Fifth Third Bank Bonus, Get $500 with New Account (Targeted)

Fifth Third Bank Bonus, Get $500 with New Account

Fifth Third Bank has a new checking account bonus of $500. You need to deposit $15,000 for three months to get the full bonus and also complete $1,000 in direct deposits. This is a targeted offer that has been sent out to some customers and comes with a unique promo code. It can be used at bank locations within Kroger stores.

Offer

Get $250 when you open a new Fifth Third checking account and make direct deposits totaling $1,000 or more within 60 days.
Get an additional $250 when you meet the requirements listed above and increase your total deposit balances by $15,000 within 45 days of account opening AND then maintain that increased balance for 90 days from the date the balance requirement is reached.

Offer Terms

Total deposit balances are defined as your total checking, savings and/or CD balances and the increased balance may be in any of these accounts.
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.
Account must be opened in branch or online with unique promo code.

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 pretty good bonus if you have $15,000 to keep in the account for three months. There’s no fee for those three months either, since your balance waives it. Once you get the bonus you can close the account. This is a similar to previous public offers. Now only the $250 bonus is publicly available.

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

Targeted
Bonus: $500
Account Type: Essential Checking
Availability: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV
Expiration Date: 9/30/20
Inquiry Type: Soft pull
Opening Deposit Credit Card Funding: No
Direct Deposit Requirement: $1K within 60 days
Additional Requirements: $15K balance for 90 days
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