Understanding overdrafts
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What is an overdraft?
Your account becomes overdrawn when there is not enough money in your account to pay for a transaction. The bank may pay for this transaction and charge you a fee.1
You get to choose how we handle these transactions by making your overdraft coverage selections. Check out the options below to see how you can stay covered.
Standard Overdraft Coverage
Did you know your Fifth Third checking account automatically comes with Standard Overdraft Coverage for checks, ACH and bill payment transactions? If you decide you don’t want the bank to pay for these transactions and should decline them instead, you can check your enrollment status or opt-out of Standard Overdraft Coverage by calling us at 800-972-3030 or visiting your nearest Fifth Third branch.
Optional Overdraft Coverage for debit cards and ATM transactions2
You also have the option of enrolling in Optional Overdraft Coverage for everyday debit card purchases and ATM transactions, which means you can still make a purchase, even when there’s not enough money in your account. To check your enrollment status and enroll in Optional Overdraft Coverage, simply log in to online banking, call us
at 800-972-3030, or visit your nearest Fifth Third branch.
Ready to enroll? It’s easy to get started:
Understanding the fees
- If you accept Standard or Optional Overdraft Coverage the fee for each overdraft will be $37 per item, regardless of the number of past occurrences.*
- If you decline Standard or Optional Overdraft Coverage your transactions are automatically declined and no per item overdraft fees are applied to those transactions
- Fee limits: No per-item overdraft fees will be charged if your account is overdrawn by $5 or less at the end of the business day and no overdraft fees will be charged on any individual item of $5 or less. Additionally, a maximum of only three overdraft fees will be charged per day.
*Excludes Fifth Third Express Banking® accounts