Notification of Changes in Fifth Third Goal Setter Savings Accounts and Overdraft Policies beginning June 27, 2012
Beginning June 27, 2012, changes in the Fifth Third Goal Setter Savings Account will occur. If you currently have a Fifth Third Goal Setter Savings Account, the account number will remain the same.
All "per-transaction" fees for excess withdrawals, agent-assisted balance transfers and early account closure have been eliminated.
Fifth Third Goal Setter Savings Account Features Include:
- There is a $5 monthly service charge for these accounts. But this charge will be automatically waived if you:
- Have a Fifth Third checking account with all owners of your savings account also listed as owners of any Fifth Third checking account, OR
- Are a minor-owner or someone under age 18 is an owner of the account, OR
- Maintain an average monthly balance of $500 or more in this account, OR
- Are a current or retired member of the U.S. Military.
Savings Interest Tiers: $0.01 – $9,999; $10,000 – $24,999; $25,000 – $49,999; $50,000 or more (not applicable to Goal Setter). To receive the current interest rates and annual percentage yields (APY), please visit 53.com, stop in your local Fifth Third Banking Center or call 1-800-972-3030.
Your monthly service charge will not begin until January 2013.
Overdraft Policy Changes
- There will no longer be a daily overdraft fee.
- Per item overdraft fees will be based on the number of overdraft occurrences in the past 12 months. For the first occurrence, you will be charged $25 per item. For each additional occurrence, the cost will be $37 per item.
- We believe everyone should have protection from an occasional shortfall. That's why there is no per item overdraft fee when your account is overdrawn by $5.00 or less at the end of our business day.
- If you are enrolled in Overdraft Protection (where funds are automatically transferred from another one of your Fifth Third accounts to cover balance shortages), the charge will be $12 each time funds are transferred.
Goal Setter Savings Account
With a Fifth Third Goal Setter Savings Account, you save to reach your goal — a little at a time. Let us know how much you want to save, and we'll show you the best way to get there and help you track your progress. Plus, we'll reward you once you reach your goal. Get started with our Goal Setter Savings Calculator to see what it will take to reach your goal.
Goal Setter Savings Account Package
Get Started Reaching Your Goal
Your Goal Amount
Set a realistic, yet challenging goal. Fifth Third Goal Setter Savings allows you to choose goal amounts between $500 - $25,000. Get started with our Goal Setter Savings Calculator.
Your Motivation to Save—A Savings Bonus!
Whether it takes you six months or three years to reach your savings goal, Fifth Third will reward you with a cash bonus—equal to the amount of interest you have earned over the life of the account. So, you can double your interest with your bonus for reaching your goal!2 Try our Goal Setter Savings Calculator to see how you can start reaching your goal.
Track Your Progress
Your monthly statement will provide you with an update on your designated goal amount and current progress to reaching your savings goal. Track your progress online with Fifth Third Internet Banking.
Note: If you reach your goal and want to set a new goal for yourself, you can simply contact us at 1-800-972-3030 or visit your nearest Fifth Third Banking Center.
Help us in safeguarding your accounts and your identity.
Want to learn more about managing your money more carefully? Learn how Account Management Services can help.
Special fees that apply to all savings accounts:
** Charged for each day your account is overdrawn; not charged if negative balance is eliminated within 3 business days after the day of the overdraft occurence. Does not apply to ETA accounts.
*** Effective June 27, 2012, fees for all agent-assisted balance transfers and early account closure will be eliminated. For savings accounts, fees for excess withdrawals will also be discontinued.
- Interest is paid only on balances below $50,000. Please request a Rate Sheet for the interest rates and annual percentage yields on this interest-bearing account. The interest rate and annual percentage yield may change. At the bank's discretion, the bank may change the interest rate and annual percentage yield at any time on your account. Your interest begins to accrue no later than the business day Fifth Third receives credit for the deposit of non-cash items (for examples, checks). Interest on your account will be compounded continuously and credited monthly. Fifth Third uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the balance in your account each day. If an account is closed before accrued interest is credited, you will not receive any accrued interest.
- The one-time cash bonus will be issued after your goal has been reached. The bonus is paid at the end of the first statement cycle where the account has been opened at least 185 days and the current balance is equal to or greater than the goal amount (a $500 goal minimum is required, a $25,000 goal maximum is allowed). The bonus amount is equal to the total interest earned on the account from the open date to the date the bonus is paid.
- To keep your savings secure and to help you reach your savings goal, funds cannot be withdrawn or transferred from your Fifth Third Goal Setter Savings Account via an ATM machine or within Fifth Third Internet Banking and Bill Payment.
A $50 minimum balance is required to open this account. A $25 early closure fee will apply to any account closed within the first 180 days of account opening.
* The bonus will only be paid once per account.