Fifth Third Bank is a regional bank with branches across the Midwest and South
Fifth Third Bank is a full-service bank owned by Fifth Third Bancorp, a publicly traded company. It operates branches in Ohio, Indiana, Kentucky, Michigan, Georgia, Florida, and other states, though it is not a national bank with locations everywhere. If you are new to banking or returning after time away, Fifth Third works the same way most traditional banks do: you can open a checking account, get a savings account, borrow money, and use their ATM network.
The bank's name comes from its history — it was formed in 1858 from a merger of two Cincinnati banks, the Third National Bank and the Fifth National Bank. That history matters less than what it means now: Fifth Third is a mid-sized regional bank, not a small community bank and not a giant like Chase or Bank of America. This affects where you can walk in, what services they offer, and sometimes how they price their accounts.
Key Takeaways
- Fifth Third Bank operates physical branches in the Midwest and South, so you can visit in person if you live in or near those states.
- You can open checking and savings accounts, get debit cards, and use their ATM network just like at any other bank.
- Fifth Third also offers loans, credit cards, and investment services, though you may find better rates elsewhere depending on your situation.
- If you do not live near a Fifth Third branch, you can still bank online, but you will not have a physical location to visit.
What accounts and services Fifth Third offers
Fifth Third offers the standard accounts most people need when they start banking. You can open a checking account to deposit paychecks and pay bills, and a savings account to set money aside. Both come with a debit card for the checking account, online access, and the ability to transfer money between your accounts.
The bank also offers credit cards, personal loans, home loans, and auto loans. If you have money to invest, Fifth Third has investment and wealth management services, though these are usually aimed at people with larger amounts to invest. Like most banks, Fifth Third charges monthly fees on some accounts, though they often waive the fee if you keep a minimum balance or set up direct deposit of your paycheck.
Fifth Third is not an online-only bank — it has physical branches you can visit. This matters if you prefer to talk to someone in person, deposit cash, or handle banking face-to-face. If you live far from a branch, you can still use their website and mobile app to do most banking tasks, but you will need to mail checks or use ATMs for cash deposits.
How Fifth Third compares to other banks
Fifth Third is larger than a local credit union or community bank, which means it usually has more branches and ATMs in its service area. It is smaller than national giants like Chase, Wells Fargo, or Bank of America, which means it may have fewer locations overall and sometimes different fees or interest rates.
If you live in a state where Fifth Third has branches, you benefit from being able to visit in person. If you live outside their service area, you can still bank with them online, but you lose the convenience of a nearby branch. Some people prefer regional banks because they feel more connected to their community; others prefer national banks because they can access branches anywhere they travel.
Fifth Third's interest rates on savings accounts and CDs (certificates of deposit) vary, and they are not always the highest available. Online-only banks often pay more interest on savings because they have lower costs. Fifth Third's loan rates depend on your credit and the type of loan, just like at any other bank.
How to open an account at Fifth Third
To open a checking or savings account, you can visit a Fifth Third branch in person or start the process online. Either way, you will need to provide your Social Security number, a government-issued ID, and proof of your current address (like a utility bill or lease). The bank will also check your banking history using ChexSystems, a system that tracks past banking problems like overdrafts or fraud.
If you open online, you can usually complete the process in minutes and start using your account right away. If you open in a branch, a banker can answer questions and help you choose which account fits your needs. Fifth Third offers different checking accounts with different fees and features, so it helps to know whether you want a basic account or one with extra services.
Once your account is open, you will receive a debit card in the mail, usually within 5 to 10 business days. You can set up direct deposit so your paycheck goes straight into your account, and you can start using online banking to check your balance and move money.
Fifth Third's ATM network and mobile banking
Fifth Third customers can use ATMs at any Fifth Third branch to withdraw cash for free. The bank also belongs to a network called Allpoint, which means you can use thousands of ATMs at other banks and retailers without paying a fee. This is important if you travel or live near a Fifth Third branch but work somewhere else — you can usually find a free ATM nearby.
Fifth Third's mobile app lets you check your balance, transfer money, pay bills, and deposit checks by taking a photo. You can also set up alerts so you know when your balance drops below a certain amount or when a large purchase goes through. The app works on both iPhone and Android phones.
Fees and minimum balances
Fifth Third charges a monthly fee on most checking accounts, though the amount varies by account type. Many accounts waive the fee if you keep a minimum balance (often $500 to $1,500) or set up direct deposit. Some accounts have no monthly fee at all, but they may have other limits, like a cap on the number of transfers you can make.
The bank also charges fees for things like overdrafts (when you spend more than you have), wire transfers, and stopping a check. ATM fees at other banks vary — some are free through the Allpoint network, but using an ATM outside the network may cost $2 to $3. It is worth asking about fees when you open your account so you know what to expect.
Whether Fifth Third is right for you
Fifth Third works well if you live in one of their service states and want a bank with physical branches you can visit. It is a solid choice if you want a traditional bank experience — someone to talk to, a place to go, and a range of services under one roof. The bank is stable and insured by the FDIC, which means your money is protected up to $250,000 per account type.
Fifth Third may not be the best choice if you want the highest interest rates on savings — online banks often pay more. It may also not work if you live outside their service area and prefer not to bank entirely online. If you want a smaller, more personal experience, a local credit union might feel like a better fit. If you want the most branch locations and ATMs, a national bank might serve you better.
The best bank for you depends on where you live, how you like to bank (in person or online), and what services you need. Fifth Third is a legitimate option worth considering if you have a branch nearby.
Frequently Asked Questions
Is Fifth Third Bank FDIC insured?
Yes. Fifth Third Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type are protected if the bank fails. This protection covers checking accounts, savings accounts, and money market accounts separately.
Can I bank with Fifth Third if I do not live near a branch?
Yes, you can open an account online and do all your banking through the website and mobile app. You will not be able to visit a branch in person, but you can deposit checks by photo, transfer money, and pay bills online. You may need to mail in documents or use ATMs for cash deposits.
What is the minimum balance to open a Fifth Third account?
Fifth Third does not always require a minimum balance to open an account, but some account types do. Minimum balances usually range from $0 to $1,500 depending on the account. Check with Fifth Third directly or visit their website to see the current requirements for the account you want.
Does Fifth Third have overdraft fees?
Yes, Fifth Third charges overdraft fees if you spend more money than you have in your account. The fee amount varies, but it is typically $35 or more per overdraft. You can often set up overdraft protection to link your checking account to a savings account, which prevents overdrafts but may have its own fee.
How do I contact Fifth Third Bank if I have a problem?
You can visit a branch in person, call their customer service number (usually on the back of your debit card), or use the mobile app to message support. Fifth Third also has a website with FAQs and account management tools. Response times vary depending on how you contact them.