Fifth Third Preferred Checking is the premium checking account of a modern financial institution looking to strengthen its position in the market. That’s why it offers an exclusive product for clients who maintain a more substantial financial relationship with the bank. More than just a simple account, it works as a relationship package, providing additional perks, reduced fees, and access to personalized financial guidance.
By consolidating investments, savings, and banking services within Fifth Third, clients gain access to exclusive advantages ranging from discounts on credit products to priority customer service, making the banking experience more complete and convenient. Learn more about how this account works and everything it offers!
Main Features
Preferred Checking combines standard banking services with premium benefits. Clients have access to a Mastercard debit card with added protection, digital transfers and payments, mobile check deposit, and an extensive ATM network across the United States.
One highlight is the waiver of the monthly maintenance fee for clients who keep at least $100,000 in combined balances of deposits and eligible investments with the bank. In addition, the account allows multiple linked checking and savings accounts. But it has no extra cost, making it easier to organize family finances.
Another strong point is access to the Fifth Third Preferred Program, which includes priority service, benefits on loans and mortgages, as well as investment advice from the bank’s specialists.
Exclusive Benefits
Preferred Checking account holders enjoy fee waivers on a variety of services, such as wire transfers, cashier’s checks, out-of-network ATM usage, and even discounted rates on personal loans and lines of credit.
The account also provides preferred rates on certificates of deposit and mortgages, along with special conditions for those who choose additional products, such as Fifth Third credit cards.
Another valuable benefit is access to dedicated financial advisors who assist with investment planning, wealth management, and asset growth strategies.
Fees and Conditions
The standard monthly fee for Fifth Third Preferred Checking is $25, but it can be waived under certain conditions. This requirement reinforces the premium nature of the account, geared toward clients with higher net worth. Deposits are insured by the FDIC up to $250,000 per depositor, ensuring protection of assets.
Meanwhile, the minimum opening deposit is symbolic. However, the real differentiator lies in maintaining the required balances to fully unlock the benefits. On the other hand, it’s worth checking the most up-to-date fees before opening the account. Despite the waivers, the bank’s policy may change.
Who Is It For?
Fifth Third Preferred Checking is designed for high-net-worth clients who want to centralize their finances and take advantage of a premium service package. It’s ideal for families needing multiple linked accounts without extra costs. It also caters to investors already using Fifth Third for financial products. Overall, clients who value personalized service and preferential credit rates may find it appealing.
High-income professionals, business owners, and individuals seeking convenience and exclusive perks by consolidating their banking relationship will find Preferred Checking a practical solution.
How to Open a Fifth Third Account?
Opening Preferred Checking can be done online through the official Fifth Third Bank website or in person at one of its branches. Applicants must provide personal information and identification documents, as well as make the initial deposit.
To maximize the benefits, it’s recommended to transfer assets or maintain deposits with the bank right away. This ensures compliance with the minimum balance requirement and, therefore, the waiver of the monthly fee. Clients who open the account at branches can also benefit from personalized advice to build a complete financial plan.
Is Fifth Third Preferred Checking Worth It?
Fifth Third Preferred Checking is a premium account that stands out for its exclusive perks. With integration into investment products and differentiated service, it appeals to a wide audience. Although it has a maintenance fee, it can be easily waived for clients who keep large balances with the bank, making the account a highly competitive option.
For those looking for convenience, access to financial advisors, and additional benefits on credit and investments, the account offers excellent value. However, for clients who don’t meet the balance requirements, a more traditional checking account may be a better fit.
Overall, Fifth Third Preferred Checking is a solid choice for high-income clients who want to centralize their finances with a trusted institution and gain access to premium banking services.
All information in this and other US PIXIN articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
REFERENCES:
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