CINCINNATI – (BUSINESS WIRE) – Fifth Third Bank, National Association, today announced the launch of Fifth Third Momentum® Banking, a program focused on solving the daily banking needs of our customers. Fifth Third Momentum is a robust solution that helps customers receive payments, pay bills, pay other people and save for the future.
Some of the main features include a checking account with no monthly fees and fraud protection options. Combined with our mobile banking app, Fifth Third Cash / Back Credit Card and the Fifth Third Identity Alert® solution, Fifth Third offers the services customers say they most want to help them achieve their financial goals.
“Fifth Third Momentum Banking offers our customers all the benefits of digital banking with the security of a bank and the support needed to achieve their financial goals,” said Mike Butera, head of consumer products and payment solutions at Fifth Third Bank . “It is a perfect way for customers to deposit 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 personal information, or they can open them over the phone or at an agency.
Fifth Third Momentum Banking uses the Bank’s award-winning mobile app, offers full services at Fifth Third Bank financial centers and 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 Zelle service.
The average checking account fee is $ 15.50 a month and the average cost of using off-line ATMs is $ 4.64 per transaction, according to a 2020 Bankrate study. Using Fifth Third Momentum can save more than $ 400 a year for a customer, based on a current account fee and an average of four off-network transactions per month. In addition, customers can earn 1.67% on each purchase with a Fifth Third Cash / Back Credit Card.
“Fifth Third Momentum Banking allows us not to offer banking solutions, but to better present the banking system as a service,” said Butera. “We will offer a set of solutions based on the customer’s need to help him achieve his goals.”
Notices and Disclosures:
No minimum deposit required to open a checking or savings account. The account must be funded within 45 days of opening.
Mobile data charges and text messages may apply. Contact your mobile operator for details. To use the mobile app or the web, you must have previously logged into internet banking at 53.com.
Fifth Third Identity Alert® benefits are optional, are not insured by the FDIC, are subject to additional fees and are provided by Fifth Third provider, Trilegiant. Credit cards are subject to credit review and approval. With a Fifth Third Cash / Back card, earn 1.67 Rewards Points (1.67% cash back) for every $ 1 spent on qualifying purchases. The value of each point is $ 0.01. If the points earned result in a fractional amount, that fractional amount will be rounded up to the nearest whole number. For example, if your reward points total 3,216, you will receive 3 reward points.
See the terms and conditions of the rewards for important information, including details on: (1) purchases: dollar value of goods and services, less credits and adjustments, excluding fees and other items. (2) categories: merchant card readers are assigned to categories that determine how a transaction is characterized for reward purposes. We do not control which categories card readers are assigned to. (3) redemption options. (4) changes: the program can change. (5) expiration: the points do not expire. Prizes are earned as points that can be redeemed for cash back as a credit on your credit card statement or a deposit in your Fifth Third checking or savings account.
About the Fifth Third
Fifth Third Bancorp is a diversified financial services company based in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, an institution licensed by the federal government. As of December 31, 2020, Fifth Third had $ 205 billion in assets and operated 1,134 full-service banking centers and 2,397 Fifth Third-brand ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third offers its customers access to approximately 52,000 free ATMs in the United States. Fifth Third operates four main businesses: Commercial Bank, Branch Bank, Consumer Credit and Asset and Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2020, had $ 434 billion in assets, of which it managed $ 54 billion for individuals, corporations and nonprofits through its Trust and Registered investment advisory companies. Investor information and press releases can be viewed at www.53.com. Fifth Third common shares are 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. FDIC member.