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".
We unfortunately used 5/3 for our mortgage. This is our 7th mortgage and by far the worst. Rates were misquoted, communication horrible, and customer service appalling. We're still waiting for s credit for points that we had in writing would not be applied.
Our experience setting up a checking account was even worse.
I would only recommend 5/3 to my worst of enemies.