New Fifth Third Bank $250 Bonus

Fifth Third Bank is offering a $250 bonus for new customers who open a checking account. This time there is a $1K direct deposit requirement. This Fifth Third Bank $250 bonus is available until December 31, 2020.

Offer

To qualify for the $250 checking bonus:

• Provide the offer code (request your offer code here)
• Open a new Fifth Third Essential, Enhanced, Preferred, Free Checking or Free Checking plus Extra Time (where available) checking account between 6/1/2020 and 12/31/2020
• Make direct deposits totaling $1,000 or more within 60 days of account opening.

Receive your $250 offer code via email and then either Apply Online or Schedule an Appointment and bring your offer code to any Fifth Third branch to redeem.

No minimum deposit to open a checking account. Bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements. Bonus may be taxable as interest income and reported on IRS Form 1099-INT.

Eligibility

Offer is available to residents in the following states; FL, GA, IL, IN, KY, MI, NC, OH, TN, WV

Offer not available to existing checking customers or to those with a Fifth Third Checking account that has been closed within the last 12 months.

Fees

Fifth Third Essential Checking® account has a $11 monthly service charge. This charge is reduced to $8 per month with a monthly direct deposit totaling $500 or more or it is completely waived with any of the following:

• Maintain a combined monthly average balance of $1,500 across your deposit and investment accounts
• Spend at least $500 per month on a Fifth Third credit card
• Have any existing Fifth Third personal mortgage, auto loan or line of credit with an outstanding balance
• Are a current or former U.S. military member with monthly direct deposits totaling $500 or more
• Participate in your employer’s Fifth Third banking benefits program with monthly direct deposits totaling $500 or more
• Are a student with a valid student ID
• Have a Business Premium or Business Elite Checking account and have completed a relationship consent form.

Guru’s Wrap-Up

This is a good bonus, but it was easier in the past when direct deposit wasn’t required. There is also a better targeted bonus of $500 for those who have that offer. Still worth applying if you are in one of the eligible states.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

Offer Details

• Get Offer Code
• Bonus: $250
• Account Type: Essential Checking
• Availability: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV
• Expiration Date: 9/30/20 12/31/20
• Inquiry Type: Soft pull
• Credit Card Funding for Opening Deposit: No
• Direct Deposit Requirement: $1K within 60 days (ACH from Ally, Capital One etc. works)
• Additional Requirements: No
• Monthly Fee: There is an $11 monthly fee that can be waived with a balance of $1,500
• Closing Account Fee: None. Account must remain open for 90 days

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