Fifth Third Bank's $400 Checking Bonus: A Solid Deal with a Low Deposit Hurdle

Looking for a straightforward bank bonus without a sky-high direct deposit requirement? Fifth Third Bank has a promotion that might catch your eye. For a limited time, they're offering a nice chunk of change just for opening a checking account and setting up a modest direct deposit. It's one of the more accessible offers out there, but as with any financial deal, the devil is in the details. Let's break down whether this $400 bonus is worth your while.

Why This Bonus Stands Out

In the world of bank bonuses, a $500 direct deposit minimum is practically a bargain. Many competitors ask for two or three times that amount. If your paycheck or a regular government payment can cover that, you're already most of the way there. The $400 payout is also quite competitive for such a low hurdle.

Another plus? There's no stated household limit, which is good news for families where multiple adults might want to apply. Just remember, you each need to be brand new to Fifth Third checking.

The Step-by-Step to Get Your $400

The process is simple, but you must follow it precisely to get paid.

• **Get Your Code:** You'll need a specific offer code. This is non-negotiable. You typically get this from the bank's promotional marketing materials or a dedicated offer page.
• **Open an Account:** Use that code when you open either a Momentum Checking or Preferred Checking account. You must do this by January 7, 2026. Opening online or in-branch should work, but always confirm the code is applied.
• **Set Up Direct Deposits:** Within 90 days of opening, have qualifying direct deposits (like from an employer or government agency) totaling at least $500 land in your new account.
• **Wait for the Cash:** Once the bank confirms your deposits meet the requirement, they'll add the $400 to your account within 10 business days. Keep the account open and in good standing for at least 90 days total.

Important Pitfalls to Avoid

This offer seems easy, but a few missteps could cost you the bonus.

• **The 13-Month Rule:** This is a big one. If you've had *any* ownership interest in a Fifth Third checking account that closed in the last 13 months, you're not eligible. This includes joint accounts. Check your banking history carefully.
• **Funding Your Account:** While there's no minimum to open, the bank expects you to put some money in reasonably soon after opening. Letting it sit empty for months might get it closed, voiding your bonus chance.
• **What Counts as Direct Deposit?** Don't assume transfers from PayPal, Venmo, or even another bank will qualify. The bank is looking for traditional payroll or government benefit ACH deposits. When in doubt, ask.
• **Taxes:** Remember, that $400 is considered taxable income. You'll get a 1099 form for it, so plan to report it when you file your taxes.

Choosing Between Momentum and Preferred

You have two account options for this promo, and the right one depends on your situation.

**Fifth Third Momentum Checking** is the simple, fee-free choice. There's no monthly service charge, period. For most people chasing this bonus, this is the obvious pick.

**Fifth Third Preferred Checking** has a $25 monthly fee, but it's waived if you maintain a combined balance of $100,000 or more across your Fifth Third deposit and investment accounts. This account is really for those who already bank and invest with Fifth Third at a high level. If you're just in it for the bonus, stick with Momentum to avoid any surprise fees after the first few months.

Bottom Line

• A $500 direct deposit requirement is very low for a $400 bonus, making this a highly accessible offer.
• The 13-month rule is a strict eligibility filter—double-check your past account history.
• The Fifth Third Momentum Checking account is the no-fee, no-hassle choice for bonus-seekers.
• Always use an official offer code and keep your account funded and open for the full 90-day period.

Common Questions