Posted by William Charles on December 12, 2019
Bank Account Bonuses

Published on December 12th, 2019 | by William Charles

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[Expired] [FL, GA, IL, IN, KY, MI, NC, OH, TN, WV, In Branch] Fifth Third $250 Savings Bonus

Deal has expired, view more checking bonuses by clicking here

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Only in the following states: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV (may be only for those within a 50-mile radius of a branch). Must also open in branch
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: December 31st, 2019

The Offer

Direct link to offer

  • Fifth Third Bank is offering a bonus of $250 when you open a new Fifth Third Relationship Savings account and complete the following requirements:
    • Reach a savings balance of $15,000 within 45 days of account opening
    • Maintain that balance for 90 days from the date the balance requirement is reached

The Fine Print

  • Offer is not available to existing Fifth Third savings customers, or those with a Fifth Third savings account that closed within the last 12 months.
  • Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year.
  • Consumer savings account must be opened by December 31, 2019.
  • No minimum deposit required to open a savings account.
  • The cash bonus will be deposited into the new Relationship Savings account within 10 business days after qualifying activities are met.
  • To qualify for the $250 savings bonus you must open a new Fifth Third Relationship Savings account, reach a savings balance of $15,000 within 45 days of account opening and maintain that balance for 90 days from the date the balance requirement is reached.
  • The $250 savings cash bonus offer is valid for Relationship Savings accounts only.
  • Bonus may be taxable as interest income and reported on IRS Form 1099-INT.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

This account does not have an early account termination fee

Our Verdict

APY on this account is basically nothing (0.02% APY on balances up to $49,999). You’ll need $15,000 in the account for 90 days to trigger the bonus, works out to be an APY over 6.5% for that 90 day period. Definitely worth doing and will add this to our list of the best saving account bonuses. Fifth Third also has a $500 checking bonus that is worth doing.

Hat tip to reader Charles Mann

Useful posts regarding bank bonuses:



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molly
molly

sweet. pretty sure ive only done checking bonuses with fifth third so ill head into branch to do this one

Charles Mann
Charles Mann

My branch will make appts with banking customers so you don’t have to wait, it’s more convenient. (YMMV)

Chris
Chris

Can this offer be combined with the $500 checking acct offer? The checking acct offer requires “total deposit balances by $20,000”. If the $20,000 is left in the savings acct to satisfy the savings acct offer, will that satisfy the checking acct offer as well?

ycx
ycx

There’s no 50 mile radius requirement, at least for the one I went to in Chicago. Was able to open with out of state DL with no issues.

Gadget - Bank Bonus Geek 🕵️

I think the 50 mile applies if opening online… for new customers. It’s probably a note that got copied over from a different promo. William Charles

Andrew D
Andrew D

Can someone confirm that this line “Bank reserves the right to limit each customer to one new account-related gift incentive per calendar year.” means you can get this or a checking account bonus. Not both, right?

Charles Mann
Charles Mann

I think you can get both, but ask them to confirm it when you sign up. BTW, I’m sure the bonus wont actually post to your account until next year.

Andrew D
Andrew D

I understand that bonus will payout in 2020. I’m in the middle of a checking account bonus that will post in 2020. Thanks for the response.

Gadget - Bank Bonus Geek 🕵️

I can’t speak for 5/3rd, but Huntington has this same language and DOES pay on both, separate savings & checking promos. I believe what they mean is you cannot collect more than one bonus per year for that account type. But, if you want an answer from the bank, ask. Just keep in mind CSR’s shoot from the hip and don’t always know how things work.

TravelingTricks.com

FYI their IT systems are kinda Fucky sometimes… Applied for the $250 with $250 deposit (mailer) over the phone last week… They took my info down, spent an hour on the phone setting it all up… and then of course, it wasn’t tied to the account. Hopefully this is different.

nick
nick

what was the solution? will you still get the bonus or not? i had this prob with regions when i opened an account about a month ago

Gadget - Bank Bonus Geek 🕵️

Unlike most banks, at least 5/3rd makes it easy to see if you are enrolled. Just click “Offers and Products” in online banking and the enrolled promo code and terms will show up if everything is going to plan.

nick
nick

does anyone know if it is ok to open savings acc and get the bonus even though i closed my checking account about 8 months ago? i know you have to wait 12 months, but acc types are different. thanks

Wayne
Wayne

Looking at the terms I’d say yes you can.

Gadget - Bank Bonus Geek 🕵️

William Charles If you have existing Fifth Third online banking access (from a CC, loan, checking), you can open this account online and not go in branch. Just e-mail yourself the coupon to get the promo code, login to online banking, click Offers & Products link and enter the code.

This will be the 2nd offer I have done with Fifth Third that appeared to be in branch only, but had a backdoor if you have online banking access. The mediocre credit card I hold with them has hidden value, esp. since I am out of footprint in an ineligible state.

Terms: https://www.53.com/content/dam/fifth-third/docs/omni/2019/digital-savings-250-logout-offer.pdf

Dan
Dan

if only this worked with Suntrust…

Gadget - Bank Bonus Geek 🕵️

I’m in footprint for Suntrust.

I have been able to get some bonuses out of Associated Bank by keeping my login alive too… out of footprint. I just had to be in footprint to open the 1st account.

In footprint 5/3rd probably can signup online with their promo code too… I am just familiar with the steps I take to make it happen.

missjenniferd1🦉 🦁

im in 5/3’s footprint, and i wasnt able to do the $500 5/3 offer online, even though i emailed myself the coupon. just tried this $500 coupon code again, says” Attention

Offer code cannot be redeemed online.”
but when i try this $250 one, it definitely lets me proceed, so i see that some will allow it, and some wont, but definitely glad you pointed this out gadget, i will try this first from now on.

Dinarte
Dinarte

Do their biz cards report to the bureaus?

Gadget - Bank Bonus Geek 🕵️

Sorry, but I don’t have any biz cards.

Mat
Mat

This was a solid comment. Should be added to the post!

Gadget - Bank Bonus Geek 🕵️

Thank you. DoC usually doesn’t add to the post unless it’s proven to pay out. But the code definitely worked for signup online, and is attached to my account.

missjenniferd1🦉 🦁

Gadget - Bank Bonus Geek 🕵️ i tried this with the previous deal, the $500 one, and when i entered the coupon code for that one, it said this offer must be opened in branch. do you remember if you tried that one whether it worked or not for you? it was just a couple months ago, i just opened mine late september, but had to go in the branch for it. my old login worked, but i didnt actually have any accounts with them though. just wondering if it works on all the offers if you have a credit card, or if it only works sometimes. if it works always, then i will get a credit card with them, since i am in their footprint, i am eligible for all of their offers, but when me and my mom went into the branch for this $500 deal, we were there for like an hour, and i thought i was going to die because as you know, i was only there for the bonus, i’m not actually going to bank with them, so i fully intend to do this deal as often as possible, but dread having to go into the branch again. just tried this $500 coupon code again, says” Attention

Offer code cannot be redeemed online.”
but when i try this $250 one, it definitely lets me proceed, so i see that some will allow it, and some wont, but definitely glad you pointed this out gadget, i will try this first from now on.

Gadget - Bank Bonus Geek 🕵️

Yes… I drooled over the $500 one, tried it anyway, and it failed. In the fine print of that one it said in branch. This one doesn’t.

The Lid
The Lid

Anyone know if this has to be new money for fifth third? I can time it so I move over the money from the 500/20000 offer for the checking. Rather not have to tie up 35k for 250$.

missjenniferd1🦉 🦁

i recommend you move all the money completely out when that offer is up. after the account is a zero balance, then sign up for the savings then move the money in from the outside bank, so that it is in fact, “new money”, even though its the same money you just moved out of the checking.

CJ
CJ

If you do this together with the checking offer, do you only need to maintain 20k in saving for 90 days, or 20k+15k in checking and saving separately?

Chunk
Chunk

I have an login for Fifth Third from a 2017 checking account (that was closed in 2017). I logged into my old account.. went to “Offers and Products” just as Gadget - Bank Bonus Geek 🕵️ said.. enter the code I e-mailed myself and it accepts the code, but when I click the button to apply now, I am taken to a page with the error message. Anyone else?

“Your Application Can’t Be Completed Online
We’re sorry for the inconvenience, but at this time we are not able to process your application online. Please choose from one of the following ways to contact us, so that we can help you to understand your options.”

I’m not in the country right now so can’t go to a branch.. I think the closest branch is exactly 50 miles away if I remember correctly. I drove to the branch in 2017 when I opened.

Gadget - Bank Bonus Geek 🕵️

Sorry I am a little late on responding. That did not happen to me. My guess is they could see your IP address was out of country. Maybe next time try over a VPN?

Erin
Erin

Relationship savings has 5$fee which is avoidable. My email with code is for relationship savings. So i have to have 500$ average monthly on January and then move 15k there.

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