New Fifth Third Momentum Banking Offers Checking with No Monthly Fees and a Simple Digital Account Opening Experience

Fifth Third Bank, National Association, announced today its launch of Fifth Third Momentum Banking, a program focused on solving our customers’ everyday banking needs. Fifth Third Momentum is a robust solution that helps customers get paid, pay bills, pay others and save for the future.

Some of the key features include a checking account with no monthly fees and fraud protection options. Paired with our mobile banking app, Fifth Third Cash/Back Credit Card, and Fifth Third Identity Alert solution, Fifth Third offers the services customers say they want most to help them reach their financial goals.

“Fifth Third Momentum Banking gives our customers all of the advantages of digital banking with the security of a bank and the support needed to reach their financial goals,” said Mike Butera, head of consumer product and payment solutions for Fifth Third Bank. “It’s a seamless way for customers to bank when and how they want.”

Fifth Third Momentum Banking offers a simple digital account opening experience: Customers can open accounts online by scanning their driver’s license and entering six pieces of personal information, or they can open them by phone or in a branch.

Fifth Third Momentum Banking uses the Bank’s award-winning mobile app, offers full services at Fifth Third Bank’s financial centers, and fee-free access to more than 50,000 ATMs across the country. The account has no monthly service charge or minimum balance, contactless debit card, and P2P service Zelle.

The average checking account fee is $15.50 a month and the average cost of using out-of-network ATMs is $4.64 per transaction, according to a 2020 Bankrate study. Using Fifth Third Momentum could save a customer more than $400 a year, based on a checking account fee and an average of four out-of-network transactions per month. Additionally, customers can earn 1.67% on every purchase with a Fifth Third Cash/Back Credit Card.

“Fifth Third Momentum Banking allows us to not offer banking solutions, but to better present banking as a service,” Butera said. “We will offer a suite of solutions based on customer need to help our customers reach their goals.”

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.