Fifth Third Bank

Report Card
B+
Overall Grade
B
Mortgages Grade
A
Debt Collection Grade
B-
Credit Cards Grade
Fifth Third Bank is rated overall in the top 82 percentile (out of 100) based on 1,944 customer complaints.

Statistics

Complaints Currently In-Progress5
Complaints per $100K of Deposits19.3
Complaints Resolved in a Timely Manner99.5%
Resolutions Disputed by Customer19%
Average Time Until Resolution27 days

Financial Report

Owner CorporationFifth Third Bancorp
EstablishedJanuary, 1865
FDIC InsuredJanuary, 1934
FDIC Certificate #006672
Number of Branches1,353 (1 International)
Total Assets$131.8 Million (12th)
Total Deposits$100.7 Million (13th)
Total Equity$16.3 Million (12th)
Quartarly Net Income$342.5 Thousand (12th)

Contact Information

Corporate Headquarters
38 Fountain Square Plaza
Cincinnati, OH 45263
United Statesflag
Website
https://www.53.com
Data Summary
Fifth Third Bank logo

Grade Summary

Overall, Fifth Third Bank received a grade of "B+" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Fifth Third Bank is rated "B" in Mortgages, "A" in Debt Collection, "B-" in Credit Cards, and "C" in Bank Account Services. Click on any of the financial products to see how Fifth Third Bank compares.

Overview

Fifth Third Bank has received 1,944 consumer complaints since December, 2011 – more than 99% of other banks.

Of those complaints, 99.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Fifth Third Bank meets the 60-day response deadline more frequently than 58.4% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 19% of customers dispute Fifth Third Bank's response to complaints — worse than 51.7% of other companies.

Most of Fifth Third Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."

Fifth Third Bank is primarily a commercial bank with a commercial lending specialization. Fifth Third Bank is based in Cincinnati, Ohio and is the 12th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Fifth Third Bank receives far more complaints than most other banks. Fifth Third Bank recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Fifth Third Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management289
2Bank account or serviceChecking accountDeposits and withdrawals178
3MortgageOther mortgageLoan modification,collection,foreclosure167
4MortgageOther mortgageLoan servicing, payments, escrow account136
5Bank account or serviceChecking accountProblems caused by my funds being low129
6Consumer loanVehicle loanManaging the loan or lease116
7MortgageConventional fixed mortgageLoan servicing, payments, escrow account88
8MortgageConventional fixed mortgageLoan modification,collection,foreclosure61
9Bank account or serviceOther bank product/serviceAccount opening, closing, or management58
10Bank account or serviceChecking accountMaking/receiving payments, sending money45
Responses From Fifth Third Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation1,3551,350 (99.6%)292 (21.5%)
2Closed with monetary relief406405 (99.8%)52 (12.8%)
3Closed with non-monetary relief257253 (98.4%)29 (11.3%)
4Closed without relief134134 (100%)36 (26.9%)
5Closed with relief8383 (100%)13 (15.7%)
6Closed33 (100%)0 (0%)
7In progress33 (100%)0 (0%)
Complaints over the Past Year