Fifth Third Bank $250 Signup Bonus - Step By Step Guide

Fifth Third Bank is currently offering new customers a $250 signup bonus after opening a new account and meeting certain requirements. Here’s what you need to do to earn your Fifth Third Bank signup bonus:

Open a Fifth Third Momentum Checking or Preferred checking account by 12/31/2022 using this link.
Make qualifying direct deposits of $1000 or more within 90 days of account opening.

This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you don’t live in one of those states, you won’t be able to open an account online but you can still open an account in-branch if you happen to be visiting a city that has a branch (I’ll explain how this works in more detail later in this post).

This is a fairly easy bank bonus to earn, especially since there are plenty of data points showing what will trigger the direct deposit requirement. In addition, you can open the Fifth Third Momentum Checking bank account, which comes with no monthly fees or minimum balance requirements.

In this post, we’ll go through the step-by-step directions you can follow to earn your Fifth Third Bank signup bonus. We’ll also look at what you can do if you don’t live in one of the states that Fifth Third Bank operates in, as well as go over what you should do with your Fifth Third account after earning your bonus.

Fifth Third Bank $250 Signup Bonus – Step By Step Directions

Here are the step-by-step directions to earn your $250 Fifth Third Bank signup bonus:

1. Open A Fifth Third Momentum Checking Or Preferred Checking Account By 12/31/2022. The first thing you’ll need to do is open a Fifth Third Bank checking account using a signup bonus link. Here’s a link you can use that will qualify you for the $250 signup bonus.

When you click that link, you’ll end up at the signup bonus page, which gives you two options. If you live in one of the states mentioned at the beginning of this post, you can open your account online. If you don’t live in one of those states or you otherwise can’t open an account online, you’ll need to enter your email address and go to the branch to open your account (Fifth Third Bank will email you an offer code that you present to the banker when you open your account).

You’ll want to open the Fifth Third Momentum Checking account, which comes with no monthly fees or minimum balance requirements. This will make it easy to manage since you won’t have to worry about avoiding fees.

This signup bonus is scheduled to end on 12/31/2022, so make sure to open your account before that date. These bonuses can always end at the discretion of the bank, so it’s best to open your account as soon as you’re able to do so.

2. Complete A Direct Deposit Of $1000 Or More Within 90 Days Of Account Opening. Once you’ve opened your account using the signup bonus link or in-branch with the offer code that was emailed to you, your next step is to complete a direct deposit of $1000 or more within 90 days of account opening.

If you can complete a real direct deposit from your employer, that’ll ensure you meet the requirements. My wife uses Gusto for her payroll, so we’re always able to easily meet direct deposit requirements because of it.

Fortunately, there are a lot of data points showing that most ACH transfers will trigger the direct deposit requirement, so you don’t need to do a real payroll direct deposit to trigger the bonus. A cursory search online shows that ACH pushes from most credit unions seem to trigger the direct deposit requirement. ACH pushes from Chase and Wells Fargo have also worked. Ally Bank may also work to trigger the direct deposit requirement. You’ll know quickly if your ACH push worked. If you don’t see your bonus post within a week, try again with a different bank until it does work.

To clarify, if you aren’t doing a real direct deposit, you’ll want to go to your regular bank account website (or whatever bank account you want to use to trigger the direct deposit requirement), link Fifth Third Bank to that account, then send $1000 or more from that account to your Fifth Third account.

If you are still confused about the terminology I’m using here, I recommend checking out my post, The Ultimate Guide to Bank Account Bonuses. I go into a lot of detail in that post about how to meet direct deposit requirements without doing a real direct deposit. I would call it required reading for anyone interested in bank account bonuses.

3. Your $250 Bonus Will Post Within 10 Business Days. The terms state that once you open the account and meet the direct deposit requirement, your bonus will post within 10 business days. In practice, most people see their bonus post sooner than that – typically within a few days.

If you’re meeting the direct deposit requirement via an ACH push from an external bank, you’ll know fairly quickly whether it worked. If you don’t see your bonus post within a week, then you should try doing an ACH push from another bank until it does trigger the bonus.

And remember, if you aren’t using a real direct deposit, don’t call the bank! You don’t want to draw eyes to your account if you aren’t doing a real direct deposit.

Opening A Fifth Third Bank Account If You Live Out Of State

One interesting thing about Fifth Third Bank is that if you don’t live in a state that they operate in, you can still open an account by going into a branch.

That means if you’re traveling to a state that has a Fifth Third Bank branch, you can go into the branch with the emailed offer code and open your account in person.

This is exactly what I did a few years ago when I was visiting Chicago. I live in Minnesota, which doesn’t have a Fifth Third Bank branch. Chicago, meanwhile, has tons of branches. I emailed myself an offer code, then walked into a branch in downtown Chicago while I was there on a trip. I then asked to open an account and used my Minnesota address and driver’s license to do it.

If you’ve never done this before, you might get nervous about opening a bank account in a city that you don’t live in. You don’t need to be nervous though. Remember that opening an account is good for the banker. They have quotas they need to meet, so you’re helping them when you open an account with them. Most bank employees won’t even care that you don’t live in the state, but if they do ask, you can make up any reason that you want.

When I opened my Fifth Third Bank account, I told them that I have family in Chicago that I visit regularly and I wanted a local bank account for when I’m visiting. In reality, I don’t have any family in Chicago. You can say anything you want.

All told, opening my account in person took me about 30 minutes. That was well worth my time considering what I was earning from the signup bonus.

What To Do With Your Fifth Third Bank Account After Earning Your Bonus

One question many people have after opening a Fifth Third Bank account is what to do with the account after you’ve earned the bonus. If you like Fifth Third Bank and want to use it as your primary bank account, that’s fine. The Momentum Checking Account is free and it has a pretty good website and app. I prefer online banks like Ally, but if you like traditional brick-and-mortar banks, you can use this one.

For most people though, you’ll probably want to close the account after earning your bonus. Since there’s no monthly fee or minimum balance requirement, I generally keep the account open for at least a little bit before closing it just to avoid angering the bank. You can technically close the account as soon as you earn your bonus, but I’d recommend keeping your account open for a few months just so you don’t look like you opened the account solely for the bonus.

The last time I earned this bonus, I kept my account open for six months before closing it. That’s probably more cautious than necessary. If you wait a month or two, that’ll be fine too.

The reason you may want to close your account as soon as you can is so that you can reset the clock on when you can open another Fifth Third Bank account. Specifically, the bonus terms state the following:

“Offer is not available to existing Fifth Third checking customers or to those with a Fifth Third Checking account that has been closed within the last 12 months.”

That means you are eligible to earn another Fifth Third Bank account bonus 12 months after you close your account. Depending on where you live and how easy it is to open your account, you should be able to earn this bonus every year.

With respect to closing the account, it’s simple. You can either send a secure message via the website or call customer service.

In short, wait at least a month or two after earning your bonus to close your account. It’ll make things better for everyone.

Final Thoughts

Fifth Third Bank is a traditional brick-and-mortar bank that regularly offers a signup bonus for new customers. The good thing is that the Momentum Checking account comes with no monthly fees or minimum balance requirements, which makes it an easy bank account to manage. The bonus also posts quickly and there are a lot of ways to trigger the direct deposit requirement without having to do a real payroll direct deposit.

Since I live in a state where Fifth Third Bank doesn’t operate in, I can only get this bonus when I happen to be traveling in a place that has a branch. If I lived in one of the states they operate in, I’d grab the bonus every year.

Bank account bonuses are a great way to generate some extra income and if you’re in a position to do so, you should take advantage of them. Everyone should consider reading my Ultimate Guide to Bank Account Bonuses, which is a great resource that will walk you through the major things you should know about how bank account bonuses work.

More Recommended Ebike/Scooters

Check out these other ebikes/scooters I've had the chance to do a review for:

GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

M1 Finance ($10) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

More Recommended Bank Account Bonuses

If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
Upgrade ($100) – Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Importantly, this bonus says that it’s now scheduled to end on October 31, 2022. As long as you get your account opened before October 31st, you should be eligible. Here’s a post I wrote with more details: Upgrade $100 Referral Bonus – Step By Step Directions.
SoFi Money ($350) – SoFi Money is a free checking account from SoFi. They’re currently offering a $25 referral bonus if you open a SoFi account with a referral link and deposit $10. You can also make an additional $300 as well if you complete a direct deposit. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
Fifth Third Bank ($250) – This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you don’t live in one of those states, you won’t be able to open an account online but you can still open an account in-branch if you happen to be visiting a city that has a branch. This is a fairly easy bank bonus to earn, especially since there are plenty of data points showing what will trigger the direct deposit requirement. In addition, you can open the Fifth Third Momentum Checking bank account, which comes with no monthly fees or minimum balance requirements. Read my guide on this bonus here.
Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.
Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
Spiral ($50) – Spiral is a fintech bank that's currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it's a free checking account and doesn't require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.
One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.
Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.
Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
Upgrade Bank. Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Note that it’s now scheduled to end on October 31, 2022.
Novo Bank. Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. It’s the business checking account I currently use for this blog.
M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account.
Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.