Fifth Third Bank
Check full information about Fifth Third Bank — review, rating in 2024. See detailed contact information, financial data, locations and list of branches.
4.04
Branches near me
Financial data
All values USD, Dollar figures in thousandsAll Financial Data Fifth Third Bank
205,546,136
185,181,401
166,753,712
20,364,631
Fifth Third Bank General info Pros&Cons
Pros:
- A+ BBB rating. A high rating by the Better Business Bureau (BBB) indicates that customers are likely to have a good experience when they interact with the bank.
- Large ATM network. Since the bank is part of the Allpoint, Presto! and 7-Eleven ATM network, customers have access to more than 50,000 fee-free ATMs nationwide.
Cons:
- Branches are not widely available. Only 11 Midwestern states have branches.
Fifth Third Bank Checking and saving accounts Pros&Cons
Pros:
- Low minimum deposit requirement. Whether you’re opening a checking or savings account, you’re allowed to deposit any amount you wish, provided it is within 45 days from opening the account.
- Monthly fees waiver. The bank offers multiple ways to avoid paying the monthly maintenance fee.
Cons:
- APY is not competitive. With an APY of 0.01%, you can do better at other banks.
- Overdraft fee. An overdraft of $37 is a little higher than the average, and customers need to monitor their balances closely because the bank can levy this fee up to five times a day.
- Debit card fee. If your debit card is linked to the Essential Check Account, you’ll be charged a $3.95 monthly debit card fee.
Fifth Third Bank Credit cards Pros&Cons
Pros:
- Variety of credit card options. The bank has a range of credit cards that cater to various needs, including traveling, managing finances, building credit, and paying for business expenses.
- Real Life Rewards. Fifth Third Bank’s rewards program allows you to redeem points on everyday things, such as dining and coffee with family and friends. You can also get cash back if you wish. Other redemption options include travel, merchandise and gift cards.
Cons:
- Unclear requirements. The bank doesn’t state the minimum credit score required for approval. However, it is reasonable to assume most cards require good-excellent credit.
- No signup bonus. The lack of a welcome bonus might be disappointing.
Fifth Third Bank Personal loans Pros&Cons
Pros:
- Some fees are excluded. You won't have to pay any origination, annual or prepayment fees.
- Flexible repayment periods. The bank offers repayments terms of 12, 24, 36, 48 and 60 months.
- Can borrow up to $500,000. Provided you secure the loan with the funds in your savings account.
Cons:
- You can’t apply online. No online application process means you’ll have to physically visit a branch (currently, the bank is only available in 11 states).
Fifth Third Bank Mortgage Pros&Cons
Pros:
- A variety of mortgage loan options. Fifth Third Bank has several traditional and specialized mortgages to meet your needs.
- Mortgage loan calculator. You can get an estimate of your rate, payment and costs using their online mortgage calculator.
- Down payment assistance program. If you meet specific income and location requirements, you may be eligible for down payment assistance, which helps you cover closing costs.
Cons:
- Not available in all states. You can only apply for a mortgage in the 11 states that the bank serves.
- No USDA loans. If you are looking for a USDA loan, you’ll have to try other lenders.
Fifth Third Bank Investment Pros&Cons
Pros:
- Automated investing. The bank’s robo-advisor, OptiFi, uses real-time market data to automatically rebalance investor portfolios, a helpful feature for novice investors since their investment strategy will essentially be on autopilot.
Cons:
- High commissions. The commission for equities can get as high as $175.00 + 0.50% of the principal. You’re also charged $75.00 + $1.75 per contract when trading options.
- Lack of advanced trading assets. You won’t find cryptocurrencies and futures to trade.