Fifth Third Bank Preferred Checking
Our take
- This is an excellent effort-to-reward offer: $300 for just $500 in qualifying direct deposits within 90 days, with no monthly service charge on Momentum Checking.
- Momentum Checking is the clear default; Preferred only makes sense if you already maintain $100,000 in eligible combined balances, otherwise its $25 monthly fee can quickly erode the bonus.
- The biggest friction is account opening—online applications may be redirected to a branch, and you may need to unfreeze ChexSystems before the bank will proceed.
- The direct deposit requirement doesn't require real payroll—a standard ACH push from an external account has consistently triggered the bonus. Stick to standard ACH: instant-payment rails like RTP have failed to trigger it from at least one confirmed source.
- Confirm you have no current Fifth Third deposit account, your last one was closed more than 13 months ago, and the offer code is attached when you open the account.
Choose your account
Bonus terms are identical across these accounts — compare fees and waivers below.
- Maintain at least $100,000 combined across eligible Fifth Third deposit and investment accounts to waive the $25 monthly service charge. One Preferred Checking owner must be the primary owner on the other accounts included in the combined balance.
Requirements
Receive one or more qualifying payroll or government direct deposits totaling at least $500 within 90 days after opening the account.
Direct deposit methods
Confirmed13
Fidelity
Generic Fidelity pushes have triggered the bonus when the sending account type was not identified.
Fidelity CMA
ACH pushes from Fidelity CMA have triggered the bonus.
Capital One Savings
Transfers from Capital One Savings have triggered the bonus.
Relay Business Checking
A Relay-originated payment has triggered the bonus.
SoFi Checking
Transfers from SoFi Checking have triggered the bonus.
Kraken
Kraken transfers have triggered the bonus. One transfer posted with a 'FTICa' descriptor rather than a generic transfer label.
American Express Business Checking
ACH pushes from American Express Business Checking have triggered the bonus.
American Express Checking
ACH pushes from American Express Checking have triggered the bonus.
Wells Fargo Checking
Standard ACH pushes from a regular Wells Fargo checking account have triggered the bonus.
Charles Schwab Brokerage
Standard transfers from Charles Schwab Brokerage have triggered the bonus.
Ally Bank
Standard ACH or P2P transfers from Ally have triggered the bonus.
Chase Checking
Use a standard ACH external transfer. RTP or FedNow-style instant transfers may not trigger the bonus.
Chase Business Checking
Standard ACH pushes from Chase Business Checking have triggered the bonus.
Terms & account details
Fee waiver — any one of:
- Maintain at least $100,000 combined across eligible Fifth Third deposit and investment accounts to waive the $25 monthly service charge. One Preferred Checking owner must be the primary owner on the other accounts included in the combined balance.