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  Fifth Third Essential Checking

Fifth Third Essential Checking

in Checking Accounts from Fifth Third Bank · Member fdic

Unaffiliated

Fifth Third Essential Checking

Unaffiliated

in Checking Accounts from Fifth Third Bank · Member FDIC

SuperMoney Net Recommendation Score -38

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -38, equating to 2.2 on a 5 point rating scale.

-38

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

2 users recommend
1 user is unsure
5 users don't recommend
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Highlights
Community Rating Mostly not recommended
Monthly Fee $0 - $11
ATM Fee: Out-of-Network $2.75
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0.01%
Number of Reviews 8

Fifth Third Essential Checking Review

Fifth Third Essential Checking is offered by Fifth Third Bank, a bank founded in 1858 and based in Cincinnati, OH. Fifth Third Essential Checking is available in 10 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • Charges a monthly fee. This account charges a monthly service fee of up to $11, but there are ways to waive the fee.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Fifth Third Essential Checking does not charge fees on ATM transactions within its network but there is a fee of up to $2.75 for out-of-network ATM transactions.
  • Free bill pay. Pay your bills to practically anyone in the United States through Fifth Third Bank.
  • Hard credit pull. Fifth Third Bank may require a hard pull on your credit report to open a checking account.
Fifth Third Essential Checking Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • No signup bonus.
  • Only available in 10 states.
  • Higher than average wire transfer fees.
  • Monthly service charge (if minimums are not met).
  • Charges a higher than average fee on out-of-network ATM transactions.
Fifth Third Essential Checking FAQ

Are checking accounts from Fifth Third Bank federally insured?

Yes, your Fifth Third Bank checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Fifth Third Essential Checking offer?

Fifth Third Essential Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.01%

Fifth Third Essential Checking offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

What are the account minimums for Fifth Third Essential Checking?

Fifth Third Essential Checking does not require a minimum initial deposit.

Fifth Third Essential Checking Account Minimums
Description Amount
Minimum Opening Deposit $0
Minimum Combined Balance to Avoid Monthly Service Fee $1,500
Minimum Direct Deposit to Avoid Monthly Service Fee $500

What fees does Fifth Third Essential Checking charge?

This account charges a monthly service fee of up to $11.

Fifth Third Essential Checking Fees
Description
ATM Fee: In-Network $0
Check Copy $5
Check Image Service $2
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $11
NSF Fee $37
Online Bill Pay Fee $0
Overdraft Item Fee $37
Overdraft Protection Fee (per transfer) $12
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $15
Returned Deposit Fee (International) $15
Stop Payment Fee $33
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $85
ATM Fee: Out-of-Network $2.75

Does Fifth Third Essential Checking charge overdraft fees?

Yes, Fifth Third Essential Checking charges a $37 fee for every overdraft fee.

Fifth Third Essential Checking offers overdraft protection at a cost of $12 per transaction.

What features and perks does Fifth Third Essential Checking offer?

This account includes the following features:

  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - Fifth Third Essential Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Fifth Third Essential Checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

How do people rate the customer service and user experience of Fifth Third Essential Checking?

Overall, Fifth Third Essential Checking is mostly not recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 10 states
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • North Carolina
  • Ohio
  • Tennessee
  • West Virginia

Feature Breakdown

Minimum Combined Balance to Avoid Monthly Fee $1,500
Minimum Direct Deposit to Avoid Monthly Fee $500
Minimum Opening Deposit Starting at $0
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Online Bill Pay Fee $0
Check Copy $5
Check Image Service $2
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $11
NSF Fee $37
Overdraft Item Fee $37
Overdraft Protection Fee (per transfer) $12
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $15
Returned Deposit Fee (International) $15
Stop Payment Fee $33
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $85
ATM Fee: Out-of-Network $2.75
Bank Account Features
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Debit Card
  • FDIC Member
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • IRAs
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No ATM Fees
APY (Annual Percentage Yield) 0.01%

Fifth Third Essential Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -38, equating to 2.2 on a 5 point rating scale.

-38

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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