You may want to consider Fifth Third Bank if you live in the Southeast or Midwest. It has a strong Fifth Third Bank Fifth Third Momentum Checking with several overdraft protection options and a good Fifth Third Bank Fifth Third Bank Standard CD. You'll earn the best CD rates at online banks, though.
Fifth Third Momentum Savings Account
$5 monthly service fee
0.01%
$0
- No minimum opening deposit
- Possible to waive monthly service fee
- Low APY
- $5 monthly service fee
- Over 1,087 branches in 11 states in the Southeast and Midwest
- Avoid the $5 monthly service fee by having a Fifth Third checking account (excluding Fifth Third Express Banking), OR maintaining at least $500 in your account monthly, OR enrolling in Fifth Third Military Banking
- Interest compounded daily, deposited monthly
- Member FDIC
The Fifth Third Momentum Savings Account may be worthwhile if you're able to waive the monthly service fee. You'll need to have a Fifth Third checking account (excluding Fifth Third Express Banking), an account balance of at least $500, or be enrolled in Fifth Third Military Banking.
Otherwise, our best high-yield savings accounts guide has suitable fee-free options.
Fifth Third Momentum Checking
no monthly service fee
None
$0
$300
- No monthly service charge
- Early direct deposit
- Unlimited check writing
- Free overdraft protection
- Fifth Third Extra Time waives some overdraft fees
- $2.75 out-of-network ATM fee
- $37 overdraft fee
You may want to consider Fifth Third Bank if you live in the Southeast or Midwest. It has a strong free checking account with several overdraft protection options and a good range of CDs. You'll earn the best CD rates at online banks, though.
- Earn $300 cash bonus when you make a direct deposit of $2,000 or more within 90 days of account opening (offer expires March 31, 2025)
- Over 1,087 branches in 11 states in the Southeast and Midwest
- Over 40,000 free ATMs through the Allpoint, Presto!, and 7-Eleven ATM networks
- Get free overdraft protection if you link your checking account to a savings account or get a line of credit
- If you don't have overdraft protection, Fifth Third Extra Time waives overdraft fees if you restore your account balance before midnight the following business day
- Member FDIC
The Fifth Third Momentum Checking is a great choice if you don't want to deal with monthly bank maintenance fees.
The bank also offers several ways to avoid overdraft fees. You can get free overdraft protection if you link your checking account to a savings account or get a line credit.
If you don't have overdraft protection, Fifth Third Extra Time is still available. Fifth Third Extra Time is a special feature in the Fifth Third Momentum Checking, where the bank waives overdraft fees if you restore your account balance before midnight ET the next business day.
Fifth Third Bank Standard CD
0.01% to 4.50%
$500 to $5,000
- Variety of CD terms
- Low minimum opening deposit on terms longer than 3 months
- Low early withdrawal penalites
- Low interest rate
- High minimum opening deposit on terms shorter than 3 months
- Over 1,087 branches in 11 states in the Southeast and Midwest
- Terms range from 7 days to years
- $5,000 minimum opening deposit for terms ranging from 7 days to 89 days
- $500 minimum opening deposit for terms ranging from 3 months to 7 years
- Promotional CD term: Earn up to 4.50% APY on a promotional CD if you deposit at least $5,000
- Earn 0.01% APY on standard CD terms
- For terms shorter than 1 year, the early withdrawal penalty is 1% of the amount withdrawn
- For terms between 1 year and 3 years, the early withdrawal penalty is 2% of the amount withdrawn
- For terms between longer than 3 years, the early withdrawal penalty is 3% of the amount withdrawn
- Interest compounded daily, deposited monthly
- Member FDIC
You'll find Fifth Third Bank's Fifth Third Bank Fifth Third Bank Standard CD appealing if you're looking for a variety of terms. The minimum opening deposit is also low for terms between three months and seven years.
The one downside is rates are pretty low overall, with the exception of a three promotional terms.
Fifth Third Bank Relationship Money Market Account
$5 monthly service fee
0.01%
$0
- No minimum opening deposit
- Check writing included
- Possible to waive monthly service fee
- Low interest rate
- No debit or ATM card included
- $5 monthly service fee
- Over 1,087 branches in 11 states in the Southeast and Midwest
- Avoid the $5 monthly service fee by having a Fifth Third checking account (excluding Fifth Third Express Banking), OR maintaining at least $500 in your account monthly, OR enrolling in Fifth Third Military Banking
- Interest compounded daily, deposited monthly
- Member FDIC
The Fifth Third Bank Relationship Money Market Account is a decent money market account if you don't want a high minimum opening deposit and qualify to waive the $5 monthly service fee. It doesn't come with a debit card and pays a low interest rate, though.
How Fifth Third Bank Works
Fifth Third Bank has over 1,087 branches in 11 states in the Southeast and Midwest. You'll find a nearby branch if you live in the following states:
- Florida
- Georgia
- Illinois
- Indiana
- Kentucky
- Michigan
- North Carolina
- Ohio
- South Carolina
- Tennessee
- West Virginia
Customer service is available over the phone or through live chat Monday through Friday from 8:00 a.m. to 6:00 p.m. ET and Saturdays from 10:00 a.m. to 4:00 p.m. ET.
The bank's mobile app has 4.4 out of 5 stars in the Apple Store and 4.1 out of 5 stars in the Google Play Store.
Fifth Third Bank is FDIC insured. Individual bank accounts are secure up to $250,000.
Fifth Third Bank: Pros and Cons
Pros
- Free Fifth Third Momentum® checking account with Fifth Third Extra Time®
- Free overdraft protection
- Possible to waive monthly service fees
- Variety of CD terms
Cons
- Only available in select states in the Midwest and Southeast
- Low savings rates
- Monthly service fees on savings accounts
- No debit card included in money market account
Fifth Third Bank Trustworthiness and BBB Rating
Fifth Third Bank as an A+ rating from the Better Business Bureau. The BBB determines ratings by looking at how a business responds to customer issues, advertises, and handles transparency.
Fifth Third Bank has been involved in one recent public controversy. In 2020, the Consumer Financial Protection Bureau filed a lawsuit that said the bank opened products for customers without their authorization. The CFPB filed an amended complaint in June 2021 that stated by opening these accounts and misleading customers, Fifth Third Bank had violated several federal regulations. The case is still ongoing.
Fifth Third Bank Alternatives
Fifth Third Bank vs. Regions Bank
If you'd like to have a robust branch network, Regions Bank may be more appealing than Fifth Third Bank. Fifth Third Bank has 1,087 branches in 10 states, while Regions Bank has over 1,300 branches in 15 states.
Fifth Third Bank may stand out to you if you want to open bank accounts with $0. Fifth Third Momentum Checking and the Fifth Third Momentum Savings Account do not require a minimum opening deposit.
You might also like Fifth Third Bank if you want a free checking Account. The Regions Bank LifeGreen® Checking Account has a $8 or $11 monthly service fee and you'll need to meet certain requirements to waive the fee.
Fifth Third Bank vs. PNC Bank
Fifth Third Bank might be a stronger contender than PNC Bank if you want to open a checking account without monthly service fees. Its savings account isn't as strong, though. It pays a low rate and has a $5 monthly service fee However, if you already have a Fifth Third Bank checking account, it may be worth exploring.
If you live in the Midwest or Northeast, you likely won't be eligible for the PNC Bank High-Yield Savings Account, the most appealing account. PNC's other savings accounts have monthly maintenance fees if you don't have a certain amount in your account. Ultimately, you might prefer one of the best high-yield savings accounts if you're priority is obtaining a high savings rate and avoiding monthly service fees.
Why You Should Trust Us: How We Reviewed Fifth Third Bank
We rate bank accounts on a scale from one to five stars. For Fifth Third Bank's checking, savings, and money market accounts, we used Personal Finance Insider's bank account ratings methodology. The exact factors we evaluate vary depending on the type of account — for example, we look at overdraft fees for checking accounts and interest rates for savings and money market accounts.
For Fifth Third Banks CDs, we used our CD rating methodology which looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, and the security and ethics of the company.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Business Insider's Fifth Third Bank Overall Rating
| Feature | Rating (out of 5) |
| Checking | 4 |
| Savings | 3.5 |
| CD | 4 |
| Money market | 3.5 |
| Trustworthiness | 4 |
| Total | 3.75 |
