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.
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.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Bank account or service||Checking account||Account opening, closing, or management||289|
|2||Bank account or service||Checking account||Deposits and withdrawals||178|
|3||Mortgage||Other mortgage||Loan modification,collection,foreclosure||167|
|4||Mortgage||Other mortgage||Loan servicing, payments, escrow account||136|
|5||Bank account or service||Checking account||Problems caused by my funds being low||129|
|6||Consumer loan||Vehicle loan||Managing the loan or lease||116|
|7||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||88|
|8||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||61|
|9||Bank account or service||Other bank product/service||Account opening, closing, or management||58|
|10||Bank account or service||Checking account||Making/receiving payments, sending money||45|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||1,355||1,350 (99.6%)||292 (21.5%)|
|2||Closed with monetary relief||406||405 (99.8%)||52 (12.8%)|
|3||Closed with non-monetary relief||257||253 (98.4%)||29 (11.3%)|
|4||Closed without relief||134||134 (100%)||36 (26.9%)|
|5||Closed with relief||83||83 (100%)||13 (15.7%)|
|6||Closed||3||3 (100%)||0 (0%)|
|7||In progress||3||3 (100%)||0 (0%)|