Coronavirus Updates

Fifth Third Bank offers hardship relief to customers affected by coronavirus

Local News

Customer uses ATM machine outside a Fifth Third Bank, Cincinnati, Ohio (Photo Courtesy: Associated Press)

CINCINNATI, OH (WOWK) – Fifth Third Bank, National Association, has provided additional details on the immediate steps it is taking to help customers impacted by the coronavirus pandemic.

“Fifth Third’s focus on helping customers improve their lives and building stronger communities is more relevant than ever during these times of uncertainty,” said Greg D. Carmichael, Fifth Third chairman, president and CEO. “We take our role and responsibility seriously to understand and put our customers’ needs first. We are continually evaluating our programs to assist our customers. Last week, we announced several proactive measures that we are taking across our business and consumer products to help lessen the financial strain on our customers, and we are providing additional details on these programs today. Our goal is to stand with our customers to help them and our communities get back on their feet. We are here to help our customers when they need us most.”

Fifth Third says it is offering the following programs for consumer and business customers facing financial hardship related to COVID-19.

  • A Vehicle Payment Deferral Program for up to 90 days and no late fees during the period.
  • A Credit Card Deferral Program for up to three payments and no late fees during the period.
  • A Mortgage and Home Equity Program 90-day payment forbearance with no late fees.
  • A Small Business Payment Deferral Program for up to 90 days, with no late fees and a range of loan modification options. The company says it is also waiving all fees on its Fifth Third Fast Capital loans for 6 months.
  • A Fee Waiver Program to waive fees for up to 90 days for a range of consumer and small business deposit products and services.
  • The company is suspending initiating any new repossession actions on vehicles for the next 60 days.
  • Fifth Third is also suspending all foreclosure activity on homes for the next 60 days.

To participate in the programs, customers will need to contact Fifth Third.

Fifth Third says that the company recommends customers continue to leverage all of the digital banking tools and resources for self-service banking and account access through mobile, online and voice banking services, as well as the Bank’s network of approximately 53,000 fee-free ATMs across the United States.

Customers with questions or concerns can visit the company’s support page on its website as the first point of contact for all customers. Representatives are also available at 800-972-3030 Monday through Saturday. For Business Banking service, call 877-534-2264 or email bbgsupport@53.com.

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