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By
Dori Zinn
Dori Zinn
Contributor
Dori Zinn is a personal finance journalist with more than a decade of experience covering credit, debt, investing, budgeting, saving, retirement, college affordability, jobs and careers, and more. She loves helping people learn about money.
Read Dori Zinn's full bio
Reviewed By
Zina Kumok
Zina Kumok
Contributor
Zina Kumok has been a freelance personal finance writer for almost 10 years. A trained journalist, she has covered everything from murder trials to the Final Four. She paid off her student loans in three years and chronicled the journey on her blog, Conscious Coins.
Read Zina Kumok's full bio
Updated January 26, 2024 at 11:59 am
Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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Our research is designed to provide you with a comprehensive understanding of personal finance services and products that best suit your needs. To help you in the decision-making process, our expert contributors compare common preferences and potential pain points, such as affordability, accessibility, and credibility.
Even though Fifth Third Bank operates in 11 states across the U.S., it’s the 16th-largest bank in the country. It originally started as a local bank in Cincinnati, Ohio, and now has more than 1,000 branches across Indiana, Illinois, Florida, Georgia, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennesee and West Virginia.
Fifth Third Bank offers many of the traditional accounts you’ll find at bigger-named banks, including checking accounts, savings accounts, certificates of deposit (CDs) and credit cards. Currently, Fifth Third Bank promotions include a $325 checking bonus.
Vault’s Viewpoint
- While Fifth Third Bank only has locations in 11 states, it has over 1,000 branches in those states and is the 16th-largest bank in the country.
- Like other big commercial banks, Fifth Third Bank has offered a variety of promotions—most recently its checking account offer.
- Fifth Third’s $325 checking account promotion is higher than offers from some larger, competing banks.
Fifth Third Checking Account Bonus
Fifth Third Bank offers one of the largest checking account bonuses for the lowest barrier of entry. When you make $500 in direct deposits within 90 days of account opening, you can earn $325—more than other promotions from larger banks right now. Eligible checking accounts include Fifth Third Momentum Checking and Preferred Checking.
| Minimum Deposit | None |
| Overdraft Fee | $37 |
| Monthly Service Fee | None |
| Checking Account Bonus | $325 for new customers who direct deposit at least $500 within 90 days of account opening |
| Offer Expiration | Offer expires March 31, 2024 |
How to Open a Fifth Third Bank Account
If you’re eligible, you may want to open a Fifth Third Bank account. You can open an account in person if Fifth Third Bank operates in your state or open an account over the phone.
- Decide which account is best. To qualify for the Fifth Third Bank promotion, you’ll need to choose between a Momentum or Preferred Checking account. Momentum is the most popular checking account option for Fifth Third Bank customers.
- Get your paperwork together. You’ll need some personal documents to verify you are who you say you are. This usually includes your Social Security number, driver’s license or another government-issued ID, like a passport. You’ll also need to provide information such as your current address.
- Finish the application. If you’re opening a joint account, make sure both you and your other account holder have all the necessary paperwork and verification requirements. For some folks, you may need to complete an application in person or call in case you need help completing your online application.
- Create an online account. Download the Fifth Third Bank app on your smartphone and create an account for easy access. It might also help to set up two-factor authentication for added account security.
- Get your debit card. After you set up your account, a debit card will arrive in the mail. Call the number on the card or visit the listed website to activate it. If available, add your card to your mobile wallet so you can use your phone to pay for transactions rather than taking out your physical debit card.
Frequently Asked Questions
What Does Fifth Third Bank Offer?
Like many large commercial banks, Fifth Third Bank offers checking, savings, CDs and investment accounts. They also offer some business accounts, like business checking accounts.
Which Bank Is Offering Money to Open an Account?
Many banks run promotions, and Fifth Third Bank is no exception. Currently, it’s offering $325 when you open an eligible checking account and direct deposit at least $500 within the first 90 days of account opening. That’s on the higher end of bonuses compared to what other banks are providing right now.
Is Fifth Third a Good Bank?
For those in the Midwest and South, Fifth Third Bank might be a good option. It offers more than 1,000 branch locations across 11 states, and just like other major banks, each depositor is FDIC insured up to $250,000.
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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Dori Zinn
Contributor
Dori Zinn is a personal finance journalist with more than a decade of experience covering credit, debt, investing, budgeting, saving, retirement, college affordability, jobs and careers, and more. She loves helping people learn about money.
Read more articles by Dori Zinn
As a personal finance enthusiast with a deep understanding of banking promotions and financial products, let's delve into the information provided in the article about Fifth Third Bank promotions and bonus offers in 2024 by Dori Zinn.
Firstly, it's important to note the author's expertise. Dori Zinn, a personal finance journalist with over a decade of experience, has covered various aspects of finance, including credit, debt, investing, budgeting, saving, retirement, and more. Zina Kumok, another contributor, is a trained journalist with almost 10 years of experience in freelance personal finance writing. Their collective expertise adds credibility to the information presented.
Now, let's analyze the key concepts and information presented in the article:
Fifth Third Bank Overview:
- Location and Size: Fifth Third Bank operates in 11 states across the U.S. and is the 16th-largest bank in the country.
- Origins: The bank originated as a local bank in Cincinnati, Ohio, and has expanded to over 1,000 branches across multiple states.
Banking Products Offered by Fifth Third Bank:
- Traditional Accounts: Fifth Third Bank offers various traditional banking accounts, including checking accounts, savings accounts, certificates of deposit (CDs), and credit cards.
Promotions and Bonus Offers:
- Current Promotion: As of the article's date (January 26, 2024), Fifth Third Bank is promoting a $325 checking bonus.
- Eligibility and Requirements: To qualify for the bonus, customers need to make $500 in direct deposits within 90 days of opening a new account.
- Comparison with Competitors: The article suggests that Fifth Third Bank's $325 checking account promotion is higher than some larger competing banks.
Checking Account Details:
- Account Options: Eligible checking accounts for the promotion include Fifth Third Momentum Checking and Preferred Checking.
- Minimum Deposit: No minimum deposit requirement.
- Overdraft Fee: $37.
- Monthly Service Fee: None.
Offer Expiration and How to Open an Account:
- Expiration Date: The checking account offer expires on March 31, 2024.
- Account Opening Process: Eligible individuals can open a Fifth Third Bank account either in person (if the bank operates in their state) or over the phone.
- Account Types: Customers need to choose between Momentum or Preferred Checking to qualify for the promotion.
- Documentation: Applicants need personal documents such as Social Security number, driver’s license, or government-issued ID.
- Application Completion: Joint account holders may need to complete an application in person or seek assistance over the phone.
Frequently Asked Questions (FAQs):
- Bank Offerings: Fifth Third Bank provides checking, savings, CDs, and investment accounts, including business checking accounts.
- Current Promotion: The bank is currently offering $325 for opening an eligible checking account with a direct deposit of at least $500 within the first 90 days.
- Bank Reputation: For those in the Midwest and South, Fifth Third Bank is considered a viable option with over 1,000 branch locations across 11 states, and it is FDIC insured up to $250,000.
In summary, Fifth Third Bank's promotions, particularly the $325 checking bonus, seem competitive in the market, and the bank's extensive branch network in the Midwest and South adds to its appeal for potential customers in those regions.
