Fifth Third's Preferred Checking account offers high interest rates out of Fifth Third Bank’s checking options. Unfortunately, the account might not make sense for the everyday customer. The tiered interest rates are on par with yields tied to the standard savings account.
Another interest-bearing option is the Fifth Third Enhanced Checking account. There are two options to avoid the $20 monthly service charge: monthly direct deposits totaling $5,000 or combined total balance of $20,000. Fifth Third Essential checking does not earn interest but comes with more accessible options to avoid the $11 monthly fee including maintaining a combined monthly average balance of $1,500 across deposit and investment accounts.
No minimum deposit required to open a checking account.
Access to more than 50,000 fee-free ATMs.
No fees from Fifth Third for up to 10 non-Fifth Third ATM transactions per month for Preferred Checking account holders.
Preferred Checking account holders get complimentary checks, notary services, money orders and cashiers checks.