Fifth Third Bank's free checking account has no monthly maintenance fee, but you can incur charges for overdrafts, ATM use outside their network, and certain transactions

Fifth Third Bank offers a checking account with no monthly service charge, which means you won't pay just to hold the account open. However, "free" refers only to the base account fee. Other charges can apply depending on how you use the account and which services you access.

The account itself costs nothing to open or maintain. But if you overdraft your account, use an out-of-network ATM, or request certain services like wire transfers or expedited card replacement, Fifth Third will charge you. Understanding which actions trigger fees helps you avoid unexpected charges.

Key Takeaways

  • Fifth Third's free checking account has no monthly maintenance fee, but overdraft fees, out-of-network ATM fees, and wire transfer fees can still apply.
  • Overdraft protection is available but costs money; opting out prevents overdraft fees but may result in declined transactions instead.
  • Using Fifth Third's own ATM network is free, but out-of-network ATMs typically charge a fee that Fifth Third may also charge you.
  • Paper statements, wire transfers, and stop payments each carry separate fees that vary by service type.
  • Minimum balance requirements and interest rates vary, so confirm the current terms with Fifth Third before opening the account.

Overdraft fees and how to avoid them

If you spend more than your account balance, Fifth Third charges an overdraft fee each time a transaction posts that overdraws your account. This fee applies whether you use your debit card, write a check, or make an ACH transfer. The amount varies and changes periodically, so contact Fifth Third directly for the current overdraft fee.

You can prevent overdraft fees by opting out of overdraft protection. When you opt out, transactions that would overdraft your account are simply declined instead—no fee, but also no purchase. This is the default for debit card and ATM transactions at most banks, but check-writing and ACH transfers may still overdraft unless you explicitly decline coverage for those too.

Alternatively, you can link a savings account or another bank account to your checking account for overdraft protection. If you overdraft, Fifth Third pulls money from the linked account instead. This service may have its own fee, typically lower than an overdraft fee but charged each time it's used.

ATM fees and network access

Fifth Third operates its own ATM network, and withdrawals from Fifth Third ATMs are free. If you use an ATM owned by another bank or a third-party operator, that ATM owner charges a fee—usually $2 to $3 per transaction. Fifth Third may also charge you a fee for using an out-of-network ATM, adding a second charge on top of the ATM operator's fee.

To avoid double fees, use Fifth Third ATMs whenever possible. If you travel frequently or live far from a Fifth Third branch, check whether Fifth Third participates in a shared branching network or ATM alliance that expands your free access. Some checking accounts include reimbursement for out-of-network ATM fees, but Fifth Third's free checking account does not.

Wire transfers, stop payments, and other service fees

Fifth Third charges a fee for outgoing domestic wire transfers and international wire transfers. Stop payment requests on checks also carry a fee. These are one-time charges that apply when you request the service, not recurring monthly fees. The amounts vary by service and change over time, so ask Fifth Third for current pricing before you need these services.

Paper statements, if you request them instead of using online statements, may also incur a fee. Most banks now encourage paperless statements to reduce costs, and Fifth Third's free checking account assumes you'll use online banking. Expedited card replacement, replacement checks, and certified checks are other services that typically carry fees.

Minimum balance requirements and interest

Fifth Third's free checking account may have a minimum balance requirement to avoid fees or to earn interest. The requirement and interest rate change periodically. Some accounts waive the minimum if you set up direct deposit or maintain a linked savings account with a certain balance.

Interest rates on checking accounts are typically very low—often less than 0.01% annually—so the interest earned on a checking account balance is minimal. If you're looking to earn meaningful interest, a savings account or money market account at Fifth Third or elsewhere will pay more. Confirm the current minimum balance and interest rate with Fifth Third before opening the account, as these terms are not fixed.

How to review your account terms before opening

Fifth Third publishes a fee schedule and account disclosure document that lists all current fees and terms. You can request this document in person at a branch, by phone, or online through Fifth Third's website. The document shows the overdraft fee amount, out-of-network ATM fee, wire transfer fee, stop payment fee, and any other charges specific to the free checking account.

Before you open the account, ask Fifth Third whether the free checking account requires a minimum balance, what the current interest rate is (if any), and whether direct deposit or linked accounts affect your terms. These details matter if you plan to keep a low balance or rarely use the account. Getting answers in writing protects you if terms change after you open the account.

Comparing Fifth Third's free checking to other banks

Many banks offer checking accounts with no monthly fee, but the fees for overdrafts, out-of-network ATMs, and wire transfers vary widely. Some banks charge $25 to $35 per overdraft; others charge $15 to $20. Some reimburse out-of-network ATM fees; others charge you on top of the ATM operator's fee. Some waive wire transfer fees for certain account holders or transaction types.

If you frequently overdraft, use out-of-network ATMs, or send wire transfers, the total cost of Fifth Third's free checking account may be higher than an account at a bank with lower per-transaction fees or more generous fee waivers. Compare the fee schedules of banks where you already have accounts or banks with branches near you. The lowest monthly fee doesn't always mean the lowest total cost.

Frequently Asked Questions

Does Fifth Third charge a monthly fee for free checking?

No, the account has no monthly maintenance fee. However, you can incur charges for overdrafts, out-of-network ATM use, wire transfers, and other services. The account itself is free to hold open.

What happens if I overdraft my Fifth Third checking account?

Fifth Third charges an overdraft fee for each transaction that overdraws your account. You can opt out of overdraft protection to have transactions declined instead, or link a savings account for automatic transfers. Contact Fifth Third for the current overdraft fee amount.

Can I avoid ATM fees with Fifth Third checking?

Yes, use Fifth Third's own ATM network for free withdrawals. Out-of-network ATMs charge a fee from the ATM operator, and Fifth Third may charge you an additional fee. Fifth Third's free checking does not reimburse out-of-network ATM fees.

Does Fifth Third's free checking require a minimum balance?

Minimum balance requirements vary and change over time. Some accounts waive the minimum if you set up direct deposit or link a savings account. Contact Fifth Third to confirm the current minimum balance requirement for the free checking account.

Are there fees for wire transfers from Fifth Third checking?

Yes, Fifth Third charges a fee for domestic and international wire transfers. The fee amount varies and changes periodically. Ask Fifth Third for current wire transfer pricing before you need to send money.