Fifth Third Bank is a regional bank with branches across the Midwest and South

Fifth Third Bank (stylized as 5/3 Bank) is a publicly traded bank headquartered in Cincinnati, Ohio. It operates roughly 1,100 branches across 15 states, primarily in the Midwest and Southeast, with the heaviest presence in Ohio, Indiana, Kentucky, and Florida. The bank offers checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs) to individual customers, along with business banking, lending, and investment services.

The name comes from a 1983 merger between Fifth National Bank and Third National Bank. If you have a Fifth Third branch near you, you can walk in to open an account, deposit cash, or speak with a banker. If you don't, you can open some accounts online, though you'll need to fund them by transfer from another bank or by mailing a check.

Fifth Third is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type per person are insured against bank failure. This protection applies whether you bank in person or online.

Key Takeaways

  • Fifth Third Bank operates over 1,100 branches mainly in Ohio, Indiana, Kentucky, and Florida, so branch access depends on where you live.
  • The bank offers standard checking and savings accounts, money market accounts, and CDs, with different features and minimum balance requirements for each product.
  • FDIC insurance protects your deposits up to $250,000 per account type, the same as any other FDIC member bank.
  • Fifth Third charges monthly maintenance fees on most accounts unless you meet balance or direct deposit requirements, so compare the terms before opening.

Types of accounts Fifth Third offers

Fifth Third's main consumer accounts are checking, savings, money market, and CDs. Checking accounts come in a few versions: a standard checking account, a rewards checking account (which pays interest if you meet activity requirements), and a student checking account. Each has different monthly fees and minimum balance thresholds.

Savings accounts and money market accounts both earn interest, but money market accounts typically pay a higher rate in exchange for a higher minimum balance and limits on how often you can withdraw. CDs lock your money for a set term (ranging from a few months to several years) in exchange for a fixed interest rate that's usually higher than savings accounts.

Fifth Third also offers individual retirement accounts (IRAs) and brokerage services, but those are separate from basic deposit accounts and involve different rules and fees.

Monthly fees and minimum balance requirements

Most Fifth Third checking and savings accounts charge a monthly maintenance fee unless you meet one of several conditions. Common ways to avoid the fee include maintaining a minimum daily balance (often $500 to $1,500 depending on the account), setting up direct deposit, or maintaining a linked savings account with a minimum balance.

The exact fee amounts and thresholds vary by account type and change over time. Before opening an account, ask a banker or check Fifth Third's website for the current fee schedule and waiver requirements for the specific account you're considering. Some accounts waive fees for students or customers under a certain age.

Interest rates on savings and money market accounts also vary and are set by the bank based on market conditions. Rates change frequently, so the rate you see today may not be the rate you earn next month.

How to open an account with Fifth Third

You can open an account in person at any Fifth Third branch or online through their website. In-person opening is straightforward: bring a government-issued ID, your Social Security number, and an initial deposit (the amount depends on the account type). A banker will walk you through the process and answer questions about fees and features.

Online account opening is faster but has limitations. You can open checking and savings accounts online, but you'll need to fund the account by electronic transfer from another bank or by mailing a check. Fifth Third will verify your identity using information from your credit report, so the process takes a few minutes but may require you to answer security questions.

Once your account is open, you'll receive a debit card (for checking) in the mail within 7 to 10 business days. You can set up online banking and bill pay immediately after opening, even before your card arrives.

Debit card, online banking, and ATM access

Fifth Third checking accounts come with a debit card that works at any merchant that accepts Visa. You can use the card to withdraw cash at Fifth Third ATMs for free. Withdrawals at non-Fifth Third ATMs may charge a fee (usually $2 to $3), though some Fifth Third accounts include a certain number of free out-of-network ATM withdrawals per month.

Online banking is free and lets you check balances, transfer money between your own accounts, pay bills, and deposit checks by phone or mobile app. Mobile check deposit is available through the Fifth Third app—you photograph the front and back of a check, and the bank credits your account within one to two business days.

Fifth Third is part of the Allpoint ATM network, which means you can withdraw cash at thousands of ATMs nationwide without a fee. Check the Allpoint locator on Fifth Third's website to find participating ATMs near you.

How Fifth Third compares to other regional and national banks

Fifth Third's main advantage is branch and ATM access if you live in one of its service areas. If you need to deposit cash regularly or prefer to speak with someone in person, a nearby branch is valuable. Its disadvantage is that it's not available everywhere—if you live in the Northeast, West, or parts of the South, you won't have a branch nearby.

Fifth Third's interest rates on savings and money market accounts are typically lower than online-only banks like Ally or Marcus, which have no physical branches and pass the savings to customers through higher rates. However, if you value in-person service or already bank with Fifth Third, the convenience may outweigh the rate difference.

Monthly fees at Fifth Third are similar to other regional banks but higher than many online banks, which often offer free checking with no minimum balance. If you can't maintain a minimum balance or don't have direct deposit, an online bank may cost you less.

What to know about Fifth Third's customer service and security

Fifth Third offers customer service by phone, in person at branches, and through online chat. Phone support is available during business hours (hours vary by service). In-person support is available during branch hours, which are typically 9 a.m. to 5 p.m. on weekdays and limited hours on Saturday.

Fifth Third uses standard security measures: encryption for online banking, two-factor authentication (a code sent to your phone or email), and fraud monitoring on debit cards. If you report unauthorized transactions within 60 days, the bank will investigate and typically refund the amount while the investigation is underway.

Like all banks, Fifth Third is required to report suspicious activity to the government and may freeze your account if it detects unusual transactions. This is a security measure, but it can delay access to your money for a few days while the bank verifies the activity.

Frequently Asked Questions

Does Fifth Third have branches near me?

Fifth Third operates mainly in Ohio, Indiana, Kentucky, Michigan, Tennessee, Florida, and a few other Midwest and Southeast states. Use the branch locator on Fifth Third's website to search by zip code. If there's no branch near you, you can still open some accounts online, but you won't have in-person access.

What's the difference between Fifth Third's checking accounts?

Standard checking has a monthly fee waived if you maintain a minimum balance or set up direct deposit. Rewards checking pays interest if you meet activity requirements (like a certain number of debit card transactions per month). Student checking waives fees for customers under 25. Compare the fee waivers and interest rates before choosing.

Can I use Fifth Third's ATM network outside my state?

Yes, through Allpoint. Fifth Third checking accounts include free withdrawals at Allpoint ATMs nationwide. Non-Allpoint ATM withdrawals may charge a fee. Check the Allpoint locator to find free ATMs in your area.

How long does it take to open a Fifth Third account online?

Online account opening takes 5 to 10 minutes. Identity verification happens immediately using information from your credit report. You can start using online banking right away, but you'll need to fund the account by transfer from another bank or by mailing a check.

Is my money safe at Fifth Third?

Yes, Fifth Third is FDIC insured, which means deposits up to $250,000 per account type per person are protected against bank failure. This is the same protection offered by any FDIC member bank, regardless of size.