Finding the right bank for your checking account can be a tough decision. Banking is a competitive market and many banks offer a number of enticing free features for even basic accounts. If Fifth Third Banks are in your area, you may want to consider their checking account options. There are a number of account offerings, including basic free checking, student checking and interest earning accounts.
The basic free checking account offered includes no minimum balance and a low $50.00 initial deposit. A MasterCard debit card with a rewards program is included in the account, as well as unlimited in network ATM usage. Two out of network ATM fee waivers are a part of the checking package. Check writing is unlimited, and direct deposit is available. Overdraft protection is available via savings, credit card or a home equity line. If you need other financial services, discounts are a benefit of the free account, including a .25% discount on installment loan rates and a .50% discount on mortgage loan points. All Internet banking options, including on line bill payment are a part of this account and you can use software like Quicken or Microsoft Money to manage your accounts. Student checking accounts are similar, but have fewer options included. They do allow more free out of network ATM transactions, one incoming wire transfer per cycle at no charge and email alerts to both parents and students when necessary.
If you are looking for a bank account that offers a bit more than basic checking, there are some excellent options available here. The Interest Checking account includes a tiered interest rate structure, as well as all the benefits of the free checking account. A $2,000 daily minimum balance or a $20,000 combined account balance is required for this account if you want to avoid account maintenance fees. Brokerage discounts are included, as well as a free cashier’s check each month.
Fifth Third’s The One account offers easy access to all your money in one place. This account combines the best features of both a checking account and a high yield savings account in one convenient package. There is no monthly fee if a $2,000 minimum daily balance or a combined accounts balance of $20,000 is maintained throughout the month. Premium tiered interest rates are offered and any amount over $10,000 in the account is automatically granted a higher tier interest rate each day.
Older customers may find Club 53 ideal. This interest bearing checking account offers all the great benefits of the other Fifth Third accounts. As long as $100 is maintained in checking, there is no fee and interest rates are competitive, but not as high as the tiered interest in The One and the Interest checking accounts. Free travelers’ checks are included, as well as many services and benefits. There are even Club 53 travel opportunities.
Fifth Third Bank has received a two star rating at Bankrate.com’s Safe and Sound rating system. Interested customers may learn more at 53.com. The bank was founded in Ohio in 1858 and has spread throughout that region of the country.