Fifth Third Bank Bank Review
About the Bank
Fifth Third Bank is a community bank serving individuals, businesses and communities in 10 states, through more than 1,200 full-service locations. The bank has a strong presence in midwestern states like Ohio, Indiana and Illinois, while also providing services along the East Coast in North Carolina, Georgia and Florida.
Like other community banks, Fifth Third Bank is committed to improving lives in their local communities. One of the ways they do that is by offering financial products designed to fit every budget and lifestyle.
Checking customers, for instance, can choose from:
- Express Banking: No monthly fee but you do not get check writing or check deposits at ATMs (you can use mobile check deposit)
- Momentum Checking: No monthly fee and no overdraft protection fees
- Preferred Checking: Premium checking with perks such as secondary accounts, better loan rates, and more
There are also specialized checking accounts available for high school and college students, members of the military and their families, and banking customers who need a simplified checking account with no credit score requirement. These accounts feature a variety of benefits, such as no monthly maintenance fees, special VA home loan rates for military members and discounted fees on select account services.
Fifth Third Bank is also dedicated to helping customers grow their savings. Momentum Savings is a basic savings account, while the Relationship Money Market account offers relationship rates when you have an eligible Fifth Third checking account. Additional savings options include 529 accounts and CDs for college savings, traditional CD accounts for short- and long-term savings goals and minor savings accounts for kids under 18.
Fifth Third Bank may be a smaller bank compared to some of the nation’s big banks but it doesn’t skimp on online or mobile banking features. The mobile banking app allows you to do everything you need to manage your money, including making transfers, scheduling bill payments, viewing statements and depositing checks with a snap through mobile deposit.
The bank offers a special program for checking customers who are paying down student loans. Fifth Third Momentum tracks your debit card purchases and rounds up transactions, based on your preferences. You link an eligible student loan servicer account through the Fifth Third Momentum app, then apply the round-ups from your debit card purchases to your loan balance weekly. That’s a nice perk that you won’t typically find at other banks.