Fifth Third Bank Expands Early Pay to Gig Workers and Beyond

No matter how customers make their money, Fifth Third helps them get it faster

CINCINNATI—Fifth Third Bank, National Association, is focused on making sure its customers have fast access to their money, regardless of how they get paid. Today, the Bank announced it has expanded its Early Pay®1 to include income received from gig work as well as some forms of government and retirement benefits, allowing customers access to their paychecks up to two days early.

"We want to make sure all of our customers have fast access to their liquidity, regardless of where they work," said Tim Spence, president of Fifth Third Bank. "You should have the same banking services regardless of whether you file a 1099, a W2 or are retired. This is Fifth Third’s latest offering in a comprehensive suite of products and services focused on continued innovative solutions."

Customers with a Fifth Third Momentum® Checking account can automatically get their paycheck faster; up to two days early (after one direct deposit). Since Early Pay launched in 2021, hundreds of thousands of accounts have received their pay up to two days early. Fifth Third is continuously evaluating and improving the Momentum Banking suite so its customers can live better and bank easier.

This expansion is another way the Bank is enabling its Fifth Third Momentum Banking customers faster access to their money and addressing liquidity issues. Fifth Third also offers Immediate Funds for faster access to check deposits, as well as MyAdvance™2.

  • MyAdvance – Ability to advance funds of $50 or more against future qualified direct deposits, starting after the customer’s first direct deposit.
  • Immediate Funds – Ability to receive instant availability for check deposits (a small fee is incurred).
  • Extra Time® – Additional time to make a deposit and avoid paying overdraft fees. You can make a deposit any time before midnight Eastern Time (ET) on the business day after your account was overdrawn—to bring your balance up to at least $0.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2022, the Company had $211 billion in assets and operates 1,079 full-service Banking Centers, and 2,201 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2022, had $549 billion in assets under care, of which it managed $61 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB."