and failed to reimburse. Upon further research, it appears that this is a pattern and practice by big banks across the country. See recent lawsuit by NY AG against Citibank. See Senator Sherrod Brown's Senate Committee on Banking. We have asked for copies of all documents supporting their denial of our request for reimbursement. Fifth Third so far is silent. We have filed complaints with the regulatory agencies, Consumer Financial Protection Bureau, and the Office of Comptroller of Currency. We have also filed with the BBB. I encourage similarly situated consumers at Fifth Third to do the same. #53Better. Here is our story. https://tinyurl.com/2p87exdy
https://tinyurl.com/mtz67yy2
https://tinyurl.com/mr3p4tdu
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 6672 |
| Year Established | 1865 |
| Employees | 18774 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.13% |
| Return on Equity - YTD | 10.66% |
| Annual Interest Income | $2.44B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $211.9B$213.7B |
| Loans | Q1 2025vs Q1 2024 | $120.3B$114.5B |
| Deposits | Q1 2025vs Q1 2024 | $169B$175B |
| Equity Capital | Q1 2025vs Q1 2024 | $22.98B$21.1B |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $2.38B$2.32B |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $993MM$719MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $21MM$28MM |
