New Fifth Third Momentum® Banking Offers Checking with No Monthly Fees and a Simple Digital Account Opening Experience
February 24 2021 - 09:50AM
Business Wire
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.
The benefits of Fifth Third Identity Alert® are optional, not
FDIC insured, subject to additional fees, and provided by Fifth
Third’s vendor, 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 each $1 spent on qualified
purchases. The value of each point is $0.01. If earned points
result in a fractional amount, then such fractional amount will be
rounded to the nearest whole number. For example, if your rewards
points total 3.216, you will be awarded 3 rewards points.
See the rewards terms and conditions for important information
including details about: (1) purchases: dollar value of goods and
services, minus credits and adjustments, excluding fees and other
items. (2) categories: merchants’ card readers are assigned to
categories which determine how a transaction is characterized for
rewards purposes. We do not control which categories card readers
are assigned to. (3) redemption options. (4) changes: the program
may change. (5) expiration: points do not expire. Rewards are
earned as points which can be redeemed for cash back as a credit
card statement credit or a deposit into your Fifth Third checking
or savings account.
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 Dec. 31, 2020, Fifth Third had $205 billion in
assets and operated 1,134 full-service banking centers and 2,397
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia,
North Carolina and South Carolina. In total, Fifth Third provides
its customers with access to approximately 52,000 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 Dec. 31, 2020, had $434
billion in assets under care, of which it managed $54 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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version on businesswire.com: https://www.businesswire.com/news/home/20210224005679/en/
Laura Trujillo (Media Relations) Laura.trujillo@53.com |
513-534-4361
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