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Easier transfers means faster savings, too. A health savings account, or HSA, lets you save for medical expenses. Luckily, the Fifth Third Health Savings Account helps you keep track of your purchases and manage a budget. Features include online bill payment so you can more easily pay your medical expenses to healthcare providers nationwide.

This allows you to view your transactions and balance and securely upload medical receipts. Plus, the account offers the opportunity for mutual fund investments. The bank has a few CD offerings. A CD grows your initial deposit at the set rate for a set amount of time.

You choose the term length you want. The bank offers accounts ranging from seven days to 84 months. Typically, you cannot touch the funds within a CD until the term length is over, also known as reaching maturity.

Once a CD reaches maturity, you can renew the account or withdraw your funds. You can open a CD with the bank, as well. A savings account helps you save for education expenses, like room and board or textbooks. Fifth Third Bank CDs earn more thanks to compound interest. This means that your money is constantly growing since interest earned will earn interest and so on.

If you want to open a Fifth Third loan and you have a CD with the bank, the CD may be used as collateral for the loan. Fifth Third Bank advertises this money market account as perfect for you if you want to see some serious savings growth. It helps if you have a larger amount of money to deposit and grow, with higher balances earning at higher interest rates.

This also means that as your money accrues interest, it can climb up the account balance tiers to earn even more interest. As a kind of cross between a standard savings account and a checking account, this money market account includes the ability to write checks.

However, given the high monthly maintenance fees and low APYs, customers may find that their checking accounts cost more and their interest-bearing accounts pay less than competitors'. Although it is possible to eliminate monthly maintenance fees, Fifth Third sets more onerous requirements for waiving these fees than other banks do.

If you only need a few services or the most basic of accounts, you may want to bank elsewhere. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks including products available, interest rates, fees, and accessibility to ensure that our content helps users make the right decision for their savings and banking needs. Your Privacy Rights. To change or withdraw your consent choices for Investopedia.

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Cons High monthly maintenance fees High balance requirements to waive monthly fees Low APY on interest-bearing accounts Monthly debit card service charge. Company Overview. Year Founded Official Website www. EST ; Saturday, 8 a. Pros Explained. Cons Explained. Fifth Third Bank Customer Service. How to Bank with Fifth Third Bank. This means that if you use your Fifth Third Bank debit card at any of these ATMs within the network, you will pay no transaction fees.

No minimum deposit to open a checking or savings account — Fifth Third Bank accepts accounts of any size. You are required to fund the account within 45 days of opening it, however.

Interest bonuses available on savings — The Fifth Third Goal Setter Savings account encourages you to save by offering an interest bonus. These rates are lower than other banks offer. Checking Accounts Fifth Third Express Banking While not exactly a checking account, Fifth Third Express Banking provides customers an account with no maintenance fee that offers many of the benefits of a checking account: You can cash checks and make deposits at Fifth Third Bank branches and deposit checks via the mobile app.

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