Fifth Third Bank Promotions: $300 Checking Bonus

Get a $300 bonus when you open a Fifth Third checking account and make direct deposits totaling $500 or more.

There are also bonuses of $600 and $700 if you’re targeted by Fifth Third Bank.

About Fifth Third Bank

Fifth Third Bank (5/3 Bank) is a bank headquartered in Ohio, and is one of the largest consumer banks in the Midwestern United States with over 1,100 branches.

The name “Fifth Third” combined the 1909 mergers of two banks, Third National Bank and Fifth National Bank (creative huh?).

Fifth Third Bank $300 Checking Bonus

Fifth Third Bank is offering a $300 welcome bonus when you open a new Fifth Third Momentum or Fifth Third Preferred checking account and complete the following requirements:

  • Make direct deposits totaling $500 or more within 60 days of account opening

The $300 bonus will be added to your new account within 10 business days of completing qualifying activity requirements.

How To Get $300 Bonus

  1. Open a new checking account online using this link (or enter your email to get your code and bring to a local branch)
  2. Make direct deposit(s) of $500 or more within 60 days of account opening
  3. Receive $300 within 10 business days of completing offer requirements
Fifth Third $300 checking account bonus
(Image from Fifth Third Bank)

Offer Eligibility

This offer is not available to existing Fifth Third checking account or Express Banking account customers or those who closed one of these accounts within the last 12 months.

Additionally, you need to be a resident located in Florida, Georgia, Illinois, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, or West Virginia to be eligible.

Offer Details

Availability: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV, SC
Expiration: 3/31/22
Household Limit: None
Direct Deposit Required: Yes, $500+ (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: None

Fifth Third Checking Account Fees (and how to avoid them)

I strongly recommend you to open a Momentum checking account since it doesn’t have monthly service fees, while the Preferred checking account does.

Momentum® Checking Account ($0 Monthly Fees)

Fortunately, the Fifth Third Momentum checking account has no monthly service fees or minimum balance requirements to worry about.

  • No monthly service fees
  • No minimum balance requirements
  • No fees at over 50,000 partner ATMs nationwide
  • Extra Time to help avoid overdraft fees

Preferred Checking Account ($25 Monthly Fees)

The Fifth Third Preferred checking account has a $25 monthly service fee that can be waived if you:

  • Achieve a combined total balance of at least $100,000 across your deposit and investment accounts one time per month

Most people should avoid the Preferred checking account unless the Momentum checking account isn’t available in their state.

Offer Terms & Conditions

  • To qualify for the $300 checking bonus, provide the offer code, open a Fifth Third Momentum® Checking, or Preferred checking account and make direct deposits totaling $500 or more within 60 days of account opening.
  • The cash bonus will be deposited into your new account within 10 business days of completing qualifying activity requirements. In order to receive the cash bonus, your checking account must be open and in good standing.
  • Offer is not available to existing Fifth Third checking customers or to those with a Fifth Third Checking account that has been closed within the last 12 months.
  • Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year. Account must be funded within 45 days of account opening.
  • No minimum deposit required to open a checking account. Bonus may be taxable as interest income and reported on IRS Form 1099-INT. Consult your tax advisor.
  • UNIQUE OFFER CODE MUST BE PRESENTED AT ACCOUNT OPENING TO RECEIVE THE BONUS.

The Bottom Line

This is a nice publicly available offer. Fifth Third has sent higher bonus offers in the past ($600 and $700 bonus promotions), but they’re targeted to those who actually received a mailer or letter about it.

So check your mailbox if you received it, otherwise, this is a good deal considering you’ll get $300 for making a direct deposit of just $500.

I’ll add this to the list of the best bank account bonuses.

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