Bank / Credit Union

Fifth Third to eliminate non-sufficient fund fees

April 14, 2022

Fifth Third Bank recently announced that as of June 23rd, it will eliminate all non-sufficient fund fees for all accounts, according to a press release.

"Our goal is to help customers access their own money and save for the future," Howard Hammond, head of consumer banking at Fifth Third, said in the release. "When a customer does not have the funds to cover a transaction or purchase, we don't want to penalize them further. We want to elevate our customers' financial strength. That's why we continue to innovate and provide customers the widest possible range of options to gain access to their money faster and avoid fees to cover a cash-flow shortfall."

The bank has offered a variety of tools to help customers, such as Extra Time, which allows users additional time to a make a deposit to avoid overdraft fees.

"Our customers cannot predict or plan for every life event, so it is important that we make their banking experience and accessing their money straightforward while limiting — or eliminating — fees," Hammond said in the release. "Options like Extra Time are ideal for customers to get their finances in order and avoid charges."