Primarily in the Midwest and Southwest, Fifth Third Bank is located in 10 states with 1,300 branches. They also have 100 Bank Mart locations, which you can find inside grocery stores that operate 7 days a week. To find out if Fifth Third Bank is right for you, continue reading this review below.
Fifth Third is well known for the relationship rates they offer consumers who hold more than one deposit account. Although they have higher balance requirements and service fees if they’re not met, it still offers some unique benefits.
Table of Contents
- 1 Checking Accounts
- 2 Compare Checking Accounts
- 3 Saving Accounts
- 4 Compare Savings Accounts
- 5 CD Account Options
- 6 Compare CD Accounts
- 7 Reasons to Bank with Fifth Third
- 8 Reasons to Not Bank with Fifth Third
- 9 Fifth Third Bank Routing Number
- 10 Contact Customer Service
- 11 How Fifth Third Bank Compares
- 12 Bottom Line
Fifth Third offers 5 checking accounts that may fit your needs. Each checking account comes with a debit card and access to online/mobile banking.
This interest bearing checking account offers several ways to waive the monthly service fee.
You’ll either need a minimum of $1,500 balance across your deposit accounts at Fifth Third, spend a minimum of $500 monthly Fifth Third credit card, or have a loan from Fifth Third (this includes mortgage, auto loan, or personal loan).
For most accounts, you can also get unlimited check writing privileges and access to a secondary checking account.
If you have a balance of $100,000 on deposit, you’ll get even more benefits. In addition to the interest you earn on your checking account, you’ll have access to higher CD rates and lower loan interest rates.
You will also have access to unlimited check writing, a secondary checking account and free access to Fifth Third’s Identity Alert.
You can also get ten non-Fifth Third ATM transaction free of charge each month.
High school and college students ages 16 and up have access to a checking account that is similar to the Essential Checking account, but there’s no monthly fee. You don’t have to keep a minimum balance and you’ll receive up to five free non-Fifth Third ATM transactions per month.
This account is for current and former military members.
You can waive the monthly service fee in essentially three ways: with monthly direct deposits of at least $500, a combined deposit balance of at least $1,500, charge at least $500 a month on a Fifth Third credit card, or have an existing loan or mortgage from Fifth Third.
Members of the military also get 10 free non-Fifth Third ATM transactions per month and special VA home loan rates.
This account has no service fee, balance requirement, or overdraft fees.
But, you don’t get check writing, ATM check deposits, or online bill pay. You do however, get immediate access to your money when you deposit a check.
There is no credit score requirement to open this kind of account, so anyone can open one.
Compare Checking Accounts
Open your Asterisk-Free Checking® account today and enjoy:
• $150 bonus by making total deposits of at least $1,000 within 60 days of account opening.
• Free to open and free to maintain with no monthly maintenance fees
• 24-Hour Grace Overdraft Relief
• All Day DepositSM
• Enjoy mobile & online banking
You won’t find a large selection of savings accounts at Fifth Third, but the accounts they do offer have unique rewards.
If you have a savings goal, Fifth Third may reward you for reaching that goal with this account. You can only access your funds at a Fifth Third Branch.
Additionally, you can get the monthly fee waived if you have a checking account from Fifth Third and if you keep an average balance of $500, Military Banking account or you are under the age of 18.
You may be eligible for relationship interest rates if you have a Fifth Third checking account. For the service fee to be waived, you’ll either need to have a checking or Military bank account from Fifth Third, have an average daily balance of $500 or be under the age of 18.
You can open a savings account for anyone under 18, completely free of charge.
If you have a significant amount of money to deposit into a savings account, you should look into the Money Market account!
You’ll earn tiered interest rates with this account, which means the more money you have on deposit, the higher interest rates you can earn.
If you have a Fifth Third checking account, you may also earn Relationship interest rates.
You can get the monthly service fee waived if you have a Fifth Third checking or Military Banking account, have an average daily balance of $500, or one owner on the account is under the age of 18.
Compare Savings Accounts
Open a Discover Online Savings Account for all these features:
• Earn high interest rate of 1.15% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
CD Account Options
Fifth Third offers a variety of CDs, each of which has the option to be automatically rolled into another CD at maturity.
You also have the option to have your interest rolled into the CD investment or disbursed into you Fifth Third checking or savings account.
You can open a promotional CD with just $5,000! There is a variety of terms to choose from depending on the promotion at the time of opening the account.
You’ll need $5,000 to open a Standard CD, but you can choose from a variety of maturity dates ranging from 7 days to 89 days.
You’ll need just $500 to open a Standard CD with terms ranging from 3 months to 84 months. The longer the term that you choose for your CD, the higher interest rate that Fifth Third pays.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.35% APY up to 1.25% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 1.25% APY on a 12-Month CD Term
• Earn up to 1.30% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the BBVA CD:
• Earn up to 0.50% APY with just a $500 minimum deposit
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Reasons to Bank with Fifth Third
- The Fifth Third Momentum app helps you pay your student loans down faster. Every purchase you make with your Fifth Third debit card will be automatically rounded up to the nearest dollar, and whatever is left will be distributed towards your student loan.
- You don’t have to meet a minimum balance and there’s no monthly service charge. You do have to pay for the service though, but you can earn loyalty pricing to get lower rates the more you use the service.
- Set up automatic transfers from your checking account to savings account. You decide the frequency and the amount of the transfers and this take the thinking out of savings and eliminates the risk of you forgetting or overspending!
- They offer 529 Savings and CD program, making it easier to save for your child’s college education. The programs also don’t have monthly service charges, you can open an account with as little as $25 and have guarantee FDIC insurance.
- If you have a High Deductible Healthcare Plan, you can open a tax advantaged Health Savings Account. With a balance of $4,000 you can waive the fee.
- The Fifth Third Identity Alert program monitors one credit bureau daily, all three credit bureaus monthly, and offers Social Security monitoring. You will also receive up to $25,000 in identity theft insurance. This program is free for Preferred Checking customers.
- You can deposit your checks via the mobile app.
- If you need to access to your statements for Texas, budgeting, or any other reason, they are right at your fingertips. You can view them online or in the mobile app.
- You can links yous savings account, credit card, or line of credit to your checking account. If you spend more than your balance in your checking account,
- Fifth Third will transfer the necessary funds from your linked account. You will pay a fee for each transfer, but it’s less than the cost of an overdraft.
Reasons to Not Bank with Fifth Third
- If you don’t live in one of them, you can’t bank there. Fifth Third currently operates in Ohio, Indiana, Florida, Georgia, Illinois, Kentucky, Michigan, North Caroline, and Tennessee.
- To get the best interest rates in their CDs, you need at least $5,000 to open a Promotional CD.
- The requirements to waive the monthly service fee on any Fifth Third Checking account are hefty. You need at least $1,500 in your checking account, and that’s for the most basic checking account. There is the Express Banking option with no minimum balance requirement, but it also has more limited functions.
Fifth Third Bank Routing Number
Fifth Third Bank’s routing number can be found on your checks in the lower left corner. Each Fifth Third Bank’s routing number depends on the state the bank resides.
Contact Customer Service
You can reach Fifth Third Bank customer service at 1-800-972-3030. They are open on Monday through Friday, 7 AM to 8 PM ET, and Saturday, 8:30 AM to 5 PM ET.
How Fifth Third Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options. Chase offers more than 5,100 branches and 16,000 ATMs nationwide.
- Huntington Bank: Huntington offers no monthly service charge if you meet their can follow their guideline. All you have to do is have an “x” amount depending on your account type and your fee is waived. Additional features include overdraft protection fee, mobile banking, access to over 800 branches and 1,800 ATMs, and more.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
If you live in one of the states Fifth Third is located, then you may want to consider banking with them. You can acquire the relationship rates which means even higher interest rates for you when you open multiple accounts.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re a student, then you can especially benefit with Fifth Third because you won’t have to worry about paying monthly fees nor keep a minimum opening deposit.
Otherwise, then this is the bank for you! If you’re interested in banking with Fifth Third Bank, then see what they have to offer through Fifth Third Bank Promotions! And while you’re here on HMB, check our full list of Best Bank Promotions for more options!