Fifth Third Bank

Frequently Asked Questions About Overdraft Services


Overdraft Coverage FAQs


What is Overdraft Coverage?

Overdraft Coverage allows debits and payments to be made even if you don't have enough money in your account1

What is covered by Overdraft Coverage?

Overdraft Coverage allows a payment to be made even if you don't have enough money in your account1. Fifth Third extends standard Overdraft Coverage automatically to eligible accounts2

Benefits of Standard Overdraft Coverage

With standard Overdraft Coverage, you can avoid returned checks and associated fees as a result of returned payments.

Overdraft Coverage can also be used to cover other types of transactions. Make your choice and inform us if you want to receive Overdraft Coverage for the following transactions:

  • ATM withdrawals and transfers
  • Everyday Debit Card purchases3

How are Overdrafts paid with the Overdraft Coverage service?

When a payment is presented (such as a check, electronic debit, debit card purchase or ATM withdrawal) and you do not have enough money in your account, Fifth Third Bank will cover the item for you for a fee and you are responsible for paying us back for the negative balance amount.

How may Overdraft Coverage be used to cover ATM transactions and Debit Card purchases?

Examples of how Overdraft Coverage may be used to cover ATM transactions and Debit Card purchases:

ATM Example
Your available balance is $50. You attempt to make a $60 ATM withdrawal.

  • With Overdraft Coverage – your withdrawal is allowed, resulting in a negative balance and you may receive an overdraft fee if no deposits are made on time.
  • Without Overdraft Coverage – your withdrawal is denied.

Debit Card Example
Your available balance is $50. You attempt to buy $60 worth of groceries using your debit card.

  • With Overdraft Coverage – your purchase is allowed, resulting in a negative balance and you may receive an overdraft fee if no deposits are made on time.
  • Without Overdraft Coverage – your card is declined.

Do I need to enroll to receive the Overdraft Coverage service?

You DO NOT need to enroll in this coverage:

Fifth Third extends standard Overdraft Coverage automatically to eligible accounts2 to help cover the following types of payments:

You DO need to enroll in this coverage:

Overdraft Coverage can also be used to cover the following types of transactions, you must inform us if you want to receive Overdraft Coverage:

  • ATM withdrawals and transfers
  • Everyday Debit Card purchases3

For more information and to compare your options for managing your everyday banking needs, view our Account Management Services Online Tutorial or visit a Fifth Third Banking Center



How much does it cost to enroll in Overdraft Coverage?

There is no charge unless the service is used.

How much does Overdraft Coverage cost if I use the service?

There are no daily overdraft fees.

If Overdraft Coverage is used, the per item fees are as follows:

  • One (1) occurrence in the past 12 months = $25 per item
  • Two (2) or more occurrences in the past 12 months = $37 per item

Also, we think everyone should have some protection from an occasional shortfall. That's why you're never charged a per item overdraft fee when your account is overdrawn by $5 or less at the end of our business day.

What is the amount of Overdraft Coverage on my account?

Payments are covered up to your Overdraft Coverage amount. The amount of Overdraft Coverage on your account varies depending on your account history including average account balance, overdraft history and age of your account. You can always contact us to find out what your current Overdraft Coverage amount is. The Overdraft Coverage amount is subject to change and may be reduced without prior notice

If I am an existing Fifth Third customer, and I do not choose Overdraft Coverage starting June 11, 2010 when does my service stop?

If we do not hear from you by August 11, 2010, we will no longer authorize and pay overdrafts for ATM or everyday Debit Card transactions


Overdraft Protection FAQs


What is Overdraft Protection and how is it different from Overdraft Coverage?

Overdraft Protection uses funds from your existing Fifth Third savings account, credit card, or line of credit to help you avoid being overdrawn. It may also allow you to make a Debit Card purchase if you do not have enough money in your account. Overdraft Protection may be an additional layer of security for you to help manage your everyday banking needs

How are Overdrafts paid with the Overdraft Protection service?

Money for the overdraft is transferred from a pre-designated Fifth Third account (savings, credit card, line of credit) with a servicing fee.

Do I need to enroll to receive the Overdraft Protection service?

Yes. To sign up, visit your nearest Fifth Third Banking Center or call
1-800-972-3030 today.

Having both Overdraft Protection and Overdraft Coverage may offer you additional protection for those unplanned expenses and/or emergencies. Compare your Overdraft options to learn more.

How much does it cost to enroll in Overdraft Protection?

There is no charge unless the service is used.

How much does Overdraft Protection cost if I use the service?

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 per transfer

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  1. Writing checks, withdrawing money at the bank or ATM or other electronic device may result in your account being overdrawn.
  2. Most personal checking accounts offer Overdraft Coverage.
  3. Everyday debit card purchases are defined as one-time debit card purchases and do not include recurring debit card payments – regularly scheduled electronic bill payments through your debit card account number.