Overdraft Solutions at Fifth Third Bank

Overdraft Solutions

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Overdraft Coverage

Your transactions may be paid on your behalf when there aren’t sufficient funds in your account. Avoid returned checks, late payment charges from your billers, and declined ATM and debit card transactions.

Covers: Checks, automatic bill payments, debit card, and ATM transactions.

Cost: $37 per item. Maximum of five overdraft fees charged per business day. An $8/day fee is assessed if an overdraft is not paid within 5 business days.

Enrollment: If you have any Fifth Third Business Checking Account, you’re automatically enrolled. If you want to change or cancel your OVERDRAFT COVERAGE enrollment, contact us at 1-800-972-3030  or stop by your local Fifth Third Branch.

 

Note: Overdraft payments are discretionary, and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or if you are not making regular deposits, or if you have too many overdrafts. When an item is returned due to insufficient funds, you will be charged $37. 

Overdraft Protection2

Use money set aside in another account as a cushion to cover a negative balance. Avoid overdraft and per-item overdraft fees.

Covers: Any Fifth Third business checking account.

Protecting accounts: Any business checking or savings account, or the Fifth Third Business Rewards Credit Card, can provide Overdraft Protection.

Types of Overdraft Protection:

  • Credit Card (Ready Reserve): Amount available varies based on a combination of credit limit, cash advance limit and other risk factors.
  • Savings and Checking: Based on available balance, up to $99,000.00.

Cost: A $12.00 transfer fee is assessed for each transfer to applicable Consumer, Business Banking, or Commercial checking account unless the overdraft is $5.00 or less. When you overdraw, the exact amount of the negative balance plus the $12 transfer charge will be transferred on the next business day.

Enrollment: Talk to your banker to enroll.