Banking » Compare Banks » Chase vs. Fifth Third Bank: Which Bank Account Is Better?
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Chase vs. Fifth Third Bank: Which Bank Account Is Better?

We believe Chase is the preferred option in this battle. But, there are significant differences to know. Here's our comparison:
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Chase and Fifth Third Bank are two prominent financial institutions in the United States, each offering a range of banking services. In this article, we will conduct a thorough comparison of their bank accounts to help you make an informed decision.

Checking Accounts

There is no clear winner when it comes to checking accounts. 

Chase and Fifth Third Bank both offer a wide range of checking account options, each with unique features. Usually, Chase surpass other banks with its variety of different account purposes, but not in this case, as Fifth Third has special accounts for disabilities, kids, military, and other special situations.

Chase Bank offers a variety of checking account types to suit the diverse needs of its customers. One notable option is the Total Checking account, which provides access to a widespread network of ATMs and a range of digital banking tools.

For customers with a premium banking preference, Chase presents the Sapphire Checking account and private client checking, renowned for its exclusive benefits like enhanced travel rewards.

Account
Monthly Fee
Average Day Balance To Waive
Chase Total Checking
$12
$1,500
Chase Premier Plus Checking
$25
$15,000
Chase Sapphire Checking
$25
$75,000
Chase College Checking
$12
$1,500
Chase Private Client Checking
$30
$150,000
Chase Business Complete Banking
$15
$2,000
Chase Performance Business Checking
$30
$35,000
Chase Platinum Business Checking
$95
$100,000
Chase compare checking accounts on app
Chase compare checking accounts on app (Screenshot from Chase app)

Fifth Third offers various checking accounts for many purposes, such as accounts for students and kids, military families, and individuals with disabilities.

There is a free checking account but also premium accounts with higher monthly fees and more benefits. The monthly fees can be waived in many ways such as carrying over $100,00 in your total balance.

Fifth Third Bank Account
Monthly Fee
Average Day Balance To Waive
Fifth Third Momentum® Checking
$0
N/A
Fifth Third Preferred Checking
$25
$100,000
Fifth Third Student Checking Account
$0
N/A
Fifth Third Express Banking
$0
N/A
Fifth Third ABLE Checking
$2
$250
Fifth Third Military Checking
$0
N/A

In the following screenshot taken on the Fifth Third app, we can see the different checking options and how easy is to apply for a checking account:

Fifth Third Checking Options
(Screenshot from Fifth Third app)

Chase provides checking accounts that come with a bunch of helpful features to meet different money needs. The Chase Everyday Accounts are easy to get started with since there's no need for a big initial deposit. Plus, with over 15,000 ATMs and 4,700 branches, it's super easy to access your money.

If you go for a Chase Premium Account, you get even more perks for a top-notch banking experience. You won't be charged by Chase for using ATMs outside their network, giving you lots of places to get cash without extra costs.

For those looking to streamline their income, the direct deposit setup is user-friendly. The app generates a direct deposit form with all the necessary details, making it convenient for users to provide their employers with the required information for direct paycheck deposits:

Chase setup direct deposit form
(Screenshot from Chase app)

There's also a special 24/7 banking service line, so you can get help anytime you need it. Premium account holders enjoy higher daily purchase and ATM withdrawal limits for added flexibility.

Chase Bank Account
Main Features
Chase Total Checking
Overdraft assist, chase credit journey, alerts
Chase Premier Plus Checking
Interest on balance, free checks , free counter checks
Chase Sapphire Checking
JPM wealth management, no ATM fees, no wire transfer
Chase College Checking
No monthly fees, free credit score, new account promotion
Chase Private Client Checking
Priority service, preferred rates, J.P. Morgan advisor
Chase Business Complete Banking
Chase QuickAccept, fraud protection, chase business online
Chase Performance Business Checking
No cost wires, unlimited electronic deposits, Chase business
Chase Platinum Business Checking
No fee transactions, cash management support, platinum service

Fifth Third Bank's checking accounts offer a range of benefits designed to cater to various financial needs. The basic accounts provide customers with unlimited check writing, round-the-clock access to mobile and online banking, Early Pay options for quicker access to paycheck and more.

For those opting for premium checking, the advantages extend to better loan rates and the added security of Fifth Third Identity Alert.

Fifth Third Bank Account
Main Features
Fifth Third Momentum Checking
Unlimited check writing, 24/7 mobile and online banking, Early Pay
Fifth Third Preferred Checking
Better loan rates, Fifth Third Identity Alert
Fifth Third Student Checking
Debit card, unlimited check writing, online bill pay
Fifth Third Express Banking
Check cashing and deposits, tools to build credit, Debit Card.
Fifth Third ABLE Checking
Debit card, unlimited check writing, no overdraft or non-sufficient funds fees
Fifth Third Military Checking
Special VA home loan rates, 10 free non-Fifth Third ATM transactions per month
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• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
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Promotion:
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UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
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• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
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Savings Accounts

There is no clear winner when it comes to savings accounts, as both banks offer similar rates. and anyway, the rates are, falling below the rates available with other savings accounts.

Fifth Third Bank also offers money market which is not available through Chase, but the rates are quite low on those product as well.

Fifth Third Savings
Chase Premier Savings
Savings Rate
0.01%
0.01%
Minimum Deposit
$0
$25
Fees
$5 The monthly service charge for Fifth Third savings accounts is waived if you meet any of the following criteria: having a Fifth Third checking account, having all savings account owners listed on the Fifth Third checking account, maintaining an average monthly balance of $500 or more, having an account owner under 18 years old, or being enrolled in Fifth Third Military Banking.
$25 per month Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account

Certificate Of Deposits (CDs)

When it comes to CDs, Fifth Third Bank is our winner due to its better CD rates.  Both Chase and Fifth Third Bank offer higher rates only on specific CD terms, so customers have no options to combine short and long-term CD options or use strategies such as CD laddering.

Chase offers two primary CD categories: Standard and Relationship. Individuals without a Chase checking account can opt for the Standard CD. On the other hand, those with an existing Chase checking account can link it to their CD account to unlock slightly higher APYs through Relationship CDs.

CD Term
APY
Early Withdrawal Penalty
3 Months
2.00%
90 days of interest
6 Months
3.00%
180 days of interest
9 Months
4.00% – 4.75%
180 days of interest
12 Months
2.00%
180 days of interest
18 Months
2.50%
180 days of interest
24 Months
2.50%
365 days interest
30 Months
2.50%
365 days interest
36 Months
2.50%
365 days interest
48 Months
2.50%
365 days interest
60 Months
2.50%
365 days interest
120 Months
2.50%
365 days interest

Chase also offers featured CDs with higher rates for specific terms.

Chase CD details
Chase CD details (Screenshot from Chase app ,rates are not updated)

Fifth Third Bank offers a variety of terms of up to 10 years, but only special CDs with specific terms earn a competitive rate, while the rest of the terms present a low rate.

The rate on special CDs is higher than what you can get with Chase. However, the minimum deposit of $5,000 for the higher rates is larger than other banks.

Fifth Third Bank CDs
5 Month
5.20%
7 Month
5.00%
12 Month
4.30%
Minimum Deposit
$5,000

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Credit Cards

When it comes to credit cards, Chase is our winner due to its various credit cards for any type of customer including travel, cash back, and store cards, many redemption options, and luxury cards.

Fifth Third bank offers four credit cards, for three types of customers: those who are looking to cash back, those who want to transfer their balance or finance a big purchase with low intro APR, or those who need to build credit with a secured card.

Card
Rewards
Bonus
Annual Fee

Fifth Third cash back card

Fifth Third 1.67% Cash Back
1.67% Unlimited 1.67% cash back with every purchase
N/A
$0

Fifth Third intro APR card

Fifth Third Low Intro Rate
1% Unlimited 1% cash back on every purchase
0% Intro APR: 21 months on purchases and balance transfers
$0

Fifth Third preferred cash back

Fifth Third Preferred Cash Back (Exclusively for Fifth Third Preferred Banking Clients)
2% unlimited 2% cash back with every purchase
N/A
$0

Fifth Third secured

Fifth Third Secured Card
N/A
N/A
$24

One cool thing about Chase credit cards is they have really good rewards programs. You can get cash back or points for travel, giving you some great options to benefit from using their credit cards.

A standout feature is the flexibility to redeem points for travel via the Chase Ultimate Rewards program. Cardholders can seamlessly book flights, hotels, and rental cars directly through the Chase portal, often at enhanced values. This versatility enhances the overall appeal of Chase credit cards, making them a preferred choice for individuals seeking tailored rewards and valuable benefits.

Card
Rewards
Bonus
Annual Fee

chase_sapphire_preffered

Chase Sapphire Preferred® Card
2X – 5X 5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
$95

Chase Freedom Flex

Chase Freedom Flex℠ Card
1-5%
$200
$0

chase freedom unlimited card

Chase Freedom Unlimited®
1.5% – 5% 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
$200 Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
$0

Chase Sapphire Reserve®
1X – 10X

5X total points on air travel and 10X total points on hotels, car rentals and dining when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases.

60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
$550

Marriott Bonvoy Boundless Card review 2019

Marriott Bonvoy Boundless Card
1x – 6X 6X points for every $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® credit card. Plus, earn up to 10X points from Marriott for being a Marriott Bonvoy® member. Plus, earn up to 1X point from Marriott with Silver Elite Status. Earn 3X points for every $1 on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining. Earn 2X points for every $1 you spend on all other purchases.
3 Free Nights 3 Free Nights (each night valued up to 50,000 points) after you spend $3,000 on purchases in your first 3 months from your account opening
$95
united explorer
United Explorer Card
1X – 2X 2x per $1 spent on United purchases, hotel accommodations, restaurants & eligible delivery services and 1x per $1 spent on all other purchases
50,000 miles 50,000 miles after you spend $3,000 on purchases in the first 3 months your account is open.
$95 ($0 first year)

Mortgage And Loans

Fifth Third Bank is our winner when it comes to lending options, as it offers more options for borrowers than Chase.

Fifth Third Bank's lending options aim to simplify borrowing for various needs. Their Home Loan Center offers a range of mortgage solutions, ensuring personalized assistance in the home buying process. In addition, Fifth Third provides auto financing for those looking to purchase a vehicle, with flexible terms and competitive rates.

Personal Loans and lines of credit cater to diverse financial needs, offering flexibility for various expenses, while equity lines & loans provide options for homeowners to leverage the equity in their properties.

Chase stands out in the lending arena, particularly excelling in two primary categories: auto loans and home loans. With auto loans, Chase offers comprehensive solutions for financing vehicle purchases.

Their expertise extends to home loans, where they cater to a diverse range of homeownership needs. Chase's mortgage offerings include fixed-rate and adjustable-rate loans, government-backed options, and specialized programs.

Which Bank Is Our Winner?

There is no clear winner as both banks offer great options when it comes to checking accounts which is the main parameter on our comparison. While Fifth Third Bank stands out for CDs and lending options, Chase is better when it comes to credit cards.

Yet, choosing between them requires considering your needs—like banking services, overdraft support, ATM convenience, and location proximity. Different factors matter to different people, so take your time to evaluate what's essential for you before making a decision.

Comparing Chase and Fifth Third Bank: Our Methodology

In our detailed banking comparison, The Smart Investor team thoroughly looked in five main areas in both banks and compare them side by side:

  • Checking Accounts (30%): We checked things like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers for customers.

  • Savings Accounts including CDs (20%): We focused on important stuff like how much interest you can earn (APY), the smallest amount you need to open an account, how flexible the accounts are, and if they're insured by FDIC. We also looked at special savings offers, different types of CDs, and any fees for taking money out early.

  • Credit Cards (15%): We looked at what rewards you get, how much the card costs each year, any bonuses you get for signing up, perks for traveling, how much interest you pay on balances, and if you can transfer balances from other cards.

  • Lending Options (15%): We checked out the different kinds of loans they offer, like personal loans, student loans, mortgages, and loans where you use your home as collateral.

  • Customer Experience And Bank Reputation (20%): We looked into how easy it is to use their online and mobile banking, how helpful their customer support is, what people say about them online, any awards they've won, and how stable they are financially. This gave us a good idea of what it's like to be a customer and how much people trust them.

Compare Fifth Third Versus Other Banks

While Bank of America and Fifth Third Bank offer a range of banking services, Fifth Third is our winner in this competition. Here's why: Bank of America vs. Fifth Third Bank

Fifth Bank may be better than Wells Fargo when it comes to checking accounts, but is it enough? See our complete comparison, and our winner: Wells Fargo Bank vs. Fifth Third Bank

Huntington and Fifth Third Bank provide various banking services, and figuring out which is best can be tricky. Here's our comparison: Fifth Third Bank vs. Huntington Bank

Overall, we like Fifth Third a bit more than Truist bank, mainly due to the various checking options. Truist is better in credit cards.

Truist Bank vs. Fifth Third Bank

PNC Bank and Fifth Third Bank are two big players when it comes to brick-and-mortar banking. Let's compare them and see which is our winner: PNC Bank vs. Fifth Third Bank

Our winner is U.S. Bank as it offers better package banking than Fifth Bank, but there are cases when Fifth Bank wins. Here's our comparison: U.S. Bank vs. Fifth Third Bank

Compare Chase Versus Alternative Banks

Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.

American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.

Read Full Comparison: American Express vs Chase Bank

Chase and Wells Fargo appear to offer very similar products at first glance, so we need to dig a little deeper. There is little to distinguish the savings accounts, and both banks provide a variety of checking accounts.

While Chase's account maintenance fee is slightly higher, it does have some more interesting features. Chase also has an advantage in terms of CDs, but Wells Fargo is a better option for loans and mortgages.

Read Full Comparison: Chase vs Wells Fargo: Where to Save Your Money?

The Chase and Citi checking accounts both have no minimum deposit and a monthly account maintenance fee of $12. This can also be waived with a balance of $1,500 or more, or with qualifying deposits.

Furthermore, both have a very impressive selection of more than credit card options.

Read Full Comparison: Chase vs Citi: Which Bank Account Wins?

The Discover checking account is more traditional. While the account does not pay interest, you can earn 1% cash back on debit card purchases. There are also no fees if you require a replacement debit card, have a deposit item returned, or have insufficient funds in your account.

Chase offers a wide range of banking products, including savings accounts, checking accounts, home loans, home equity options, auto loans, and a wide range of credit cards. In addition, Chase's customer service system is quite extensive.

Read Full Comparison: Discover vs Chase: Which Bank Account Suits You Best?

Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.

Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?

Because both Chase and TD Bank provide a comprehensive range of products, we'll need to summarize the benefits and drawbacks to determine which bank is superior.

Chase offers some novel features, including the possibility of comparable CD rates without the TD Bank's minimum deposit. However, there is little to distinguish the checking accounts, as TD Bank's savings rate is twice that of Chase.

Although Chase has more credit card options, don't discount TD Bank, which has some interesting options.

Read Full Comparison: Chase vs TD Bank: Which Bank Suits You Best?

Chase and Capital One both have banking product lines that compete with traditional high street banks.

Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.

However, when you open a qualifying account, Chase will give you a welcome bonus, and its checking account has some nice features such as paperless statements for up to seven years and checking account upgrade options.

Read Full Comparison: Chase vs Capital One: Compare Banking Options

Both banks have account maintenance fees that can be waived by meeting one of several requirements. The rates are also quite similar, so which bank is best will come down to what products you’re looking for.

Bank of America vs Chase: Which bank is best?

While Chase and U.S. Bank offer many banking services, Chase Bank is our winner in this competition. Here's why – and what else to know:

Chase vs. U.S. Bank: Which Bank Account Is Better?

While Truist is a full service bank where you can find almost any financial product, Chase is our winner. Here's why – and what else to know:

Chase vs. Truist Bank: Which Bank Account Is Better?

We'll explore Chase and BMO Bank savings accounts, checking accounts, CDs, credit cards, and lending products. Here's our winner:

In our opinion, Chase is the preferred option in this battle. But, there are significant differences between products. Here's our comparison:

In our opinion, Chase is the preferred option in this battle. But, there are significant differences between products. Here's our comparison.

Chase vs. M&T Bank: Which Bank Account Is Better?

While Huntington Bank offers some better conditions when it comes to CDs and lending options, Chase is our winner. Here's why: Chase vs. Huntington Bank

Even though Regions Bank has better terms for CDs and loans, we're leaning towards Chase. Here's why, and our complete banking comparison: Chase vs. Regions Bank

Chase is the largest brick-and-mortar bank, while Ally Bank is among the best online banks. Here's our comparison and our winner: Chase vs. Ally Bank

Chase Bank is our winner, while Amex and Chase offer great banking services and credit card portfolios. Here's our side-by-side comparison: American Express Bank vs. Chase Bank

Chase is our winner as it is a better fit for most consumers than HSBC bank. But, there are important things to consider when comparing them: Chase Bank vs. HSBC Bank

Both Chase and Barclays offer a significant portfolio of banking services for US-based customers, but Chase is our winner. Here's why: Chase Bank vs. Barclays Bank

Chase Bank is our winner with a complete package of banking services. SoFi is best for savings rates, online experience, and lending options.

Chase vs. SoFi: Which Bank Account Is Better?

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
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With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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