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Fifth Third Bank $150 Signup Bonus – Step By Step Guide

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The current promotion has been paused. I will update this post if it comes back.

 

Fifth Third Bank is currently offering new customers a $150 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: 

  1. Open a Fifth Third Momentum Checking or Preferred checking account by 9/30/2023 using this link.
  2. Make qualifying direct deposits of $500 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 $150 Signup Bonus – Step By Step Directions 

Here are the step-by-step directions to earn your $150 Fifth Third Bank signup bonus: 

1. Open A Fifth Third Momentum Checking Or Preferred Checking Account By 9/30/2023.  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 $150 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).

Fifth Third Bank Promo

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 9/30/2023, 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 $500 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 $500 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 $500 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 $150 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 and scooters I've reviewed:

  • Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
  • Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
  • Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
  • Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
  • KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
  • Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
  • Himiway Escape Ebike – 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 Ebike – 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.
  • Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
  • Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
  • Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R 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 ($100) – 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 $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
  • Moomoo (15 free stocks and 1 stock of Tesla or Google) – Moomoo is a free investing app currently offering 3 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
  • Webull (12 free stock shares) – Webull's current promotion gives you 12 free shares 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 shares 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.
  • 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.

Recommended Bank Account Bonuses

If you’re looking for 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 ($150) - 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.
  • SoFi Money ($275) – 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 $250 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.
  • Upgrade ($150) – Upgrade is a free checking account that’s currently offering a $150 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $150 Referral Bonus – Step By Step Directions.
  • US Bank Business ($800) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
  • GO2Bank ($100) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $100 referral bonus.
  • 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.
  • Netspend ($40 + 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 $40 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 $40 to start! Make sure to check out my in-depth guide on how to set up these accounts.
  • Digital Federal Credit Union ($20) – Digital Federal Credit Union (DCU) is a free, nationwide credit union that I recommend to readers for two reasons. First, DCU has a $20 referral bonus if you open a free DCU checking account with a referral link. Second, DCU has a saving account that gives you 6.17% interest on your first $1,000. Check out my in-depth post on how to set this account up.
  • 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.
  • Varo ($30) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $30 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.
financial panther

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 $250 if you complete a direct deposit.
  • 5% Savings Accounts. I'm currently getting 5.25% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
  • US Bank Business. US Bank is currently offering new business customers a $800 signup bonus after opening a new account and meeting certain requirements.
  • 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 $100 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.

Feel free to send Kevin a message here.

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