MyBankTracker rated Fifth Third Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
The amount of time it takes them to process simple loan payments is ridiculous; it sometimes takes 2-3 WEEKS from the date I mail my payment to the time it is processed and then - uh oh - now I have a late payment fee.
The first couple of times this happened I thought it could be a US mail problem, but this happens every month! I mailed January's payment on December 27th and it has still not been processed and they claim they haven't received it yet!
(I don't have this problem with any other creditor, by the way.)
Customer service recommends that I do direct deposit, but why would I let a bank that can't even process a simple payment on time put their hands into my pocket?
RUN, don't walk away from this bank unless you want to constantly be worried that they "haven't received your payment".
I have been banking with 5th 3rd for at least 10 years. I have found that they look for methods to accrue fees on your accounts. Today was the latest attempt; I logged into the bank at 1 am and noticed that it showed a positive balance over $300.00, to be safe I moved $630.00 from savings to assure an adequate balance to cover any outstanding charges. I wake up to find they have charge me $148.00 in over draft fees. When I called and questioned this I was informed that it was not relevant that I showed a positive balance when I transferred money, they would take the fees anyway. When I pointed out that I was on disability and a fixed income and I had made the transfer in good faith to avoid possible conflicts, they offered to eliminate 1/2 of the fees. When I questioned further and pointed out the timing, I was informed that it didn't matter. I have determined that the bank cares only for profit and not for the customer, I and will be changing banks as soon as possible.