Fifth Third Bank Review 2022
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At a glance
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Fifth Third Bank may be a good choice for those who live within its branch footprint and prefer in-person banking. Customers also have 24/7 access to accounts through the highly rated mobile app. The bank offers accounts with low minimum deposit requirements, along with a large network of fee-free ATMs, but those seeking competitive rates will need to look elsewhere.
- Low Min Deposit
- Highly Rated App
Fifth Third Bank is a regional financial institution with customers in 11 states and more than 1,100 branches. It offers multiple checking and savings accounts, a money market account and a wide range of CD terms.
The bank offers access to more than 50,000 fee-free ATMs nationwide.
There are low minimum deposit requirements for CDs.
There is no minimum deposit required to open a checking or savings account.
Branches are limited to 11 states.
Other banks pay savers much higher yields.
Overdraft fees are higher than average.
Fifth Third Bank bank products
Fifth Third Bank savings overview
The Fifth Third Momentum savings account allows you to set up savings goals and allocate portions of your funds to them. Savings accounts require no minimum deposit as long as they’re funded within 45 days. They pay a very low rate, and a $5 monthly fee is charged for balances less than $500. The fee can be avoided if the account holder also has a Fifth Third checking account, is enrolled in Fifth Third Military Banking, or is under 18 years of age.
There is no minimum deposit required to open an account.
Savers will get the ability to set a personal savings goal and track their progress.
Other banks offer much higher APYs.
A $500 balance is needed for some customers to avoid a monthly fee.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Fifth Third Bank provides access to tens of thousands of ATMs and a highly rated mobile app.
Fifth Third debit and credit cards work with Apple Pay, Samsung Pay, Google Pay and other mobile wallets. Zelle, for peer-to-peer payments, is also available.
Customers also have access to more than 1,100 branches to conduct in-person banking. The bank’s call center is closed Sundays, but 24/7 support is available via a chat function on its website.
About Fifth Third Bank
Fifth Third Bank is the main subsidiary of the Cincinnati-based financial services company Fifth Third Bancorp. In addition to Ohio, Fifth Third Bank also has customers in 10 other Midwestern and Southern states.
The bank has deep ties to the communities it serves. In 1948, it was the first financial institution in America to set up a charitable foundation.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.