Birth of the unusual name of Fifth Third Bank is the outcome of a merger between two banks in the year 1908 which is now a regional banking corporation in the U.S. The two banks that merged were the Fifth National Bank and the Third National Bank; the former being older than the latter. Services now offered by the bank can be categorized as under:
Branch Banking.
Under branch banking come all the various sorts of accounts that the company offers including the many types of savings and checking accounts, term deposit accounts, certificates of deposits and so on.
Consumer lending.
The Fifth Third’s lending products include credit and debit cards, vehicle financing, student loans and mortgages, business loans and equipment financing.
Commercial banking.
Products offered in this line of service include business banking, trade of securities and lines of credit.
Investment Advisors.
By this function the Fifth Third Bank advances brokerage services to individuals and business and also acts as trader of securities in the market as an investment and wealth manager.
Processing Solutions.
It includes easy processes and shorter time taken for transactions to get done.
Savings and Checking accounts are further of various types being offered in the branch banking sector of the bank. Certificates of deposits are issued on the basis of a minimal investment yet offering high rates of return and thus a high yield for customers. Credit cards at the Fifth Third Bank are also of various types including master cards which target different income classes.
Eleven different kinds of mortgage facilities designed for different financial needs of customers are available at the bank at various rates for customers to choose from. Not only those, equity lines are also extended to customers to meet their financial needs like building a house, purchasing a house, fund an education program and so on. Students can choose among different types of loans to meet their tuition fees requirements. Besides these broad categories the bank offers accounts, lending services and leases to businesses; for new businesses or for the existing ones.
With Fifth Third Bank businesses can ensure smooth execution of their transactions by availing the facilities of cash management, payroll services, internet banking & bill payments and other merchant services. Businesses are offered loans to start up business ventures and also leases for buying new equipment. Also the bank offers effective treasury management for the companies to maintain their stock portfolio and hedge funds against risk. The Retirement plan at Fifth Third Bank enables you to plan for your retirement and enjoy those returns when you retire in a low cost manner. Asset management is yet another tool which the bank offers to companies and businesses to manage their asset financing and lower their maintenance costs.
Small businesses can seek the bank’s guidance in terms of studying industry trends, employing effective management tools and seeking business advice. Also business financing is extended by the bank to small business firms and groups of people to meet their business capital needs. With planning centre of the Fifth Third Bank you can plan for major steps in life which require serious financial planning be it a change in career, a new home or college education.
The bank also offers secure internet banking for easier and more convenient access to your accounts. You can make your bill payments on the Internet, make transfer of funds and also inquire about the balances in your account. Another convenient channel of banking is the telephone banking whereby customers can access their accounts through self service banking. Besides, they can place transaction requests like pay order request, funds transfer request, payment of bills and so on. The merger of Fifth Third Bank has now made it a complete organization with a full range of banking services and products.
