How to Unlock Fifth Third Bank's $250 Welcome Bonus With 53 Offer Code

Fifth Third Bank, the Cincinnati-headquartered institution that has been operating since 1858, ranks as the 15th largest bank in the U.S. with approximately $512 billion in assets. The bank maintains an extensive network of over 1,100 full-service banking centers and 2,000 ATMs spread across 11 states, making it a regional powerhouse. For new customers considering a switch, Fifth Third Bank currently dangles a $250 welcome incentive—but qualifying for it requires understanding the specific conditions and using the right 53 offer code.

Understanding Fifth Third’s Current Checking Account Rewards

The bank is actively promoting its checking account offerings to attract new customers. Depending on which account you select, the path to claiming your $250 welcome bonus varies slightly. Fifth Third Momentum Checking stands out as the flagship option with zero monthly maintenance fees, no minimum balance requirement, unlimited check writing privileges, and access to over 50,000 fee-free ATMs through 7-Eleven, Presto!, and the Allpoint network.

For those seeking interest-bearing options, Fifth Third Preferred Checking delivers credit interest with a dedicated support line, though it carries a monthly service charge that can be waived if you maintain a combined balance of $100,000 or more across deposit and investment accounts at the institution.

The Actual Steps to Claim Your $250 Bonus

Earning the promotional reward requires more than simply opening an account. You must either open your account online through Fifth Third Bank’s official offer page or obtain an email-delivered 53 offer code to present when opening in-branch. The critical qualifier: your account must receive direct deposits totaling at least the required minimum through the Automated Clearing House (ACH) system within the first 90 days. These qualifying deposits encompass payroll, pension distributions, and government transfers like Social Security.

Once your final qualifying direct deposit posts to your account, Fifth Third credits the $250 bonus within 10 business days. However, there’s a deadline—you must complete your account opening by December 31, 2022 to remain eligible for this promotion.

Important Details About Taxes and Eligibility

One aspect many overlook: your $250 welcome bonus may trigger tax reporting obligations. Fifth Third Bank typically reports bonuses as interest income on IRS Form 1099-INT, which means consulting a tax professional before opening an account is prudent for accurate planning.

Additionally, Fifth Third’s bonus eligibility has strict parameters. Only new customers qualify—meaning you cannot have an existing checking account with the bank or have closed one within the past 12 months. The bank also reserves the right to restrict account-related promotional incentives to one per calendar year, preventing customers from repeatedly chasing bonuses.

Geographic and Product Limitations

Fifth Third Bank’s service footprint spans 11 states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and West Virginia. Online account opening requires residency within this service area, though in-branch opening is possible elsewhere if you’re willing to travel.

It’s worth noting that Fifth Third does not currently offer separate bonuses for opening investment accounts, though maintaining investment balances at the bank can help you waive the Preferred Checking monthly fee. The bank also hasn’t historically extended referral bonuses for bringing friends or family into its customer base.

How Fifth Third’s Current Deal Compares to Past Offers

Fifth Third Bank has adjusted its welcome incentives over time. The bank previously offered a $700 bonus (expired November 30, 2021) that required $1,000 in direct deposits within 60 days plus a $15,000 balance maintained for 90 days. A $550 direct-mail promotion in 2019 required reaching and maintaining a $20,000 balance within specific timeframes. Today’s $250 offer represents a more streamlined qualification path, making it accessible to a broader range of new customers willing to set up direct deposit arrangements.