Fifth Third Expands Free Checking Accounts

Nachrichtenquelle: Business Wire (engl.)
25.02.2020, 15:00  |  107   |   |   

Fifth Third Bank has expanded its Free Checking option to all of its retail markets. The Bank created the account to make banking simpler for customers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200225005112/en/

Brian Lamb is the head of Retail Banking for Fifth Third Bank. (Photo: Business Wire)

Brian Lamb is the head of Retail Banking for Fifth Third Bank. (Photo: Business Wire)

The Bank launched Free Checking last year in select markets and now is expanding the account to all customers in its 10 states from the Midwest to the Southeast.

“We understand that our customers value a checking account that is simple and straightforward,” said Brian Lamb, head of Retail Banking for Fifth Third. “So we created Free Checking, with no monthly maintenance fees, no minimum balances, and no hoops to jump through to get that benefit.”

The average monthly cost of a checking account is $5.61 for non-interest bearing and $15 for interest-bearing accounts, according to Bankrate.

Fifth Third’s new Free Checking account includes full services at the Bank’s branches as well as the bank’s award-winning mobile app, bill pay, and other services.

“Our goal is to play a meaningful role in the lives of customers to become financially empowered,” Lamb said. “This account provides a valuable solution so we can continue to help our customers pursue their dreams.”

Notices and Disclosures:

No minimum deposit required to open a checking or savings account. Account must be funded within 45 days of opening.

Mobile internet data and text messaging charges may apply. Please contact your mobile service provider for details. To use the mobile app or web you must have previously logged onto Internet Banking through 53.com.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of December 31, 2019, Fifth Third had $169 billion in assets and operated 1,149 full-service banking centers and 2,481 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2019, had $413 billion in assets under care, of which it managed $49 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.

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