Fifth Third Bank checking account at a glance

Physical Locations
Approx. 1100 locations offering full-service in 11 states along the East Coast and Midwest; more than 50k partner ATMs across the country

Getting started
No minimum deposit required online or in person.

Monthly service charge
There is no monthly maintenance fee

Overdraft fees
$37 overdraft fee

Other charges
Nonpartner ATM Fee of $3 per Transaction, Monthly Dormancy Fee if account is not used for 12+ Months

How do I deposit
Direct deposit; Zelle, check deposits at branch, ATM or mobile; cash deposits in ATM or branch

How do I withdraw
Zelle, physical checks, debit card, ATM at a branch.

Noteworthy feature
Customers can use the “Extra Time” feature to avoid overdraft fees. It provides additional time to pay for a purchase

Fifth Third Bank offers a complete range of financial services, including checking accounts, savings accounts and mortgages. They also offer investment options, business banking services, and loans for personal or business use. You can choose from a variety of Fifth Third checking account options, including those with premium features such as interest checking.

Fifth Third Momentum Banking is a great choice for customers who are looking for low-cost checking accounts. Fifth Third Momentum Banking doesn’t have monthly service fees or a minimum deposit.

5 Things to Know About a Fifth Third Bank Momentum Checking Account

Banks often charge monthly fees for checking and savings accounts. This can make it difficult to afford an account if you live paycheck to paycheck. The Momentum checking account at Fifth Third Bank doesn’t have any monthly fees. This may make it a good choice if you want to save some money. These are some facts about the Momentum checking account.

No monthly fees

Fees for basic checking accounts at national retail banks can run as high as $12 per month. Although you may be eligible to waive the fee if certain conditions are met, such as maintaining a minimum account balance or signing up for direct deposits, these fees can still be annoying.

This Fifth Third Momentum account has no monthly maintenance fees, minimum deposit, or minimum balance requirements. These benefits make it an attractive choice for those who don’t have the funds to open new accounts.

Save on overdraft fees by using ‘Extra Time

Overdraft fees are charges that you incur when your account balance drops below zero. Your bank might allow the charge to go through if you have overdraft protection. If this happens, they may charge an overdraft fee. On average, overdraft fees average about $30.

Fifth Third checking allows you to take advantage of the bank’s “Extra Time” feature. This can help you avoid overdraft charges. Fifth Third will notify you the next day if your account is in excess. To bring your account up to $0, you will have to make a deposit until midnight Eastern Time. Fifth Third will not charge any overdraft fees if you make a deposit.

Access to early paycheck

Fifth Third’s Early Pay feature can reduce the time it takes to process direct deposits. You can get your money as soon as two days earlier.

You don’t have to use early pay for your paychecks. You can also use it for other deposits such as tax refunds. It is free and there are no fees. You don’t even have to sign up to get it. Customers of Momentum can benefit from this benefit by setting-up direct deposit to their checking accounts.

MyAdvance offers Paycheck Advances

You can use your Fifth 3rd Momentum to obtain a cash advance through MyAdvance if you have an urgent need for cash. MyAdvance allows you to get up to $50 and $1,000 without having to check your credit.

The fees range from 3% to 5 percent of the cash advance amount. They are determined by the length of time your account has been open. Your next qualifying direct deposit will automatically take out the advance and any related fees.

Cash advances such as Fifth Third’s MyAdvance are often expensive forms of credit. Personal loans and payday advances may offer lower-cost options.

Checking account are not available to all

Although Fifth Third’s Momentum account may appeal to those who are looking to get a low-cost checking or savings account, it is not for everyone.

Fifth Third Bank serves only 11 states. You can’t open an account if you are outside the service area.

Online opening of a checking account is possible if you are located in a Fifth Third Bank-operating state. You must be at least 18 years old, possess a Social Security Number, and have valid identification. You must present a valid form or nonresident alien card to apply in person at the local branch.

Fifth Third has free checking?

You have a variety of Fifth Third checking accounts options. Fifth Third’s Express and Momentum accounts are free checking accounts that do not require a minimum balance or have monthly service fees.

What does it cost to bank with Fifth Third?

It depends on the account you choose. Momentum accounts, for example, have no minimum balance and no monthly service fees. Fifth Third Preferred checking costs $25 per month, however, it offers additional features such as interest checking, complimentary personal check and identity alert protection.

Are you unsure if Fifth Third Bank is the right choice for you? These are some alternatives.

  • Citizens Bank EverValue : Citizens Bank EverValue accounts have $5 monthly fees, but no overdraft fees or minimum balance requirements.
  • Capital One 360 Customers can access theCapital One 360 checking accounts nationwide. There are no monthly fees, overdraft charges, or minimum account balances.