Fifth Third Bank offers both a permanently free checking account and a fee-bearing account with minimum balance requirements. Momentum Checking has no monthly fee and no minimum balance. Essential Checking charges $11 per month, waived with a $1,500 minimum daily balance or $500 or more in qualifying direct deposits. Fifth Third uses minimum daily balance for Essential Checking, meaning the balance must stay at or above $1,500 on every day of the statement period.
Fifth Third Bank Account Minimums at a Glance
| Account | Monthly Fee | Minimum to Waive | Balance Method | Other Waivers |
|---|---|---|---|---|
| Momentum Checking | $0 | No fee | N/A | Available to all customers |
| Essential Checking | $11 | $1,500 | Minimum daily | $500+ direct deposit |
| Preferred Checking | $25 | $100,000 combined | Average daily combined | N/A |
| Relationship Savings | $5 | $500 | Minimum daily | Linked Fifth Third checking |
How Fifth Third Calculates Your Balance
Fifth Third Essential Checking uses minimum daily balance. Your balance is measured at the close of each business day, and it must remain at or above $1,500 on every day of the statement period without exception. A single day below the threshold, even if caused by a large payment that clears and replenishes quickly, triggers the full $11 monthly fee.
This is the same stricter method used by Wells Fargo, Truist, and Regions, where one day below the threshold costs the full month’s fee. For customers whose balances fluctuate around large recurring payments, the direct deposit waiver is more predictable.
Momentum Checking
Momentum Checking is Fifth Third’s no-fee checking account. It has no monthly fee, no minimum balance requirement, and no direct deposit requirement. The account is available to all Fifth Third customers without any qualification. It includes a debit card, access to approximately 40,000 fee-free ATMs, mobile check deposit, and overdraft options. For most Fifth Third customers, Momentum Checking is the appropriate starting account.
Essential Checking
Essential Checking charges $11 per month. The fee is waived when either condition is met: maintaining a minimum daily balance of $1,500 at the close of every business day during the statement period, or receiving $500 or more in qualifying direct deposits per month. Qualifying direct deposits include employer payroll, Social Security, pension payments, and government benefit deposits. Transfers from personal accounts and Zelle or Venmo payments do not qualify.
Fifth Third Savings Account Minimums
Fifth Third Relationship Savings charges $5 per month, waived by maintaining a $500 minimum daily balance or by linking the savings account to a Fifth Third checking account. Customers who hold Momentum Checking or Essential Checking qualify for the linked-account waiver, which means no specific savings balance is required.
For current Fifth Third savings rates, see the Fifth Third savings account guide.
How to Avoid Fifth Third Monthly Fees
The simplest approach is to use Momentum Checking, which is permanently free with no conditions. For customers who specifically want Essential Checking features, setting up a payroll direct deposit of $500 or more automatically waives the $11 monthly fee without any balance management.
For a full overview of Fifth Third Bank services and accounts, see the Fifth Third Bank complete guide.
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