If you thought overdraft fees were a burden on you, imagine how Fifth Third Bancorp felt when reached a settlement in their $9.5 million class-action lawsuit prosecuting them on overdraft fees.

UPDATE: When To Expect The Fifth Third Settlement You’ve Been Waiting For

The Business Journal Digital Network reported that the bank was held responsible for an organizational error in relation to transaction postings. The customer complaints stem from the banks decision to post debit card transactions in order of size as opposed to date of purchase. This method of posting transactions lead many customers to accidently over charge their card.

Customer Legal Rights

A settlement was outlined, but not yet solidified through the United States District Court of the Northern District of Illinois, the organization holdinga hearing for approval. A special website was created to answer questions or direct customers on how to submit a claim.

fifth third overdraft settlement

The website released a statement saying, “On March 16, 2011, the United States District Court for the Northern District of Illinois will hold a hearing to decide whether to give final approval to the Settlement, so that benefits can be issued. Payments will be mailed to Settlement Class Members who submit valid claim forms after the Court grants “final approval” to the Settlement and after any appeals are resolved. It is uncertain when any appeals made will be resolved, and resolving them can take time. Please be patient.”

Those eligible to receive part of the settlement are customers who incurred at least one overdraft fee between the dates of October 21, 2004 and July 1, 2010 in relation to debit card use. Fifth Third Bank customers that are approved can expect to receive up to three times their claim. If you are a Fifth Third Bank customer, you have until May 2, in order to submit a claim to receive money.

The Bank Pleads Innocent

According to The Business Journal, Fifth Third bank released a statement saying they admit to no wrongdoing. Although the bank will not take the blame for the overdraft fees, they also mentioned in the statement that they would like to settle the matter and move forward to preserve the best interest for the company.

With the new financial reform, consumers now have the option to “opt-in” to overdraft fees, hopefully cutting down on the $30 charges for buying a cup of coffee on an empty account. The FDIC went even further than the Fed by introducing new regulations on overdraft programs.

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  • Farfmfallon


  • Sallyhal123

    my husband was charged close to $3000 because they let him use his card for a month w/ no $ in there!! he was charged $33 even on couple dollar purchase!!!! Ive been saying for years about 53rd. never heard 1 good thing about that bank. we r w/ chase now & we love it!

    • MyBankTracker.com

      Hey Sallyhal, sorry to hear things did not work out at 53. We are glad to hear your experience at Chase has been better. When you have a moment make sure to help our readers by posting a review.

  • Smusleh80

    What about international fees I was Charged sooo Much , Plus Mastercard fees Help me someone

  • Sally

    I got an overdraft fee on $.41 on my debit card. If the money was not available it usually declined, but it didn’t can’t afford this on disability!

  • Alex_guitar360

    fifth third bank charged me 600 dollars, and being a college student the only thing i could do was use a loan service..it took me 6 months and alot of interest to get out of that debt. i would be so happy to receive my own money back

  • Dawnadams1944

    They were robbers and they knew it. All banks think that they can get rich off of their customers. It has gotten to the point where all Americans should think about another avenue to deal with their money. Banks make a fortune off of customers while they use your money.

    • guest

      Yes but ROBBERS w/guns will be coming to your house too !! What can one do ????

  • Chet60

    I normally do not comment on anything on any website. But, please, please be aware. Do not do business with Fifth Third Bank. They are extremely dishonest and incompetent. I am waiting for the Feds to shut them down. My mortgage was bought by 5/3 and I was devastated to find out they held my mortgage. To make a long story short, I am praying, yes praying that they are shut down! My husband wanted to open a checking & savings account with them not knowinghhow dirty they are. I told him absolutely not. He is so grateful I keep abreast of what’s going on with 5/3. Again, run as fast as you can from the

  • Gosu

    I’ve been charged over $600 on my student account around 2 years ago. I hope I could get it back and finally start saving up for college =/

  • Ron Barstow

    To bad it doesnt matter. Fifth Third does not have to change a thing as of now. Made a deposite to the atm (cash) that showed my available balance then went to the store and used my card as a debit, money showed as paid immideately in my account. Monday at midnight an insurance payment came out of the account, granted my fault i forgot about it, they paid the insurance first wich cleaned the account out then charged fees for the two debits from the previous day (that i had money to cover) as well as a fee for the insurance since it was $4 short to cover the whole amount. I paid $111 in OD fees instead of the $37. When i asked about the lawsuit they said they did not change anything. Guessing that the fees they collect between now and when they are forced to change there practices will make them enough to cover there costs. WHAT A JOKE. Then you sign up for the class action thinking that they would have to change their practices and you sign saying you will not take further action besides the class action against them. Yes i know I am an idiot.

  • Sarah22

    53 is the worst bank in history. I went in there multiple times to discuss the transactions with my debit card and I was told by a manager that I was wrong and basically that I was stupid. I went in the bank to close my account and I took all the money out and they told me I had to leave it for another day to make sure nothing was pending. So I waited, the next day I went in to close it officially, and I was negative $260 because it just so happens that on that day I was charged by my college that amount. I then had to pay to get out of the negative, plus the overdraft fee itself. The next day I got a letter from my college saying my classes were dropped because they didn’t receive a payment. Now….isn’t that what my overdraft was for? I went back in to ask them why it hadn’t been paid, but had withdrawn from my account and nobody had an explanation. I tried asking them where that money had gone…and they didn’t have an explanation for that either. I ended up paying more money to take back the overdraft fee, because apparently it takes just as much effort to put in an overdraft as it does to take one back out… or so thats the bull$h!t they fed me.
    I let them know they were wrong and yelled so loud they let me close my accounts that day, and I’m hoping I scared off some customers.
    So, as you can imagine seeing this lawsuit made my day.
    I now do business at another bank and couldn’t be happier. ๐Ÿ™‚
    F— You 53rd! =] Serves you right… too bad the punishment isn’t heftier.

    • Luvlyboo06

      They are terrible! Last year my husband and I filed our taxes and expected them to be deposited in a couple of weeks. So we waited and waited…..on September I call IRS and they telle that the money was deposited since April. So my husband and I were puzzled by it, so we then go to the bank and they give us a print out of our account stating that we had spent all of the money in one day! I was outraged and demanded to get our money so try made a couple of calls and they happened to find that there was a mistake and my money had been deposited somewhere else. They are vicious and careless!!

      • mauimike1

        I had the same thing happen. they put my money in some Else’s account and boy everything for weeks’ bounced. but they said they were sorry.I have since moved out of state and don’t have that  proof for the  lawsuit , just a few overdraft fee’s

  • Joyce Marie

    Still..Bank Atlantic in Brandon,Fl.33510 is even worse!!! They saved up over ten transactions til Mon.-although I had overdraft protection,and gave me a slew of overdraft fees..paying nothing.I’m not paying that!!! Guess I’ll look into beginning a class action against them,or just get an atty.

  • Facingeternity


    • Laceface115

      they both were from 53? i am still waiting for something to come, I was told that my direct deposit paychecks (from their bank no less) werent clearing until saturday (paydays were on Fridays) even though when i would check my balance and they let me have access to my money and then told me it technically “wasnt” there until Saturdays I lost 2 $600 paychecks back to back from overdraft fees ๐Ÿ™ they are terrible and at this point I need some good news but now I’m afraid I wont get it. And both of the checks you recieved didnt even cover 1 overdraft charge…great not only did we get screwed by the bank now we can look forward to getting screwed by the lawyers too??? yippee

    • Lvinesiamnow

      they said this was for the settlement? i got an email a few days ago stating that no money has been paid out so hopefully this is for something else….

      • floridavolleyball

        I’m just wondering why you (Lvinesiamnow) got an email because I’ve received nothing from them.  Not very informative that is for sure.

  • MzTricia

    fifth third charge patricia hawkins over fee.s for three years even when her account stayed in a positive statics, they charge for every transaction  including dedt and credits and other purchases over charge in fees and when i told them about in they would not credit my account or give me my money back they kept on charging me me fees.             sign PATRICIA A HAWKINS.

  • Vpennington2000

    oh gee, I think any crook feels bad when he gets caught and has to pay for his crime. Think about the people that were living pay check to pay check being robed by the crooks in the bank. I think the people that were involved in cheating people should be in jail like any other crook.

  • Drakethedog623

    I also have had problems with 53rd.They are still are messing with peoples accounts!!! It took them 7 days to put an direct deposit into my account.And if a auto bill was coming out of my account they would take a debit out before the atuo pay was paid and the bal onlIine said something totally different!!!! I also tranfered some money before the cut off time and they told me t was made the next morning.So they returned one of my bills!!! I HAVE TOOK ALL MY MONEY OUT!!Now iam at a credit union:)I hope people listen to all these e-mails:)

  • Muralsbysidney

    I am with many of you. What a terrible bank. I also suffered due to there approach to handling deposit & expenses. Not even the head supervisors returned phone calls.. even though where were promised there error would be corrected. They went from $ 60 in overdrafts to over $900.  yessss $900.00 while they promised they would fix the errors. Everyday we had interests, daily negative charges etc. What a nightmare!!!!!!!!!!!!!!! This is a terrible bank!!!!

    • Edevoy1

      my name is bruce ,and I haven`t heard a word about anything  I sent my paper work in and that`s it have you been sen anything or do you have a number that I can call and speak to someone.

  • Beccason1

    I ask the manger at the xenia ohio 53rd y they charge so much and she had balls enough to say thats how they make money wow i thought it was my money i put it in the bank so no one would rob me lol that didnt work out cause they rob you

    • Edevoy1

      You are right ,they robbed the hell out of me.not just a lousy $100, but more like a couple of thousand,I`am really glad sombody  took some action.

      • Todd

        still nothing     they got me for 1000 bucks

        • Sweden Twin

          I have not gotten anything, yet, either. They got me for $1,400.00. I was a single parent at the time with two kids. It was hell…

          • Phillipglenn24

            amen they took two months worth of direct deposits at$700.00 plus and then said i couldnt close my account cause i owed them for overdraft fees !!!!!!!    how about that ?

  • Copples2000

    does any one know if and when thet r going to start paying and it what order.  Last word i got was will be over January 26, 2012.  Seems like when big business wants there money they get it right away, little people always as to wait

    • Marina

      Hi There, 

      Just wondering, when you say over January 26, 2012, did the representative say that’s their deadline to submit payments?

  • guest

    yes i have heard nada and need the website. They crashed my/mothers account, can’t even begin. my mother was having small strokes(still walking,talking etc. ) but her mind wasn’t functioning. long story-short-went to bank (small town) clued them in she was to have access to NO MONEY or debit chargesw/out my approval !!! Well over $3000. in bounces in 1wk. after my trip there and reassurance they would deny her all access. She has since died and I can’t open a bank account because of them turning me over to bill collectors. Have to pay my bills w/money orders!! I now cannot open a bank account,have been black-listed !! i had NEVER bounced a check in my life !!! My name was on my Mothers acct. they have attacked my credit for pymnt. Not even my personal bank !Now I can’t even find out if my claim was accepted! anyone out there w/ info.???. debiamiam@comcast .net

    • Abaiah

      I have since moved and I sent an email with my new address and received a prompt response. Hopefully they will pay us soon, as they got me for several hundred dollars.

      • Marina

        Hi Abaiah,

        Did the specify any sort of a payment plan with you when they got in contact with you?

  • Roster1964

    I sent all papers necessary to be in this lawsuit settlement as I was charged hundreds of dollars in fees in error. Please -let me know who to contact as I have rec’d nothing thus far thank you

  • Roster1964

     Hello- anyone with information regarding this settlement -pls place a notice here online for all of us-I was taken to the cleaners for several years re:this bank’s shenanigans- Lots of money was wrongly collected from my checking account, not to mention the embarrassment. They lost the lawsuit-thats says it all.  Pls -direct us to receiving our entitlement online  THX

  • Michael Goolsby

    I was party in a lawsuit against 5/3 2 or 3 years ago, it was won and I received about $70.00 out of over a 300 lost in OD fees. Now I have a lawyer after trying to collect on 1000.00 in overdraft fees when I have not used that account since 1999.