How To Avoid Fifth Third Bank Monthly Maintenance Fees

Bank fees can cut into your funds, and financial goals.

Maintenance fees are never fun to pay, but many banks offer ways around them. Fifth Third Bank’s monthly maintenance fees can be avoided in several ways, such as by maintaining certain account balances or even linking up your checking account with other Fifth Third accounts. In this guide, you’ll learn:

What Are Fifth Third Bank Checking Account Fees?

The Fifth Third Bank monthly checking account fee, which is a service charge, can run you up to $25. But Fifth Third waives this fee for specialized accounts.

Fifth Third Bank Checking Accounts
Account Monthly Service Fee Earns Interest
Essential Checking $8-$11 No
Enhanced Checking $20 Yes
Preferred Checking $25 Yes
Student Banking N/A No
Military Checking N/A No
Express Banking N/A No
ABLE Checking $2 Yes
Information accurate as of April 22, 2020

Having a direct deposit of $500 a month will reduce your Essential Checking account service fee from $11 to $8. Also, Fifth Third’s specialized checking accounts are made for a specific cohort of people. For example, the ABLE Checking is designed for people with disabilities.

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Here are other common fees Fifth Third can charge you:

Fifth Third Bank Checking Account Fees 
Fee Cost
Out-of-Network ATM In U.S.: $2.75
Outside the U.S.: $5
Overdraft $37
Foreign Exchange Rate 0.20% of transaction
Wire Transfers $30-$80
Stop Payment $33
Debit Card Replacement $30 for rush delivery
Information accurate as of April 21, 2020

Wire transfer charges depend on whether the wire is incoming or outgoing and whether it’s foreign or domestic.

Check Out: Best Checking Accounts of 2020

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What Are Fifth Third Bank Savings Account Fees?

Savings account maintenance fees, which range from $0 to $5 depending on the account, are generally much cheaper than their checking account counterparts. Here are Fifth Third’s savings accounts and corresponding fees:

Fifth Third Bank Savings Accounts
Account Monthly Service Fee APY
Goal Setter Savings $5 0.01%
Relationship Savings $5 0.02%
Minor Savings $0 0.01-0.02%
Health Savings $0-$3.50 depending on balance Varies
Information accurate as of April 22, 2020

You won’t pay more than $5, and both checking and savings accounts have ways to eliminate the monthly fee.

Also See: Best Savings Accounts of 2020

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Fifth Third Bank Monthly Maintenance Fee
How To Avoid Fifth Third Bank Monthly Maintenance Fees

Fifth Third lets customers avoid paying a service fee for its accounts if they meet certain requirements:

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Essential Checking

  • Maintain a combined balance of $1,500 in your Fifth Third accounts.
  • Spend at least $500 per month with your Fifth Third credit card.
  • Have a Fifth Third loan or line of credit with an outstanding principal balance.
  • Be a current or former military member with monthly direct deposits of $500 or more.
  • Be a student with valid ID.
  • Have a Fifth Third Business Premium or Elite Checking account.

Enhanced Checking

  • Reach a combined balance of $20,000 with your Fifth Third accounts at any time during the billing cycle.
  • Have monthly direct deposits totaling $5,000 or more.

Preferred Checking

  • Reach a combined total of $100,000 in your Fifth Third accounts at any time during the billing cycle.

ABLE Checking

  • Have a monthly balance of $250 or more.
  • Sign up for paperless statements.

Savings account fee waivers work much in the same way as checking account fee waivers, usually relying on account balances or concurrent enrollments. You can get your savings account service fees waived in the following ways:

Goal Setter

  • Open a new account — the fee is waived for the first six months.
  • Open a Fifth Third checking account or Express Banking account.
  • Maintain a monthly balance of $500 or more.
  • Be under the age of 18.
  • Enroll in Fifth Third military banking, if applicable.

Relationship Savings

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  • Have all owners of your savings account listed as owners of your Fifth Third checking account.
  • Maintain a monthly balance of $500 or more.
  • Have someone under 18 listed as owner of the account.
  • Enroll in Fifth Third military banking, if applicable.

HSA

  • The monthly service fee is tiered, based on the account balance:
    • $500 or less: $3.50
    • $500.01 to $2,000: $3.00
    • $2,000.01 to $3,000: $2.50
    • $3,000.01 to $4,000: $2.00
    • $4,000.01 or more: $0

The easiest way to avoid a savings account service fee is to open a checking account.

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How To Avoid Fifth Third Bank Overdraft Fees

Overdraft fees are supposed to act as deterrents for withdrawing on an account with insufficient funds. But Fifth Third charges a hefty $37 fee for overdrawing your account. In addition to not spending the money and paying close attention to your account balance, you can avoid this Fifth Third bank fee by taking advantage of overdraft protection. Fifth Third will link your bank savings account, credit card or line of credit with your checking account to cover insufficient funds. You will still pay a fee every time overdraft protection funds are used in a transaction, but it’s $12 instead of $37.

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Fifth Third’s ABLE checking account does not have overdraft fees.

Read More: How To Avoid Overdraft Fees

How To Avoid Fifth Third Bank ATM Fees

Fifth Third has a network of 50,000 fee-free ATMs nationwide. Use its ATM locator to find one so you can avoid paying the $2.75 out-of-network fee. Student and military checking accounts get a set number of free out-of-network ATM transactions each month.

Related: Guide to Daily ATM Withdrawal Limits and Debit Purchase Limits

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How Fifth Third Bank’s Account Fees Compare With Other Banks

It’s always a good idea to explore your options before opening a checking account. In the event you expect to run into fees down the line, how can you mitigate how much you’ll pay? Here’s an overview of how Fifth Third’s fees compare with the big names in banking.

Fees at Fifth Third Bank and Other Banks
Fee Fifth Third Bank Bank of America Chase Citibank U.S. Bank Wells Fargo
Monthly Maintenance Up to $25 Up to $25 Up to $25 Up to $30 Up to $24.95 Up to $30
Out-of-Network ATM Withdrawal In U.S.: $2.75

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Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S. and Puerto Rico: Additional 3%

In U.S.: $2.50

Outside U.S.: 3% of transaction

In U.S.: $2.50

Outside U.S.: $5

Overdraft $37 $35 $34 $34 $36 $35
Excess Transactions $5 $10 $5 No fee, but Citibank will restrict or close your account if you exceed the withdrawal limit three times $15 $15
Stop Payment $33 $30 $30, or $25 if done online or phone $30 $35 $31
Wire Transfer $30-$80 Varies $15-$50 $10-$35 $20-$50 Varies
International Debit Purchase 3% of transaction 3% of transaction 3% of transaction 3% of transaction 3% of transaction 3% of transaction
Card Replacement Free; $30 for rush delivery $5; $15 for rush delivery Free; $5 for rush delivery Free; $6 for rush delivery Free; $25 for rush delivery Free
Information accurate as of April 22, 2020

Fifth Third’s fees are generally as high or higher than what you would pay at a big bank. Its ATM, overdraft and stop payment fees are all a bit more expensive than what you get charged at other banks.

Check Out: Making This Mistake at Your Bank Can Cost You $10,221

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Getting the Most Out of Your Fifth Third Bank Account

Military members might get the most out of signing up for Fifth Third accounts, as the monthly maintenance fees are waived for military members. You can also take advantage of Fifth Third’s slightly higher Relationship Savings rate by getting your significant other in on the action. But above all else, you can get the most out of your Fifth Third account by being mindful of your account balance.

Unfortunately, Fifth Third’s website is not currently offering any promotions for new customers.

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This content is not provided by Fifth Third Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Fifth Third Bank.

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About the Author

Sean Dennison

Sean joined the GOBankingRates team in 2018, bringing with him several years of experience with both military and collegiate writing and editing experience. Sean’s first foray into writing happened when he enlisted in the Marines, with the occupational specialty of combat correspondent. He covered military affairs both in garrison and internationally when he deployed to Afghanistan. After finishing his enlistment, he completed his BA in English at UC Berkeley, eventually moving to Southern California.

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