Fifth Third Momentum® Banking Offers the Ease of Digital Banking with Personal Assistance When You Need It | Business and finance

CINCINNATI – (BUSINESS WIRE) – April 26, 2021 –

Fifth Third Bank, National Association, is proud to launch Fifth Third Momentum ® Banking – the first everyday banking solution of its kind. It combines the functionality and innovation of a digitally-driven bank with the security, reliability and local presence of a 163-year-old institution committed to the communities it serves. Fifth Third Momentum Banking 1 is the industry-leading solution to help customers avoid and manage cash flow shortages, get paid and pay off others, and meet their savings goals, knowing their bank is helping protect their identity and finances. Plus, clients have thousands of professionals ready to help them achieve their financial well-being.

Fifth Third Momentum® Banking – a one-of-a-kind everyday banking solution. (Photo: Business Wire)

“Fifth Third Momentum Banking is the latest leap forward in Fifth Third’s digital transformation, enabling clients to manage their finances day in and day out and do banking how they want, when they want and where they want.” , said Tim Spence, president. of the fifth third bank. “We give customers the widest possible range of options to access their money faster and avoid fees. When a client chooses to use a short-term liquidity product, it is a cheaper and more sustainable way to cover a cash shortfall than an overdraft fee. “

Fifth Third Momentum clients will have one of the widest options of any bank to access their money quickly and resolve liquidity issues by:

  • Prepayment – Free access to payroll up to two days in advance with direct deposit, rolled out in our business footprint this summer. 2
  • MyAdvance ™ 3 – Ability to advance funds of $ 50 or more against future eligible direct deposits, available now, starting the month after direct deposit is established. 4
  • Immediate Funds – Ability to receive instant availability for check deposits. 5
  • Extra Time ® – Extra time to make a deposit and avoid overdraft fees, available in select markets today 6 and soon across our entire retail network.

Fifth Third Momentum Banking 1 also offers a seamless digital experience and a set of tools to help customers save for a vacation, a rainy day fund, or whatever goals they have set themselves. Fifth Third Momentum Savings allows clients to set a goal and plan the transition of money from checking to savings to reach their goal. 7

Fifth Third Momentum Banking has a monthly maintenance fee of $ 0 1 and thousands of experienced local bankers and customer service representatives ready to help. Customers can easily reach Fifth Third by texting, over the phone, setting up a meeting in person or over the phone through the app, or simply by visiting one of the more than 1,100 local financial centers.

Fifth Third Momentum Banking complements all Fifth Third Better offerings: a newly improved mobile app, one of the largest US banking networks with toll-free ATMs (over 50,000), 8 digital messaging and the ability for customers add products and features like 9 additional fraud protection services and 1.67% cash back on every purchase with our new credit card with Cash / Back rewards. ten

“Fifth Third Momentum Banking meets the daily banking needs of our customers,” said Melissa Stevens, digital director of Fifth Third Bank, “helping customers with the security of a bank and the ease of an app, and there is always a human being – a real face and a real smile, ready to help.

1 No minimum deposit required to open a checking or savings account. Account must be funded within 45 days of opening.

2 Certain conditions apply. Where applicable, free access to funds for prepayment depends on direct deposit submission by the payer and can currently be up to one day before the scheduled payment date for accounts opened in Georgia and, in June, up to two days before the scheduled payment date. Eligible direct deposits can include salaries, pensions, or government benefits (such as social security).

3 MyAdvance TM is currently known as Fifth Third Early Access ®. Early Access will be renamed MyAdvance in June 2021.

4 Fifth Third Early Access® (EAX) is an expensive form of credit. We may be able to provide you with other cheaper options that are better suited to your needs. EAX is a form of short-term credit that allows personal check customers eligible for the fifth third to take an advance on their next eligible direct deposit. The monthly credit limit calculation for an EAX Line of Credit open 90 days or less is based on eligible direct deposits from the previous 35-day period. The monthly credit limit calculation for an EAX line of credit open 91 days or more is based on the lower amount; The total amount of eligible direct deposits during the previous 35-day period or the average amount of all eligible direct deposits made to the associated account during the last three (3) months. The minimum amount of the credit limit is $ 50 and the maximum is $ 1,000. Additional terms and conditions apply.

5 Certain restrictions and charges will apply. Fees are disclosed at the time of filing. Deposits can be made at a branch or via our mobile application. Mobile deposits are subject to the Digital Services Terms of Service, including applicable cut-off times.

6 In order to avoid any overdraft charge with Extra Time, you must make a deposit by 11:59:59 p.m. ET the next business day after your account overdraft to bring your account balance to at least $ 0. You must deposit enough to cover all of the items that caused your overdraft as well as any overdue checks, automatic payments or pending debit card purchases that may be presented on that business day. Extra Time is available in select markets and will be available to all Fifth Third Momentum chequing account customers later this year.

7 Subject to the Digital Services User Agreement. Mobile internet data and text messaging charges may apply. Please contact your wireless service provider for details. To use the mobile application or the Web, you must first be connected to Internet Banking via 53.com.

8 Fifth Third Bank is part of the Allpoint®, Presto! And 7-Eleven® ATM network, which includes more than 50,000 free ATMs across the country. Fifth Third Bank customers can use their fifth third debit or prepaid card to withdraw money free of charge from any domestic Allpoint® ATM in addition to Presto! Vending machines located in Publix stores and 7-Eleven® vending machines listed on our vending machine locator on 53.com or on our mobile banking application. Charges will apply when using your credit card at any ATM machine to make a cash advance or when using a credit card to withdraw money at any what a Presto! AU M. ATM fees may apply at select 7-Eleven® locations in Oklahoma, Hawaii and Alaska. Any 7-Eleven® location listed on our ATM locator is free. See the Deposit Account Rules and Regulations for more information on ATM fees and services. The ATM network is free for Fifth Third Bank customers when they use their debit or prepaid card to withdraw money. When using an ATM that is not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged for a balance request, even if you do not complete not a transfer of funds). Non-fifth third ATM transaction: $ 2.75 per transaction; International Point of Sale / ATM Transaction Fee: 3.00% of the transaction amount; currency conversion fees: 0.20% of the amount of the transaction; Withdrawal at the international counter: $ 5.00; Debit Card Fee for Non-Fifth Third Party Cash Advances: Over $ 5 or 3.00% of transaction amount up to a maximum of $ 10.

9 Fifth Third employs a number of fraud protection measures and offers you free tools, such as alerts, to help protect your account. You may also sign up for Fifth Third Identity Alert®, an optional non-FDIC insured product, subject to additional charges, provided by Fifth Third’s supplier, Trilegiant.

10 Subject to credit review and approval. 1.67 reward points (1.67% Cash Back) for every dollar spent on qualifying purchases. The value of each point is $ 0.01. If the points earned result in a fractional amount, this fractional amount will be rounded to the nearest whole number. For example, if your Rewards points total 3,216, you will receive 3 Rewards points.

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 March 31, 2021, Fifth Third had $ 207 billion in assets and operated 1,098 full-service banking centers and 2,383 Fifth Third-branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and the North. Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 toll-free ATMs across the United States. Fifth Third operates four main businesses: commercial banking, branch banking, consumer lending, and wealth and asset management. Fifth Third is one of the largest fund managers in the Midwest and, as of March 31, 2021, had $ 464 billion in assets under management, of which it manages $ 58 billion for individuals, corporations and organizations for purpose. non-profit by Investment advisory firms. Investor information and press releases can be found at www.53.com. The common shares of Fifth Third are 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. FDIC member.

CONTACT: Laura Trujillo (Media Relations)

Chris Doll (Investor Relations)

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL BANKING SERVICES

Copyright Business Wire 2021.

PUB: 04/26/2021 12:07 PM / DISC: 04/26/2021 12:07 PM

Copyright Business Wire 2021.


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