Fifth Third Bank Review
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At a glance
Overview
Fifth Third Bank is not as big as the biggest banks with a national presence, and it’s not as competitive when it comes to rates and fees as the best online banks. But the bank offers checking accounts with no minimum balance requirements and no monthly service fees, which sets it apart from many big-bank competitors. Note that you can only open an account with Fifth Third Bank if you live in one of the eleven states where it has branches.
Highlights:
Highly Rated App Low Min DepositHighlights:
CDs
Checking
Savings
MMA
Customer Experience
In the news
In July 2024, the CFPB charged Fifth Third Bank with opening unauthorized deposit accounts in customers’ names to meet sales goals. It ordered the bank to pay a $15 million fine and refund fees and costs to those with these accounts. Fifth Third neither admitted nor denied wrongdoing in agreeing to the settlements.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall pros and cons
Pros
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Though its a regional bank, its branch network is substantial.
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No monthly service fee for its basic checking account, Momentum Checking.
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No minimum deposit requirements to open a checking or savings account.
Cons
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Account availability is limited to those living in the 11 states where it has branches.
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Low savings rates.
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Momentum Savings has a monthly fee (though it is avoidable).
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Fifth Third Bank banking products
Fifth Third Bank Momentum Savings overview
Pros
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You can link a Fifth Third checking account for free overdraft protection.
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No minimum balance to open.
Cons
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Extremely low APY.
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$5 monthly service fee, though it is avoidable.
Fifth Third Bank offers several savings accounts, including one for minors and a health savings account. 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 but they must be funded within 45 days or the account may be closed. The Momentum account pays a very low rate, and a $7.50 monthly fee is charged unless account holder also has a Fifth Third checking account or has a balance of at least $500.
Fifth Third Bank certificates of deposit overview
Pros
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Promotional CDs have elevated rates that are surprisingly high compared with other big banks.
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The minimum deposit for standard CDs with terms of three months and longer is just $500.
Cons
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Promotional CDs require a minimum deposit of $5,000.
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There are no alternative CD types such as no-penalty CDs or bump-up CDs.
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Early withdrawal penalties are not limited to the interest and can be as high as 3 percent of the amount withdrawn.
Fifth Third Bank offers several types of CDs. The rate offered on the standard one-year CD is very low, though the the bank is also offering promotional CDs with much higher yields. Standard CDs require only $500 to open.
The promotional CDs have rates that vary depending on location, and require $5,000 to open. Savers also have the option of opening a 529 CD, for setting aside money for a child’s college education.
Fifth Third Bank Relationship Money Market overview
Pros
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The Fifth Third Relationship Money Market Savings Account offers check-writing privileges.
Cons
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Even the “relationship interest rate” that you get with a linked checking account is a paltry 0.01 percent APY. Online banks offer much higher APYs on money market accounts.
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Accounts with balances below $500 are subject to a $5 monthly fee (though there are a few things you can do to get the fee waived, like link a Momentum Checking account).
The Fifth Third Relationship Money Market Savings Account currently pays a very low APY for all account balances. Balances of less than $5,000 are subject to a $20 monthly fee unless you also have an active qualifying Fifth Third checking account, you're under 18 or enrolled in Fifth Third Military Banking.
Fifth Third Bank Momentum Checking overview
Pros
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Access to more than 2,400 Fifth Third ATMs, along with additional fee-free partner ATMs across the country.
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Free overdraft protection transfers from a linked account.
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Direct deposit customers may receive their paycheck up to two days early.
Cons
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Expensive overdraft fees of $37 per overdrafting transaction, which can be charged up to three times per day.
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The Momentum Checking account doesn’t pay any interest, so you may want to compare to the best checking accounts to see how much you could earn with a different account.
Fifth Third Bank offers several checking accounts. The Momentum Checking account doesn’t require a minimum deposit to open nor does it charge a monthly fee, but it also doesn't pay any interest. Customers who set up direct deposit may receive their paycheck up to two days early.
Regardless of which account is chosen, customers have access to a well-rated mobile banking app that comes with a variety of features, such as instant alerts on account activity, mobile deposit capture and the ability to update account information.
Customer experience
Physical presence and customer support
Customers also have access to nearly 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. Fifth Third Bank provides access to its own network of around 2,400 ATMs, along with fee-free partner ATMs and a highly rated mobile app. You are eligible to open an account at Fifth Third Bank if you live in one of these states: Alabama, Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee and West Virginia.
Mixed customer satisfaction
Fifth Third Bank received mixed customer satisfaction scores. For example, the bank came in second for customer satisfaction among customers in Florida in J.D. Power’s 2026 U.S. Retail Banking Satisfaction Study. Customers on Trustpilot don't fully agree: The bank has a 3.9 out of 5 rating based on just over 900 reviews.
Highly rated mobile app and Zelle integration
The Fifth Third mobile app has a high rating on the Apple App and Google Play stores. Across both platforms, more than 600,000 users have rated the app. Zelle, for peer-to-peer payments, is also available.
Early pay
Fifth Third offers a feature called early pay, which allows customers to get their paycheck via direct deposit up to two days sooner, though this feature is not unique to Fifth Third Bank.
Bankrate staff insights
“When I signed up with Fifth Third, there was a bonus worth a few hundred dollars for setting up direct deposit, which helped me get over the inertia of moving to a new account,” said a Bankrate staff member with an account. “The only downside is that Fifth Third doesn’t offer a high yield on their savings account, so I keep my savings in a separate online bank — but their mobile app makes it really easy to transfer money in and out."
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
The above images were last updated on July 12, 2024.
How Fifth Third Bank compares to other banks
Compare different account types offered by Fifth Third Bank. Annual percentage yields (APYs) shown were updated between Aug. 23, 2026 and Aug. 29, 2026.
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Selected bank
Fifth Third Bank savings account
Bankrate score
2.5
Bankrate Savings rating = 2.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Wells Fargo savings account
Bankrate score
2.5
Bankrate Savings rating = 2.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Aug. 23, 2026 and Aug. 29, 2026.
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| 0.01% | 0.01% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $5 | $5 | |
| Fifth Third Bank offers several savings accounts, including one for minors and a health savings account. 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 but they must be funded within 45 days or the account may be closed. They pay a very low rate, and a $5 monthly fee is charged unless account holder also has a Fifth Third checking account, is enrolled in Fifth Third Military Banking, or is under 18 years of age. | The Wells Fargo Platinum Savings account has check-writing privileges. That might give you more payment flexibility than with other savings accounts. The bank doesn’t offer a debit card for this account. | |
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APY offering:
0.01%
1/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$0.00
5/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$5.00
4/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$500.00
2/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Average
4/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
Yes
5/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
|
APY offering:
0.01%
1/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum deposit for APY:
$25.00
4/5
The minimum deposit amount a financial institution requires in order to open a savings account.
Monthly service fee:
$5.00
4/5
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
Minimum balance to avoid fee:
$300.00
3/5
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds:
Great
5/5
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools:
Yes
5/5
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The minimum deposit amount a financial institution requires in order to open a savings account.
A monthly charge a financial institution deducts from an account; can sometimes be waived if certain requirements are met.
The lowest balance an account must maintain to avoid a monthly fee.
Access to funds scores how many and which ways you can withdraw and deposit funds from a savings account.
Additional savings tools include features such as sub-accounts, roundup savings or other automatic savings features.
Bankrate does not currently track additional product details for this bank.
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