Fifth Third Bank Review: Premier Banking Services in the Midwest Region
Written by
Caitlyn Moorhead
Edited by
Elizabeth Constantineau
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Enjoy early direct deposits and no monthly fees with Fifth Third's Momentum Checking.
Fifth Third Bank has a robust product selection, including specialized checking and savings options to access your funds. If you're looking for a single bank for all your needs and live in Fifth Third's coverage area, you'll want to take a look.
Fifth Third is best for those looking for a bank where you can have your checking, savings, credit cards, college funds, retirement and investment accounts all in one place. Fifth Third Bank is so good at what it does that GOBankingRates awarded it eight medals for Best Banks by State for 2025 including Gold for Ohio, Indiana and Michigan, Silver for Florida, Illinois, Kentucky and North Carolina and Bronze for Tennessee.Â
Fifth Third Bank Checking Accounts
Fifth Third Bank offers several checking accounts to choose from if you are looking for a new daily banking account.
- Momentum Checking is a free checking account with no minimum balance required to open or maintain the account.
- With Momentum Checking, you’ll have access to early direct deposits and you can avoid overdraft fees with Fifth Third Bank’s Extra Time feature.
- Fifth Third Bank also has an ABLE Checking, Military Checking and Student Checking account options.
- Consumers seeking a top-tier premium checking account will find it in Fifth Third’s Preferred Checking account — get a competitive annual percentage yield, regardless of balance.Â
- The Preferred Checking account provides fee-free access to all ATMs in the U.S., with a limit of 10 transactions monthly, plus access to a dedicated customer service line anytime.
- Fifth Third also offers specialized checking accounts for students, military members and those with disabilities.
- Monthly maintenance fees can be waived for the Preferred account with deposit or balance qualifications.
- Eligible Fifth Third checking account customers can set up MyAdvance, which provides a cash advance on your future direct deposit for a small fee.
Best For
Mobile App
No Minimum Deposit
Low Monthly Fees
Banking in Michigan
Banking in Ohio
Early Direct Deposits
Fifth Third Momentum Checking offers fee-free banking with no minimum balance requirements. Enjoy early direct deposits and tools like Extra Time to avoid overdraft fees.
Fees
$0 to $25 monthly — can be waived
APY
Up to
Min Opening
$0
Pros
- Fifth Third Momentum Checking has no minimum balance requirements or monthly fees
- Preferred Checking has identity theft monitoring options
- Over 40,000 fee-free ATMs
Cons
- Some checking accounts don’t offer interest
- High overdraft feesÂ
Quick Take
Fifth Third Bank has you covered whether you are looking to open an account with free checking or interest earning options.Â
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Fifth Third Bank Savings Accounts
The Fifth Third Bank Momentum Savings account is built for most savings needs. Here are a few factors to consider:Â
- Momentum Savings is free if you link a Fifth Third checking account, maintain a balance of at least $500, are under 18 or are enrolled in military banking. Otherwise, the service fee is $5 per month.Â
- The interest rate is lower compared to leading competitors, so those looking for higher rates will want to look elsewhere.
- Fifth Third also has several specialty savings accounts, including Kids Savings, Health Savings and 529 Savings.
- Health Savings and 529 Savings accounts offer special tax advantages to clients.
- While the features of Fifth Third’s savings accounts are in line with competitors, the interest rates are lower. You can easily earn more interest through a high-yield savings account from another bank.
Best For
Mobile App
No Minimum Deposit
Low Monthly Fees
Banking in Michigan
Banking in Ohio
No Minimum Deposit
Fifth Third Momentum Savings offers no minimum deposit and waives monthly fees when linked to a Fifth Third checking account or with qualifying balances. A solid choice for tracking and reaching your savings goals, though the APY is lower than some competitors.
Fees
$5 monthly
APY
Min Opening
$0
Pros
- No minimum opening deposit requirement
- Included tools to track your savings progress
Cons
- Lower APY than other options elsewhere
Quick Take
Fifth Third Momentum Savings is a straightforward account option that automatically tracks your finances, helping you to achieve your financial goals.
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Fifth Third Bank CD Accounts
Fifth Third Bank offers a wide variety of certificates of deposit. Here is everything you need to know:Â
- Fifth Third Bank offers Promotional CDs, Short-term Standard CDs, Long-term Standard CDs and 529 CDs.
- Term lengths range from seven days to 144 months.Â
- The Long-term Standard CDs and 529 CDs have a $500 minimum deposit to open.
- The Short-term Standard CDs and Promotional CDs have a $5,000 minimum deposit to open.
Best For
Mobile App
No Minimum Deposit
Low Monthly Fees
Banking in Michigan
Banking in Ohio
Terms Ranging From 7 Days to 144 Months
Fifth Third Bank CDs offer a range of term lengths and deposit options, starting at just $500 for long-term CDs.
Fees
Early withdrawal penalties may apply
APY
Up to
Min Opening
$500 to $5,000
Pros
- Low minimum deposit requirements for some CD types
- A wide variety of CD rates and term lengths
Cons
- Lower rates than many online banks
Quick Take
Fifth Third Bank offers a large selection of CDs that provide a low-risk way to save. Their competitive rates can help boost your savings, whether you’re planning for the short term or the long run.
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Fifth Third Bank Money Market Accounts
The Fifth Third Relationship Money Market account combines features of a checking and savings account, including check writing and earning interest. Here are some considerations if you are thinking of opening an MMA with Fifth Third Bank:
- Interest rates for the account are relatively low, so consider shopping around for better options.
- The monthly service charge is waived if you have any of the Fifth Third Checking accounts except Express Banking.Â
- There is no minimum opening deposit required, although a $500 minimum balance is another way to avoid the monthly service fee.
- There may be limits on withdrawals. For more transaction activity, a checking and savings account combination from Fifth Third would be less restrictive.
Best For
Mobile App
No Minimum Deposit
Low Monthly Fees
Banking in Michigan
Banking in Ohio
Flexible Access to Funds
The Fifth Third Relationship Money Market account combines savings with check-writing privileges, offering flexibility for occasional transactions. Avoid monthly fees by maintaining a $500 balance or linking a qualifying Fifth Third checking account.
Fees
$5 monthly
APY
Up to
Min Opening
$0
Pros
- Comes with check writing privilegesÂ
- Overdraft protection if linked to a Fifth Third Momentum Checking account
Cons
- Lower APY than leading competitorsÂ
- There is a monthly fee unless you meet the requirements to waive
Quick Take
Money market accounts offer a convenient way to elevate your savings while allowing you to pay occasional bills or write checks as needed.
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Banking Experience
There are several benefits to banking with Fifth Third Bank. Here are a few.
Online Options
Fifth Third Bank has online banking and a mobile app that lets you manage your accounts on the go. Pay bills, view statements, deposit checks, transfer money and more — anytime, anywhere. The mobile app has 4.7 out of 5 stars on the Google Play and Apple App Store.
Customers of Fifth Third Bank can send and receive money electronically with Zelle through the mobile app, even if the other party uses a different bank.
Customer Service
If you need to reach Fifth Third Bank, you can phone for help by dialing 1-800-972-3030. Customer service hours are Monday through Friday from 8 a.m. to 6 p.m. EST and Saturday from 10 a.m. to 4 p.m. EST. You can also log in to your account online to chat with a digital assistant 24/7.
If you prefer to speak with someone face to face, you can schedule an appointment on the bank’s website.
Comparable Regional Bank Options
Fifth Third Bank stacks up well with the competition, especially if you’re looking for a bank where you can have all your accounts in one place.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $25 monthly — can be waived
$10 to $25
$0 or $12, with options to waive
APY
APY
APY
Up to
N/A
N/A
Min Opening
Min Opening
Min Opening
$0
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5 monthly
$4 to $10
$5 monthly, waivable
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$0
$50
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties may apply
No monthly service fee
No monthly service fee
APY
APY
APY
Up to
on 5-month promo CD
Up to
Min Opening
Min Opening
Min Opening
$500 to $5,000
$1,000
$1,000
Fifth Third Bank vs. Huntington
Huntington Bank offers a wide variety of banking products and features, including checking accounts with a 24-hour grace period for overdrafts. It also provides a variety of money market accounts for clients seeking interest-bearing options.Â
However, Fifth Third Bank stands out for clients seeking a premium checking account with a dedicated banker and on-demand customer service team.
Fifth Third Bank vs. Chase
Chase has over 4,700 branches and 15,000 ATMs nationwide, so you can almost always find one nearby.
If you’re located in Fifth Third Bank’s service area — Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee and West Virginia — however, you’ll find more of a hometown bank feel.
Fifth Third Bank vs. KeyBank
Fifth Third Bank won Gold for Best Bank in Ohio for 2025, and KeyBank got the Silver — both are top-tier banking options. However, KeyBank’s primary strength lies in its checking accounts with choices that include basic fee-free checking and an online-only option as well as relationship accounts. These are great options but Fifth Third does have a bit more checking variety.
Final Take
Fifth Third Bank’s specialty products make it easy for those with specific banking needs to get what they want. It has products specifically for minors, students, military members, college and retirement savers, and those with disabilities who wish to save without jeopardizing their eligibility for government assistance.
Fifth Third Bank is a good choice if you want to have all your accounts at one bank and live in the bank’s coverage area — or don’t mind banking online or on the mobile app. GOBankingRates gave it the Gold in Indiana, Michigan and Ohio, the Silver in Florida, Illinois, Kentucky and North Carolina and the Bronze in Tennessee for Best Banks by State 2025.
Fifth Third Bank FAQ
Here are some of the most commonly asked questions about Fifth Third Bank:- Does Fifth Third Bank have fees?
- Yes, some products, services and accounts come with fees at Fifth Third Bank. You'll find that some monthly service fees can be waived if you maintain the required minimum balance.
- Does Fifth Third Bank waive ATM fees?
- Fifth Third Bank has over 40,000 fee-free ATMs in its network. However, when you use an ATM not owned by or partnered with the bank, you may be charged a fee by the operator or any network used. You may also be charged a fee for a balance inquiry even if you do not complete a fund transfer.
- How many Fifth Third Bank locations are there?
- Fifth Third Bank has over 1,100 branches in 11 states including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee and West Virginia.
- What financial services does Fifth Third Bank offer?
- Fifth Third Bank offers everything from personal loans to investing options. It has a wide range of account options for checking, savings, CDs and money markets.
- What types of accounts does Fifth Third Bank provide?
- Fifth Third Bank offers checking, savings, CDs and money market accounts.
Daria Uhlig, Cynthia Bowman, Karen Doyle and Virginia Anderson contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
