Fifth Third Bank New Account Promotion: $250 Cash

Fifth Third Bank

If you’re looking to get a new Fifth Third Bank checking account, also known as 5/3 Bank, you might be delighted to learn that you could also get $250 to go along with it.

The requirements for this offer are quite simple and you can even open an account entirely online.

Table of Contents
  1. About Fifth Third Bank
  2. How to get $250 from Fifth Third Bank
  3. Fifth Third Bank Fees
  4. How Does Bonus This Compare?

About Fifth Third Bank

Just to cover our bases (every bank listed on the blog is FDIC insured), Fifth Third Bank, National Association, is FDIC insured up to $250,000 (FDIC Cert# 6672) and regulated as a National Bank. They were founded in June of 1858 with headquarters in Cincinnati, Ohio at the aptly named Fifth Third Center.

They have over a thousand locations across eleven states and if you live near one, you could get a bonus from them for opening a checking account.

Here’s how:

How to get $250 from Fifth Third Bank

To get $250from Fifth Third Bank, all you need to do is:

  1. Open an eligible checking account with your offer code,
  2. make direct deposits totaling $1,000 or more within 60 days of account opening,
  3. Collect $250! (deposited within 10 days of meeting the requirements)

The Fifth Third Essential, Enhanced, Preferred, Free Checking and Free Checking plus Extra Time all qualify for this promotion.

To get your offer code, just go to the promotional page and enter your email address. They will email you your code (it takes a few minutes) and it’ll look something like this:

Don’t use this specific code though, you’ll get a unique one in an email.

You can open this account entirely online or you can visit a branch, which is really convenient. If you do it online, your code will be automatically applied. The email explains it all so you don’t have to remember.

You must be a new customer and you can only get one new account-related bonus each calendar year from Fifth Third Bank and you can’t have closed an account within the last 12 months (which is a stricter requirement). You must also be in their service area, which includes FL, GA, IL, IN, KY, MI, NC, OH, TN, and WV.

Learn more
(Offer expires 9/30/2021)

Fifth Third Bank Fees

Fifth Third Essential, Enhanced, Preferred, Free Checking and Free Checking plus Extra Time all qualify for this promotion but they have different fee schedules.

The Fifth Third Momentum Checking is an account that has no monthly service charge, no minimum balance required, and no minimum deposit to open the account. They use different terms, like free checking, in the promotional offering but I suspect the Fifth Third Momentum Checking is likely the most fee friendly account.

By comparison, Fifth Third Preferred Checking requires a combined balance of $100,000 or you pay $25 per month. The benefit of Fifth Third Preferred Checking is that it earns a tiny smidge of interest, which I don’t see as worth it at all.

How Does Bonus This Compare?

It’s a pretty solid bonus for a reasonable direct deposit requirement so if you qualify, I’d take advantage of it.

Here are a few comparable deals you should take a peek at too:

Citi Priority Account – $300, $700, or $1,500

Citi is offering $300, $700, or $1,500 bonus when you open an account by 10/4/2021. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.

Chase Total Checking® – $225

Chase Bank will give you $225 when you open a Total Checking account and set up and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

Capital One 360 Checking – $150

Capital One 360 has a $150 cash bonus when you open a new account and then receive 2 direct deposits totaling $250 or more within 75 days of account opening. Valid for new 360 Checking account customers. If you had a 360 Checking account with Capital One on or after January 1, 2018, you are ineligible.

HSBC Premier Checking – $600

HSBC has an offer where you can get up to $600 with a 3% cash bonus checking offer on qualifying direct deposits each month for the first six months of opening. It’s one of the more interesting deposit bonuses as it doesn’t rely on your account balance being a certain size. Click here to learn more about this offer.

Bank of America – $100

Bank of America offers a $100 cash bonus if you open a new account and set up and receive at least 2 qualifying direct deposits of $250 or more into that account within the first 90 days of opening. It has a monthly fee that is easy to have waived, you can learn more about this offer here.

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About Jim Wang

Jim Wang is a thirty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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