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Compare Fifth Third Bank products: Savings, Checking, and CDs

A wide range of personal and business options, but watch out for limited branches.

Updated

Fifth Third Bank
Fifth Third Bank offers 22 personal and business banking products. It has over 50,000 in-network ATMs nationwide, but its branch locations are primarily on the East Coast.

What banking products does Fifth Third Bank offer?

How does Fifth Third Bank compare to other banks and services?

Fifth Third Bank was established in 1858 and is headquartered in Cincinnati, Ohio. As one of the largest regional banks around today, it manages over $169 billion in assets and has nearly 1,200 branch locations and 2,500 self-branded ATMs. It partners with the Allpoint, Presto! and 7-Eleven ATM networks to bring its customers fee-free access to over 53,000 ATMs nationwide. In addition to business and consumer bank accounts, it offers credit cards, loans, investments, insurance and down payment assistance.

Fifth Third Bank has locations in 11 states:

  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • North Carolina
  • Ohio
  • Tennessee
  • West Virginia

Checking accounts

Pros

  • Vast account selection. Choose from seven personal checking accounts and three business checking accounts.
  • No opening deposit requirements. Open any personal checking account with as little as $0. Just be sure to fund your account within 45 days or Fifth Third will close it.
  • Large ATM network. Use your Fifth Third debit card to withdraw cash for free at over 53,000 Allpoint, Presto! and 7-Eleven ATMs nationwide.
  • Rewards debit card. Earn cash back on debit card purchases through Fifth Third Bank‘s Prewards program.

Cons

  • Monthly fees. Most of Fifth Third’s checking accounts have associated monthly fees which you can avoid when you meet certain requirements.
  • Unclear interest rates. Fifth Third offers several interest-bearing checking account options, but it doesn’t list rates on its website. Instead, you’ll have to call a representative to see what you qualify for.
  • Miscellaneous fees. Expect to pay $37 for overdrafts, up to five times per day. Plus, $3 for domestic non-network ATMs, $5 for international non-network ATMs, $15 for incoming wire transfers and $50 to $80 for international wire transfers depending on the currency type.

Savings accounts

Pros

  • Relationship rates. Earn a higher APY when you link your Fifth Third Checking account to your savings account.
  • No excessive transaction fee. Unlike other banks, you won’t pay a fee if you make more than six monthly outgoing transactions. But it may move your money into a checking account if you make more than three excessive transactions in a 12-month period.
  • Goal tracking features. The Fifth Third Goal Setter Savings helps you set savings goals and track your progress. Plus, you earn bonus interest when you reach your goal.

Cons

  • Low interest rates. APYs top out at 0.02% for savings accounts and 0.1% for money market accounts. For reference, most online only banks offer rates around 1.5%.
  • In-person banking. You’ll need to visit a branch to open any business savings account.
  • High fees. Monthly maintenance fees range from $5 to $10. Although there are ways to waive these fees, the requirements are stricter than those at other banks.

CDs

Pros

  • Plenty of terms. Fifth Third offers both short- and long-term CD options with terms starting out at one week and going up to seven years.
  • Promotional rates. Lock in a higher APY when you open a three, six or 15-month Featured CD.
  • Accessible interest. If you have a linked Fifth Third checking or savings account, you can get your interest credited one of those accounts each month instead of your CD.
  • No monthly fees. Like most CDs, you won’t pay anything to open or maintain this account with Fifth Third.

Cons

  • Varying minimum deposit requirements. You’ll need at least $5,000 to open a Promotional CD or a Standard CD with a term less than three months. To open a Standard CD with terms of three months or more or a 529 CD, you’ll need at least $500.
  • No partial withdrawals. If you need to access your money early, you’ll pay a penalty fee and be forced to close out your entire account.
  • Must apply in-person. Fifth Third doesn’t support online applications for CDs, so you’ll have to visit a local branch to open this account.

Overall banking

Pros

  • Convenient customer service. If you need assistance, you can pop by your local branch or call customer service weekdays from 7 a.m. to 8 p.m. ET and Saturdays from 8:30 a.m. to 5 p.m. ET.
  • Card-free ATMs. Fifth Third’s ATMs offer card-free access, so you don’t have to panic if you leave your debit card at home.
  • Fifth Third Momentum app. This highly-rated app rounds up your debit card purchases and applies the difference to your student loan balance.

Cons

  • Unclear interest rates. Fifth Third’s interest rates vary by region, so you’ll need to enter your zip code on its website, call customer service or visit a local branch to figure out what you qualify for.
  • Limited branch locations. Fifth Third Bank has locations in 11 states. If you live outside this service area, you’ll need to be comfortable banking online and getting assistance over the phone.

    Compare Fifth Third Bank to the competition

    Name Product Minimum deposit to open ATMs Out-of-network ATM fee
    BBVA Online Checking
    $25
    No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
    $3
    A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
    Citibank® Account Package
    Citibank® Account Package
    $0
    No access to ATMs
    $2.50
    Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
    NorthOne Business Banking
    $50
    More than 300,000 ATMs across America.

    $0
    A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
    BBVA Free Checking
    $25
    1,000 fee-free ATMs across the country
    $3
    Pay a $0 monthly service charge and get free access to BBVA ATMs.
    Chase Total Checking
    $0
    Access to 16,000 ATMs and nearly 4,900 branches nationwide
    $2.50
    Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
    Chime Spending account
    $0
    38,000 fee-free ATMs nationwide
    $2.50
    Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
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    Compare up to 4 providers

    Fifth Third Bank customer service

    There are three ways you can contact Fifth Third Bank customer service:

    • Visit a branch location.
    • Schedule an appointment with an associate.
    • Call 800-972-3030 weekdays from 7 a.m. to 8 p.m. ET and Saturdays from 8:30 a.m. to 5 p.m. ET.

    Bottom line

    Fifth Third Bank has a range of banking products for everyone from minors to the military. But if you’re looking for an account with higher yields or more branch locations, you might want to shop around for other options.

    Frequently asked questions

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