[Expired] [FL, GA, IL, IN, KY, MI, NC, OH, TN, WV, In Branch] Fifth Third $200 + $200 Checking Bonus – Direct Deposit Not Required

Deal has expired, but there is now a $250 bonus instead. More information here.

Small update: You don’t actually need to open in branch. After you e-mail yourself the coupon it’s possible to open the account via phone. Still not as easy as online opening, but at least you don’t have to go into a branch. Hat tip to reader Dan.

Offer at a glance

• Maximum bonus amount: $400
• Availability: Only in the following states: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV. Must be opened in branch  (may be only for those within a 50-mile radius of a branch).
• Direct deposit required: No
• Additional requirements: Maintain $500 for 60 days or Maintain $15,000 for 90 days
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: $11, avoidable
• Early account termination fee: None listed
• Household limit: None
• Expiration date: September 30th, 2018 December 31st, 2018

The Offer

Direct link to offer

• Fifth Third is offering a checking bonus of up to $400, bonus is broken down as follows:
  • Get a bonus of $200 when you open a new fifth third checking account and reach a balance of $500 within 45 days and then maintain a minimum daily balance of $500 for 60 days from the date the balance requirement is reached
  • Get an additional $200 when you meet the requirements listed above and increase your total deposit balances by $15,000 within 45 days of account opening and maintain a minimum daily balance of $15,000 for 90 days

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
• Offer is not available to existing Fifth Third checking customers or to those with a Fifth Third Checking® account that has been closed within the last 12 months

Avoiding Fees

If you’re in an area that has free checking, that account is also eligible.

Essentials Checking $11 Monthly Fee

Essential Checking account is required for this bonus and has an $11 monthly fee. The fee can be waived by maintaining an average monthly balance of $1,500 or more across your savings and checking accounts.

Early Account Termination Fee

This account does not have an early account termination fee

Our Verdict

Update: Deal is better than first thought as it looks like you can put the $15,000 into an 11 month CD that earns 2% APY.

Previous best offer was $300 (same requirements as the $200 bonus in this one), so this is basically an extra $100 for keeping $15,000 deposited for 90 days. If those funds were put in a 2% account you’d earn $74 so the deals are similar in that respect (although you could have the funds in an account earning up to 5% APY). We also haven’t seen the $300 bonus since last year and even then it has only been offered once, the standard bonus is $200 (sometimes $250). Another downside to this offer is that it requires opening in branch. I think if you have the $15,000 in funds available I’d do this deal, otherwise definitely just wait for a bigger bonus to come along. I’ll be adding this to our best checking account bonus page.

Big thanks to reader, Preserve who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times