What Are Fifth Third Bank’s Checking and Savings Accounts Like?

Fifth Third Bank, also known as 5/3 Bank, is a regional banking corporation with headquarters in Cincinnati, Ohio. As of September 2015, it has $139.45 billion in assets and 18,311 employees in 1,250 branches. Fifth Third has offices in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, Missouri, Georgia and North Carolina.

Fifth Third Bank has been in business since 1858, has a five-star rating with Bauer Financial, an A rating with the BBB, and it’s Federal Reserve Member.

Checking Account
Fifth Third Bank’s three principal checking accounts are Fifth Third Essential Checking, Fifth Third Enhanced Checking, and Fifth Third Preferred Checking.
Fifth Third Essential Checking includes a debit card, mobile banking, and waives service charges for a linked savings account. There is a $11 monthly fee, but this fee can be reduced to $8, if you have a $500 or more direct deposit. The fee is completely waived if you have a combined balance (checking and savings) of $1,500 or you spend $500 a month on your credit card. This account does not pay interest.

Fifth Third Enhanced checking pays interest, albeit 0.01% APY. It also allows for better rates on Fifth Third CDs, and reduces the rates on Fifth Third loans. The fee is $20, but it is waived completely if you have a combined balance of $20,000 or you have monthly direct deposits of $5,000 or more.
Fifth Third Preferred Checking provides higher interest rates, no ATM fees in the U.S., up to 10 transactions per month, and a World Debit Mastercard. The account also includes an identity theft protection service. Customers don’t get charged for international transactions, receive bonus rewards on dining, travel and gas, and includes investment and insurance benefits. The account also includes a complimentary checks, notary services, money orders and cashiers checks. The monthly service fee is

$25. This fee is waived if you have a combined balance of $100,000 and a minimum deposit of $50.
Savings Account
There are two main saving accounts at Fifth Third: Fifth Third Goal Setter Savings and Fifth Third Relationship Savings.
The Fifth Third Goal Setter Savings is a simpe account that includes competitive interest rates, a bonus to customers who meet their goal account. The account has a $5 fee, but this is waived if you have a Fifth Third Checking Account or maintain a monthly balance of $500.
Fifth Third Relationship Savings allows you to earn interest and earn relationship interest rate when you keep your money in the account. This account provides higher interest rates, relationship bonus, and easy access to a local Fifth Third ATM. There is a $5 monthly fee, but this is cancelled if you own stock in Fifth Third, maintain a $500 monthly maintenance fee.

What Are The Advantages And Disadvantages of Fifth Third Bank’s Checking And Savings Accounts?

We love this about Fifth Third Bank:

  • Easy to navigate website
  • Great variety of accounts
  • Some clients receive free Access to ATM machines worldwide.

We don’t like this about Fifth Third Bank:

  • Low-interest rates
  • Access to national and intornational shares and CD
  • Branch
  • Online
  • Savings Interest Rate
  • Checking Interest Rate
  • Bauer Financial A+/A Rating
  • CDs
  • Checking
  • IRAs
  • Savings
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0 votes

We found them very friendly, always smiling, attentive and always willing to help. Oftentimes more than one person tries to help. Online banking is also easy to use.

0 votes

The staff here is very helpful (even helped me count my change on one occasion). Normally I go to a branch near my office but whenever it is more convenient for me to go here I never hesitate as I always have a very positive experience.

0 votes

I went in to cash my payroll check and with a little help from Mimie, decided to open a checking account. She was very nice, professional, and smiled. I noticed that both, her and the other teller, greeted incoming patrons by name. In my opinion, that's personal banking at it's best.

0 votes

There is nothing that the bank will not do for me. Never had a bank so kind and gentle. Called today and I can go in this week and all will be taken care of

0 votes

Will not say what I went in for, but the Branch Manager Jason, was exceedingly professional and friendly...I was thinking, the tellers must enjoy their job, with such leadership present!!

0 votes

Friendliest staff and best service Manager and loan officers really care! They have helped me out of a bind and provided a loan when no one else would. They bring meaning to a "community" bank!

0 votes

I've banked here for a decade and they've always done the right things for me. my branch has always been polite, courteous, helpful and friendly.

0 votes

always found them to be professional and extremely customer friendly. From our Savings/Checking to our Safe Deposit Box, the people that work here have proven to be of the highest caliber and quality.

0 votes

We have been banking with Compass Bank for several years now. We initially opened our bank account because we needed a safety deposit box and the location at Four Points was ideal for us

0 votes

A very friendly bank with a full line of useful financial services for the business person or individuals, like myself, currently living in retirement. The staff is willing to accommodate any or all of your financial needs in a courteous, timely matter.

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