How do I open a Momentum® Savings Account?

You can open a Momentum® Savings Account through our online application , via phone by scheduling an appointment with our customer service team, or by visiting any of our branch locations .

Can Smart Savings transfer overdrafts to my account?

It’s unlikely since you’ll specify account thresholds to prevent this from happening. If a transfer takes the funding checking account below your specified threshold, then the transfer won’t take place. If by some chance an overdraft does occur, a process is in place to waive the Overdraft Protection transfer fees on the following business day, and to waive other applicable fees the day of the overdraft.

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Q: What’s required to open a savings account online?

To open a savings account online you’ll need your social security number, driver’s license or state ID, a mobile phone with camera access to scan your ID, and your existing bank account number if you want to make a transfer.

Q: Can Fifth Third Momentum® Savings help me save money?

Fifth Third Momentum® Savings makes saving easy by helping you visualize your goals and automatically save for them. Simply connect your Fifth Third Momentum® Checking account and put your savings on autopilot.

Q: What is scheduled savings?

It's an automatic savings technique, where you select how much and how often you'd like to save, and we make it happen.

Q: What's a saving goal?

Anything you want—a vacation, planning a wedding, building an emergency fund or simply boosting your savings habit! You decide what goal you want to save toward, and we'll help you achieve it.

Q: How many goals can I create?

You can create up to four savings goals at a time.

Q: How do I add money to a goal?

There are two easy ways to do this in the Fifth Third mobile app: From your Fifth Third Momentum® Savings Account, tap Apply to Goals under General Savings. Or you can also transfer money into and out of your goals by selecting New Transfer within your Fifth Third Momentum® Savings Account.

Q: What is Smart Savings and how does it work?

Smart Savings lets you automatically save safe amounts of money throughout the week, so you can reach a weekly savings amount. You can turn Smart Savings on in our mobile app and set up the details. Smart Savings automatically transfers money from one Fifth Third account to your Fifth Third Momentum® Savings account. The transfers take place twice a week on Tuesdays and Thursdays. You can set limits and restrictions on how much can be transferred per every week. While transferred funds are automatically added into your Fifth Third the Momentum® Savings account, they aren’t directly added to your goals. Your saved funds sit in the General Saving balance and can be applied to goals later on. Smart Savings can be turned on or off. Turning off this setting stops the transfers from occurring, but all setup details are saved. To begin automatically saving again, simply turn Scheduled Savings back on. With Smart Savings: Automatic transfers can be as little as $1 a week. Fifth Third will never transfer more than $80 a week, regardless of how much a user asks to be moved. Transfers won’t occur if the transaction would take the funding account beyond the threshold you’ve set. If you desire to save a specific amount each week, use Scheduled Savings instead.

Q: Can I manage Smart Savings through online banking?

Smart Savings is available only through the Fifth Third mobile app. You’re unable to use online banking to manage Smart Savings.

Q: When setting up Smart Savings, what’s the minimum amount for the Checking Account Threshold?

$300 is the minimum threshold amount that can be specified.

A savings account that helps you achieve your financial goals without a second thought.

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Keep your goals on target.

Whether it's a beach getaway, that car you always wanted or a rainy-day fund, Fifth Third Momentum^® Savings can help you reach your goals faster, with easy ways to save. Create a savings goal in your Fifth Third Momentum Savings Account, use our our savings calculator to calculate payments and duration, and start reaching your financial goals.

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Put your savings on autopilot.

You create the goal, we’ll do the saving! Use Smart Savings in our mobile app to save small amounts of money automatically. Or, set up Scheduled Savings through mobile or online banking, or add funds from your free Fifth Third Momentum^® Checking Account to your Fifth Third Momentum^® Savings Account on a regular basis. Then, sit back as we help you reach your goals.

Skip the monthly service charge.

If you meet one of the criteria listed below, the monthly service charge is waived:

You have a Fifth Third checking account (not including Fifth Third Express Banking).
All owners of your savings account must also be listed together as owners on your Fifth Third checking account.
You maintain an average monthly balance of $500 or more.
Someone under age 18 is an owner of the account.
You are enrolled in Fifth Third Military Banking.

Otherwise, just $5/month.

No fees for extra withdrawals or overdraft transfers, either.

You won’t be charged for moving your own money.

Open an online savings account - it’s easy.

Opening a Fifth Third Momentum Savings Account online is easy and only takes a few minutes. Simply click on the button below to get started.

Open a Fifth Third Momentum Savings Account

FAQs

How do I open a Fifth Third Momentum^® Savings Account?

What's required to open a savings account online?

Can Fifth Third Momentum^® Savings help me save money?

What is scheduled savings?

What's a saving goal?

How many goals can I create?

How do I add money to a goal?

What is Smart Savings and how does it work?

Can I manage Smart Savings through online banking?

When setting up Smart Savings, what's the minimum amount for the Checking Account Threshold?

Can a Smart Savings transfer overdrafts to my account?

When Smart Savings is "on" and the goal amount is reached or the goal date has passed, does Smart Savings turn "off"?

Goal—Oriented Savings AccountFifth Third Momentum® Savings

Keep your goals on target.

Put your savings on autopilot.

Skip the monthly service charge.

Open an online savings account - it’s easy.

FAQs

More Smart Ways to Manage Your Money®

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Goal—Oriented Savings AccountFifth Third Momentum^® Savings

More Smart Ways to Manage Your Money^®